Mortgage Brokers - Why Can't I Get Approved - Canada

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RE: Why Can't I Get Approved

Postby imrankhaniiml » Wed Jan 29, 2014 02:22:43 AM

I think you have bad credit. Banks and other financial organizations are not approving any loan with bad credit or without credit score's information. You can borrow loan from hard money lenders because they are not asking for credit score. They can make a loan with bad credit score and without credit score's information.

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RE: Why Can't I Get Approved

Postby bobby_8 » Sun Sep 23, 2012 02:25:42 PM

Yeah a bigger down payment is probably your best bet. But I might be inclined to find another broker as well.
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Why Can't I Get Approved

Postby Omid Jalili » Sat Aug 25, 2012 01:57:46 AM

According to me you must consult with another mortgage broker before some days government revised their credit score policy .As you have stated your credit score is not so bad so you must tell your exact situation to mortgage broker so that he can help you in proper manner.
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RE: Why Can't I Get Approved

Postby jonathanpaul » Mon Aug 09, 2010 03:41:47 AM

i think you should report that person to their head or supervisor because that person is not doing his/her job. maybe a lot of people that went through him for card applications are not getting any approval or just even a feedback coming from the bank or any credit card issuer.
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RE: Why Can't I Get Approved

Postby Rinconns » Wed Jun 30, 2010 08:06:05 AM

I actually ditched his ass. I found out he never submitted the apps to any banks.

I tried a new broker, 3 banks, three approvals.
I think I am going with CIBC Firstline. Any thoughts on them?
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RE: Why Can't I Get Approved

Postby montyloree » Wed Jun 30, 2010 08:06:03 AM

that's what I would ask, to find out which mortgage supplier to brokers have applied to. Having $40,000 for a down payment great idea. Ultimately creditors want job stability, home stability, and to note that you pay your bills regularly.

I would question why you have such low credit scores. And I'm sure that's what the mortgage companies are questioning as well.

I'm wondering if the subprime mortgage lenders are as available as they were before 2008 and that the credit crisis thing.
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RE: Why Can't I Get Approved

Postby darinb75 » Wed Jun 30, 2010 08:01:45 AM

Do you know which lenders the broker has applied with so far ?
For more information visit www.TorontoMortgageSite.com . Arranging mortgages in Toronto and the GTA for your home purchase, refinancing, renewals or 2nd mortgage.
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RE: Why Can't I Get Approved

Postby average_joe » Mon Jun 14, 2010 09:07:37 PM

I believe you should find another broker. If you’re looking to buy a home in the $120,000 range, a 20% down payment should be enough and that also avoids mortgage insurance. Here is a link listed below that might be helpful.

http://www.invis.ca/
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RE: Why Can't I Get Approved

Postby Rinconns » Mon Jun 14, 2010 06:43:44 PM

Would you think a $40,000 down payment sweeten the deal with the banks?

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RE: Why Can't I Get Approved

Postby average_joe » Mon Jun 14, 2010 06:15:39 AM

I find it ridiculous that Tran’s union keeps your hard inquiries on your file for six years and equifax only three years.

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