Getting a mortgage with bad credit in Canada can be challenging, but it’s not impossible. Here are some steps you can take to increase your chances of getting approved for a bad credit mortgage:

1. Check your credit report: Before applying for a mortgage, it’s important to check your credit report and make sure that all the information is accurate. You can request a free copy of your credit report from one of the credit bureaus in Canada – Equifax or TransUnion.
2. Work on improving your credit score: While you may not be able to improve your credit score overnight, there are steps you can take to gradually improve it over time. This includes paying your bills on time, reducing your debt-to-income ratio, and limiting your credit applications.  Also settle collections and bring accounts that are presently in arrears up to date.
3. Save for a larger down payment: If you have bad credit, lenders may require you to make a larger down payment to offset the added risk. By saving up for a larger down payment, you can improve your chances of getting approved for a mortgage.
4. Consider alternative lenders: Alternative lenders, such as private mortgage lenders or credit unions, may be more willing to work with individuals who have bad credit. These lenders may have more flexible lending criteria and may be able to offer you a mortgage with a higher interest rate or other fees.
5. Work with a mortgage broker: A mortgage broker can help you navigate the complex world of bad credit mortgages and connect you with a lender that is willing to work with you. They can also help you compare rates and terms from different lenders to find the best option for your needs.

In summary, getting a mortgage with bad credit in Canada requires careful planning and research. By improving your credit score, saving for a larger down payment, considering alternative lenders, and working with an experienced mortgage broker, you can increase your chances of getting approved for a bad credit mortgage.  Canadian Mortgage Finder has been providing bad credit mortgages in Canada since 2003