How long before you can apply for a mortgage after you have done a consumer proposal?
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by Questions on November 1, 2006
How long before you can apply for a mortgage after you have done a consumer proposal?
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You can apply for a mortgage whenever you want, although it is difficult to qualify for a mortgage while you are in the middle of a consumer proposal. Once your proposal is completed, you can apply for a mortgage, but the lender will probably require a significant down payment, such as a conventional 25% down payment.
The key to rebuilding your credit after a proposal or bankruptcy is to begin saving money, so that you demonstrate that you are credit worthy.
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