Financial distress can happen to anyone, and sometimes, a consumer proposal or bankruptcy may seem like the only viable solution. However, these financial decisions can profoundly impact your ability to qualify for a traditional mortgage in Canada.

In the world of mortgage applications, your debt-to-income ratio (DTI) plays a crucial role. This percentage, which measures your monthly debt payments against your gross monthly income, has a significant impact on your ability to qualify for a traditional mortgage.

Do you ever wonder why financial institutions insist on checking your credit score before approving your mortgage application? Understanding the critical role that your credit score plays in mortgage qualification can help demystify this practice. It's no secret that maintaining a good credit score can open doors to a host of opportunities, including qualifying for a mortgage to buy your dream home.