First Time Homebuyers with Bad Credit

What is Bad Credit in Ontario?

Many of our clients across Ontario come to us because they want to obtain a mortgage but have a bad credit score. If your bank or credit union has denied you a mortgage because of this reason, you have come to the right place. We deal with many first-time home buyer loans due to bad credit.

Bad credit scores are a very common occurrence, and often borrowers receive little explanation as to how they can get themselves back to a healthy credit shape. A bank will usually decline applications with bad credit scores because they do not want to be put in a high-risk position to provide the borrower with a mortgage. Therefore, they will approve mortgages to borrowers with high credit scores, a sustainable income, and/or high equity.

How Can I Obtain a Mortgage with Bad Credit?

Are you a first-time homebuyer needing a mortgage for bad credit in Ontario? We’re here to help. As a true equity mortgage lender, we lend based on the real estate asset. We look at the location, marketability, condition and value when assessing your mortgage application. We do not look at your income, credit or GDS/TDS.

There are many “bad credit mortgage lenders” across Toronto and other major cities in Ontario, but often borrowers will find themselves caught in loopholes caused by hidden rates and fees. At New Haven, we provide brokers with upfront rates and fees, working together with them to help you obtain the correct mortgage loan structure.

We call ourselves The Good Lender because we understand hard times come by, and our goal is to help our borrowers get to a point where they can get approved for a loan by B-lenders or even A-lenders.

How Can I Improve My Credit?

To ensure your credit improves, you must begin managing all of your debt correctly. This means your loans, credit cards, line of credit, and so on. Make sure to budget your income and keep your monthly payments in check. Further, check your credit score every month to make sure it is increasing.

To get started with New Haven, a trusted mortgage lender in Ontario, contact us below.

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Faster Processing Times

Our team is fast and efficient when it comes to processing inquiries, analyzing requests, and issuing commitments. This means you get the money you need when you need it.

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Credible Reputation

New Haven Mortgage Corporation has worked hard to establish itself as a reputable leader within the mortgage industry. This means that both lawyers and lenders work with us to expedite the process.

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Experts in Debt Consolidation

We understand that debt and financial hardships happen. Our team are experts in the alternative mortgage market and can help you find the best solution to your mortgage needs.


Brokerage License No.: 10588
Administrator’s License No.: 11284