If you are buying a house with bad credit, it may very well be the start to rebuilding your financial strength. Sure, buying a house with bad credit does not allow you the degree of flexibility that you would otherwise be offered by the banks if your credit was impeccable, but it does allow you to purchase a home with short term options that are flexible enough to get you back on track. Many people think buying a house with bad credit is long term, typically a 3-5 year commitment. This isn’t true. With the right strategy, credit can be dramatically improved over the course of 1-2 years and realistically that is what the alternative lenders want for you as well, hence they normally offer shorter terms to start. Ultimately, for 1-2 years you will be making payments that are slightly higher than what the banks may have been able to offer (interest rates are higher), but on the contrary you are now paying principal down on house that you own! It’s far better than paying rent, and realistically you are working hard for that bank approval which is your long term motive. At Canadian Mortgage Services, we are experts in financing hard to place mortgages. Aside from buying a house with bad credit, a mortgage may be hard to place for an array of reasons including lower income, current employment status, current citizenship, down payment, judgments, existing debt and much more. Thankfully, we have product solutions for each obstacle and with the right collaboration and effort; we can arrange a mortgage that will help you in now and in the future. The thought of buying a house with bad credit may deter you, but the truth is, aside from a few differences the process is very similar to applying within the major banks. With the guidance of our team we’ll walk you through every step, outline every option and make suggestions that will lead you to your ultimate goal. Give us a call and we can get you started by simply explaining interest rates, terms, amortization and options in further detail.