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4 Pillars

Would your service prevent me from receiving a mortgage?

In our experience, many debtors had tarnished credit ratings before seeking assistance. In many cases, their debt levels were already preventing them from qualifying for a mortgage as their income could not support both the debt payments and a new mortgage.

Three factors that affect obtaining a mortgage: credit rating, employment income/debt service ratio, and down payment. Most lending institutions use the Beacon Score to evaluate the debtor’s capability to obtain mortgages. Typically a Beacon Score of 650 or higher means a debtor can qualify without too many restrictions. After going through a restructuring program, you are usually in a better position to meet the debt service ratio as you have no additional debt. By reducing your debt and monthly payments, cash flow is free to save for your down payment. Our credit rebuilding program meets the CMHC mortgage lending guidelines. A well-executed debt restructuring plan can make homeownership a reality.

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