A subprime mortgage is typically granted to people who have poor credit histories and would likely not be able to qualify for a conventional mortgage. While the subprime mortgage does open the door to home ownership for many borrowers, it does come with a higher interest rate than what borrowers with conventional mortgages will pay, so it’s not always the most appealing option.
Ideally, a subprime mortgage in Vancouver should be used as a short-term solution in times of financial distress. To learn more about the subprime mortgage and whether or not this loan makes sense for your situation, make an appointment with a mortgage broker at Rala Investments today.
Rala Investments Ltd
1200 Lynn Valley Road Suite #301
North Vancouver, BC, V7J 2A2
Monday – Friday: 9:00 AM - 5:00 PM
North Vancouver mortgage broker proudly providing a variety of mortgages, loans, and other financial assistance to the following areas in the Lower Mainland:
North Vancouver | West Vancouver | Vancouver | Burnaby | Langley | Coquitlam | Delta | Surrey | Richmond | New Westminster | Port Moody | Maple Ridge | Abbotsford | Cloverdale