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Interest Rates Kitchener – Access Mortgage

For a long time, it wasn’t possible to qualify for a mortgage in Canada if you had bad credit, and the market for subprime lending was almost nonexistent. In Canada, we deal mostly with large, regulated institutions with tighten lending standards. This is beginning to change, however, and smaller lenders have started to become popular as the traditional big banks stiffen up their regulations. Interest rates in Kitchener are directly related to your credit. If you have bad credit caused by debt and other past or present poor financial decisions, you will find it very difficult to not only be approved for a mortgage, but to get low interest rates in Kitchener. High credit balances can also significantly affect your credit score. As the market for subprime lending is growing, people with bad credit, or even no credit, can use a company like Access Mortgage to help them find good interest rates in Kitchener tailored to their own personal circumstances. Read on for more information about interest rates in Kitchener.

Find out how to improve your credit here, and how this can benefit you with finding the lowest interest rates in Kitchener!

 

Know where you stand:

Your first stop on the path to a better mortgage deal is creating a baseline. You have to know where you stand in order to improve. Get started by having us run your credit report and get your credit score. If you already own a home and are interested in purchasing more properties, or are looking to remortgage, but don’t think that you will qualify, then contact us today!

 

Reduce the amount of debt you owe:

Reducing your debt is easier said than done, but it can be done! Reducing the amount that you owe on your debts such as credit cards and loans by consolidating will not only reduce your monthly costs, but it will also improve your credit score very quickly. Debt consolidation is a good way to bring all your debt together into one lump sum so that you can begin paying it all off with one payment on a specific term. Access Mortgage can also assist clients with debt consolidation as a process with helping them eventually obtain the lowest possible interest rates in Kitchener.

 

“A” lenders and “B” lenders

You may already know about traditional lending institutions like, TD Bank, Scotiabank, and BMO. There are also large virtual mortgage houses such as First National, ING, and more. These lenders focus primarily on what is called in the industry, the prime lending market, and these are the “Big Banks.” These lenders focus on borrowers who have good jobs, credit, and are purchasing homes within the traditional guidelines. For borrowers that cannot qualify under the “A” guidelines, the next option is to try to fit within subprime lender’s guidelines better known as “B” lenders, and that is where Access Mortgage comes in.

Most subprime lenders do not provide high-ratio mortgages (your down payment must be 20% or more of the purchase price of the home). These lenders charge a premium over traditional interest rates and usually do a much shorter term mortgage loans.

Unfortunately prime lenders are very strict when it comes to borrowers that have poor credit. Debts and minimum monthly payments are too high compared to income so month after month payments are neglected or missed. How can you pay off your debts if you cannot refinance due to your poor credit history? Many borrowers are facing a situation that unless they can refinance their house and use the equity to pay off their debt, they will never be able to catch up and reduce their monthly outgoing costs.

If you have a mortgage and have blemishes on your credit record and are looking to purchase another property, or if you need to re-mortgage to pay off bad debts, then consider the professional services of Access Mortgage today. We will help you find a reasonable interest rate in the Kitchener area for your specific circumstances.

 

For more information about interest rates in Kitchener from Access Mortgage, please feel free to continue browsing through our website. We can be reached at 1-844-397-3780 or by filling out our contact form.  

WHAT PEOPLE ARE SAYING…

  • “Rent-to-own made possible”
    We would like to thank Matthew and his team. We put a lot of money down on a Rent to Own property that we were renting, but we could not get anyone to help us out till we found Mathew. He made it happen and closed on time when know no one else could. From all of us here THANK YOU! We now own our own house!

    C.T., HAMILTON, ON
  • “Best Mortgage Team I've worked with”
    Matthew and his team are the best mortgage team I have ever worked with. They are extremely hard working and bend over backwards to get the job done no matter how complicated or difficult. If there is a way – they will find it. And it will be in YOUR favor. Matthew goes out of his way to set you on a path of success. This is our second mortgage process we have gone through with Matthew, and we are in a better position now than we were the 1st time – all due to Matthews efforts and guidance. After following his recommendations and guidance over the next year we will use Matthew again for our next mortgage and be in an even better position then. If you need a mortgage done, no matter how complicated, call Matthew. He’ll make it happen.

    M.Z. BRANTFORD, ON
  • “No hesitation recommending”
    Matthew’s knowledge, experience and above and beyond work ethic sets an exemplary standard of professionalism and accountability. His integrity and drive is second to none… He truly is a miracle worker!! I have no hesitation in recommending his services to anyone seeking expert assistance. I’m beyond grateful and blessed!!

    M.D., BINBROOK, ON
  • “A tough deal that others could not do!”
    Access mortgage did a great job in getting us a mortgage. It was a tough deal and they were able to get it done when others couldn’t. I would not hesitate to use them again.

    BEA - CAMBRIDGE, ON
  • “Seamless from beginning to end!”
    I just want to say 'thank you' to all of you, especially Matthew. The financial stress started affecting my health and my life. I could not sleep or focus at work. Now it has given me control on my life by connecting me to a great lender. I have gone from being full of stress to being stress-free.

    JULIE - HAMILTON, ON
  • “From full of stress to stress-free”
    I just want to say ‘thank you’ to all of you, especially Matthew. The financial stress started affecting my health and my life. I could not sleep or focus at work. Now Access Mortgage has given me control on my life by connecting me to a great lender. I have gone from being full of stress to being stress-free.

    M.D., MISSISSAUGA, ON
  • “Patient with deep understanding”
    Thank you for all the help that you gave me, most patiently and with deep understanding. I was very comfortable asking you everything and anything. Your team did great job in making me understand the financial side. I have learnt a lot. Thanks to Matthew for taking time to come to my place. He not only did his work, but for a short time, took me back to most nostalgic memories of my life, before I came to Canada. I am also grateful to the lawyer for coming to my place to meet with me, and quickly closing the mortgage and releasing the funds.

    S.S., MISSISSAUGA, ON
  • “Got creditors off our back”
    I can’t say enough how great your company has been. Matthew, thank you so much for making all of this process so easy for us. Our bank would not help us and you were amazing. Your company kept us informed every step of the way, and not once were we made to feel inferior like our bank did. The lawyers you set us up with were also awesome. I will highly recommend your company to anyone looking for mortgages. Thank you so much for getting creditors off our back and setting us on the right track. You guys are all amazing. I’m also so impressed that you came to us do to everything.

    K.K.P., HAMILTON, ON
  • “Best mortgage team I’ve worked with!”
    Matthew and his team are the best mortgage team I have ever worked with. They are extremely hard working and bend over backwards to get the job done no matter how complicated or difficult. If there is a way – they will find it. And it will be in your favour. Matthew goes out of his way to set you on a path of success. This is our second mortgage process we have gone through with Matthew, and we are in a better position now than we were the 1st time – all due to Matthews efforts and guidance. After following his recommendations and guidance over the next year we will use Matthew again for our next mortgage and be in an even better position then. If you need a mortgage done, no matter how complicated, call Matthew. He’ll make it happen.

    C.H. - ST. CATHARINES, ON
  • “Extremely Fast!”
    Access Mortgage was extremely fast and explained everything well. We were very happy with their professional service and honesty. I would definitely refer them.

    LISA - BRANTFORD, ON
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