Equity-Based Loans Bad Credit Home Renovation Loans

Whether you want to increase the value of your home or you need significant improvements made to improve your quality of life, you might think that due to your bad credit you will not qualify for a loan. BMC Mortgage & Investments can help you get the financing you need to fix up your Edmonton and surrounding areas of Alberta home even if your credit rating is less than stellar. When the major lending institutes say no, a bad credit home renovation loan may be the perfect solution.

Secure your Loan with the Value of your Home or Property

When you come to BMC Mortgage & Investments to secure a bad credit home renovation loan, we will have you fill out a simple application form so we can better understand your unique situation. Then, using an appraisal, a current tax assessment and/or a Realtor evaluation, we will determine a fair value for your property. The value of your property and any outstanding mortgages or liens are taken into consideration and we will work to find you the best solution for your situation.

You are in Control

With a bad credit home renovation loan, you can free up cash to start and finish any renovation or upgrade you can think of:

  • Build that new deck for summer-time enjoyment
  • Finish the basement to increase your living space
  • Fix that leaky roof before greater damage occurs
  • Build your dream kitchen

Just because you have had trouble maintaining a good credit rating does not mean you can't take advantage of the equity in your home to make it the dream house you imagined when you bought it.

Once we evaluate your home and determine the amount you can borrow, we will provide you with solutions offered by our many investors. With different lending criteria and terms, we can often present several offers so you are in control and can determine the best fit your project.

Don't let bad credit stop you from investing in your Edmonton or surrounding Alberta area home and creating your ideal space. A bad credit home renovation loan with BMC Mortgage & Investments might be just a simple application away. 

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Bad Credit Home Renovation Loans

Why Would You Need a Bad Credit Home Renovation Loans?

  • You want to build a deck onto your home
  • To fix the leaking roof of your home
  • You want to finish your basement
  • Your home is in need of a new coat of paint
  • It’s time your dream kitchen got built
  • Make general repairs to your home

 

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Borrowing against the equity in your home is a convenient way to access the funds needed to purchase a new car, pay for your children's education, or even buy a second home. But how much can you really borrow with a home equity loan. While the value of your property is an important factor in determining how much you can borrow with a home equity loan, there are several other criteria that lenders will consider – specifically, your loan-to-value (LTV) ratio and your debt-to-income (DTI) ratio.

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