#004 RSIRE Buying With A B Lender w/Dana Hesp

Many of us want to own a home at some point, but bruised or imperfect credit can prevent us from borrowing with our preferred lender.  Maybe a job loss, a repossessed vehicle, a cancelled credit card, late payments, divorce, all of these can contribute to lower credit scores.

The major financial institutions are referred to as “A” lenders. What do you do if you have a down payment, want to buy a home but have imperfect credit and your bank has turned you down? “B” lenders to the rescue.

Dana Hesp and her partner found themselves each leaving their marriages and wanting to buy a house together. Due to their separations and divorces, banks sometimes take a pass on lending money out to people in these situations. Dana had also had a car repossessed but did not know the exact circumstances, so this impacted her credit. She and her partner could not get a mortgage from an “A” lender, so turned “B” lenders to make their dreams come true. Dana walks us through the pros and cons of financing this way.

Join host award winning mortgage broker Denise Laframboise each week as she brings the good, the bad and the just plain ugly in real estate transactions, as told by real people. Success stories and tips on how to avoid the same pitfalls. We'd love you to please like, subscribe, follow and share these amazing stories.

To get in touch with Denise:

Web: http://DeniseLaframboise.ca Email: [email protected]  Phone: 289-645-1568 ext 1

Hashtags for this episode: #b lender, #bruised credit, #downpayment, #imperfectcredit, #budget, #mortgages, #separation, #divorce, #creditrating, #realestate, #bigbanks