It’s possible. After we analyze your own situation we’ll discuss what possibilities are available to you. However, lenders that deal with non-standard credit usually charge a higher rate than normal bank approved credit.
Vernon Mortgage brokers.
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Applying for a mortgage shouldn’t be hard or confusing,
let’s break this down and make it simple for you!
My bank declined me. Can I still get a mortgage?
What does a Mortgage Broker do?
A Mortgage Broker seeks out financing options for their clients. In other words, they facilitate the mortgage transaction between you and a Lender. Basically a Mortgage Broker offers advice, options and choice. .They take care of the legwork of searching for the best mortgage product and interest rate by utilizing their network of lenders and financial institutions.
Why is an appraisal necessary?
Every conventional mortgage that includes a minimum 20% down payment requires an appraisal because the mortgage is uninsured. The lender wants to see that your purchase price is in line with the property’s fair market value. Lenders want to see that you are purchasing a quality property and that they will be able to recuperate the full amount if you default on the loan.