Advice if You’re Having Trouble Getting a Mortgage


Mortgage Problems Can Happen to Anyone

Chances are, if you happened to click on this link, then you need some help yourself.  I have helped many people relieve the stress that comes from lenders and debt collectors. These types of deals take time to get it done right so that I can put you in the right place and get you back on track.

Whether you are trying to purchase a new home in Kingston or refinance the mortgage for an existing property, I can provide the mortgage help you need and develop a creative solution. The list below outlines some of the common mortgage problems people face. With the right strategy and an experienced mortgage broker, these problems can be overcome.

If you want to obtain the best mortgage rate in Kingston, having your credit in good standing will go a long way. All of the major banks want to work with you, but to get the best rates possible, your credit needs to be in good standing. To obtain a desirable bank rate, your credit score must be greater than 650. If your score falls between 630-650, it’s still possible to get a decent rate, but you may need a cosigner or guarantor to help you.

If your credit score does fall below 630, you will likely need to work with an alternative lender and can likely expect a rate around 4-5% depending on your credit history. However, there are other ways to address this mortgage problem such as a larger down payment and a combination of the strategies mentioned above.

Down payments are one of the most common mortgage problems people face. Many mortgage seekers often face the issue of not wanting to settle for a more affordable home but are unable to save enough for the down payment on their desired home.

If your credit score is below 650, you will need to provide a minimum of 15% down payment (not including closing costs). Depending on the area, market and home you want, this can be difficult to say the least. Current home owners are also at risk. For instance, if you previously obtained a high ratio mortgage through the bank but your credit has deteriorated, you may not be able to refinance your mortgage. If your home has not built up enough equity, receiving financing through an alternative lender may be difficult.

Income is another common mortgage problem, especially if you are self-employed. When you are applying for a mortgage, lenders want to ensure you make enough money to be able to pay back the loan. They will likely request to see a T4 or letter from your employer to validate how much you claim to make. If you are self-employed or earn extra money other ways, you need to show documents that will prove you make as much as you claim to.

If it is determined that you don’t make enough annually to receive the mortgage you’re seeking, there are other solutions available. The most common being having a cosigner to help strengthen the income portion of your application.

Even if your credit score is outstanding, having debt can impact whether or not you are approved for a mortgage. The banks and lenders must ensure that the affordability of your monthly payments (debt, mortgage, car payments, maintenance) will not be more than you can afford. If the lender feels that your current situation is too risky, they will be hesitant to approve you. In this case, the best course of action is to try and eliminate some of your outstanding debt before applying for a mortgage.


If you are in need of mortgage help in Kingston, please reach out to me as soon as possible. With years of experience as Kingston’s trusted mortgage professional, I’ve helped many people overcome their mortgage problems to purchase a new home and refinance their mortgage.

If you are going power of sale than you need to contact me sooner than later as there are more options available.  Lenders do not want to have to go power of sale because it gets expensive and is time consuming.  However, they will if you give them no choice. I do not judge and promise to get involved quickly to help you sleep at night.