Don’t let bad credit stop you from financial freedom

Mortgage for Bad Credit Toronto, Ontario

Bad Credit Mortgage

There are mortgage options for Ontarians with bad credit. Qualifying for a mortgage with bad credit will most likely require a private mortgage solution. Square Capital mortgage brokers are specialized in private mortgages for bad credit, poor credit, or no credit clients.

Square Capital offers innovative mortgage solutions working with banks and private lenders to provide borrowers with fast 24-hour mortgage funding options (subject to terms and conditions).

0 +
Mortgage Lenders
0 s
of Satisfied Customers

Mortgage Solutions in Toronto, GTA and across Ontario

Fast and Flexible, regardless of Credit

Bad Credit Mortgage Options

Bad credit mortgages can offer many solutions to help borrowers become homeowners and improve their financial health.

Buying a house or paying off high-interest debts, a bad credit mortgage can help repair poor credit scores. Getting a mortgage and consistently paying it down or paying off your high-interest debts helps rebuild your credit score. Mortgage Lenders know this and will usually offer a private mortgage. Private mortgages usually charge a higher interest rate and more fees, however, the goal is to help borrowers repair their credit and move into a lower rate mortgage, quickly. 

Bad credit mortgages can be used for;

  • New Purchase – Live the Canadian dream or diversify your asset allocation by purchasing a new home, second home or rental property.
  • Debt Consolidation – Homeowners with bad credit can take advantage of their home’s equity and quickly have access to funds. Consolidate high interest debts and save money with a lower rate private mortgage while repairing bad credit.
  • Repair Your Credit – Buy a new house and build your credit with consistent monthly payments, or payoff all high interest debts and start new with one of the best low interest borrowing options in the market.
  • Self-Employed – It’s not easy being self-employed and having to wear many different hats. Bad credit or poor credit can result in addition to declared lower income. Our mortgage brokers will assess your financial situation to assess bad credit mortgage opportunities.  
  • Renovation – Even with bad credit or poor credit, homeowners may have to renovate their biggest investment. A bad credit mortgage leverages the home equity you have built into your home to pay for renovations that you need and increase the value of your home.

Factors to consider

There are many factors to consider when deciding if a bad credit mortgage is a right option. Lenders, like banks and other private lenders, review mortgage applications for:

  • Proof of income
  • Down payment, if new purchase
  • Property Value or
  • Home Equity
  • Credit Score
  • Credit History

Mortgage brokers and agents can help determine if a bad credit mortgage is a suitable option. Our mortgage experts work on mortgages for bad credit in Toronto and other cities in Ontario. Contact a bad credit mortgage broker specialist at Square Capital to review mortgage options. Our mortgage professionals and bad credit mortgage lenders have worked with borrowers in situations with high debt levels, bad credit or are self-employed to provide alternative lending options.

Questions about Bad Credit Mortgages

Are you ready to get your mortgage?

Contact us today to get a free quote. We will help you understand the current market conditions affecting the mortgage market! Prequalify without affecting your credit!

Innovative Mortgage Solutions

Simple and Quick Mortgage Loan Approvals


We know it’s complicated proving income earned and work with lenders who understand this.

First-time Homebuyers

With access to many options, we help navigate and secure suitable mortgages possibilities

Rental/Investment Property

Use leverage to diversify your investment portfolio.


Leverage your home’s equity and have access to immediate tax-free cash flow, with no regular payments.

Our Mission

Why People Choose Us

Fast/Quick Mortgage

Have your mortgage within 24 hrs, subject to terms and conditions

Best Rates, Flex Terms

Competitive mortgage loan rates with flexible 3 to 12-month terms

Rebuild Credit

Boost your credit within 90 to 120 days

Custom Payment Plan

Partial or zero payments for up to 12 months

Related Services Offered

Other Mortgage Options

Home Equity Line of Credit (HELOC)

Access your home’s equity to use as much as you need and only pay the interest.

Read More

Private Mortgage

For different life situations, private lenders help with access to short-term, interest-only mortgage loans.

Read More

Reverse Mortgage

Canadian homeowners 55 and older can access up to 55% of their home’s value.

Read More

Second Mortgage

An alternative option for homeowners to access their home’s value to consolidate high-interest debt, without paying penalties.

Read More

Other mortgage options

Homeowners have choices and can consider options to leverage their home equity. Depending on the product, these options may have slightly higher interest rates.

 Home Equity Line of Credit (HELOC)

There are different products that provide flexibility for the most suitable mortgage loan options such as home equity lines of credit or HELOC. A HELOC still enables access to the home’s equity, just in a different way. Instead of a single (or lump sum) payment, a HELOC provides on-going access to a certain amount of money, similar to a credit card, with a lower rate. The amount of the HELOC depends on the value of the home.

The benefit of a line of credit is that payments are interest-only payments and homeowners can access it when needed. Downsides include variable interest rates and access to the total amount of the HELOC, which could lead to more unwanted mortgage debt. That being said, there are opportunities to lock in rates to protect monthly mortgage payments.

Private Mortgage

When homeowners cannot qualify for a mortgage to refinance through a bank mortgage debt consolidation or a home equity line of credit (HELOC), private mortgages may be an alternative. Since private mortgage lenders will secure a mortgage debt consolidation against a home, the interest is usually lower than high interest debts like credit cards.

Private lenders usually charge a higher interest rate and fees than a bank, given the higher level of risk, however, this option still reduces interest costs over time. This is because these lenders understand that situations exist such as quick turnaround for financing, bad credit, non-stated income, and non-conventional properties.

Typically, private mortgages are shorter-term products and only require the interest portion to be repaid. Private lenders evaluate risk differently than traditional lenders and will consider the borrower’s ability to repay which is beneficial to self-employed and people with bad credit. Private lenders can also provide debt consolidation options through second mortgages.

Second Mortgage

Borrowers unable to qualify for a mortgage refinance leveraging equity, could consider a second mortgage. A second mortgage will provide the option to consolidate loans with higher interest into a lower rate option. While interest rates for second mortgages tend to be higher, it will save money on interest costs over time. Speak to a mortgage broker to understand the costs associated with a second mortgage.

Reverse Mortgage

An option available to homeowners 55 and older are reverse mortgages that provide access to the home’s equity without having to sell. Reverse mortgages allow homeowners to borrow up to 55% of the value of the home. The concept of this mortgage is essentially a reverse loan that means there are no payments required. Payments will be made either in monthly payments or in a lump sum payment to homeowners. Homeowners will pay the reverse mortgage loan when they move, sell or the last borrower dies. Typically, the interest rate is higher, and there are fees additional associated with reverse mortgages.

Debt Consolidation Mortgage

To understand if a debt consolidation mortgage or a HELOC could be suitable options to consolidate debts, and help get your life back on track, contact Square Capital Mortgage Brokerage. We understand each case is unique and there are many factors to consider including homeowners with bad credit or low income. Unlike traditional lenders like banks and financial institutions, with very strict lending terms, Square Capital works with over 50 lenders, including private lenders, to find the right solution for our clients. Our expert mortgage brokers and agents will help to find solutions to lower your monthly payment and reduce or stop the interest on your debt. Lower monthly payments every month reduces the chances of financial default while improving your credit and managing your money wisely.

Learn more about leveraging home equity for products such as mortgage refinance, home equity lines of credit (HELOC), and second mortgages.

Budget Planning and Expense Tracking

While products like debt consolidation mortgages, HELOCs, and private mortgages are tools to financial freedom, managing debt is the key to success. Practicing better money management in daily life like budgeting, monitoring spending, and saving. There are many free online apps that can support homeowners to achieve financial freedom and get better at managing money.

Get Started with your Bad Credit MortgageToday

Getting a mortgage when you have bad credit can be challenging and overwhelming. Square Capital can help you get a bad credit mortgage for you regardless of your credit rating. We can help you determine exactly how much you can afford. Start your bad credit mortgage online.

Questions? We’ll Put You On A Right Path!

Contact us today to get a free quote. We will help you understand the current market conditions affecting the mortgage market! Prequalify without affecting your credit!

Mortgage Application

Once the form is submitted, we will contact you to discuss your needs and to answer any of your questions.