I am a self-employed person and I am planning to buy a home. I don't have much savings for that and so, there is no option other than a mortgage. But, I have some issues with my credit score. It's only around 600. So, I doubt whether I would be able to get a mortgage easily. What can I do to improve my credit score? What if I couldn't improve the score? Will I get a mortgage with my current score? This is my first mortgage and thus, I don't know the formalities for getting a mortgage.
I am planning to consult a mortgage broker. What are the documents to be submitted before them? How can I find out exactly what the loan will cost me? I came across a mortgage broker offering the best mortgage rates in Edmonton. But, I don't know more about them. Can I approach them with my current score? Will they provide me a mortgage with a better rate? Please let me know your experience with this kind of companies. And share your suggestions too. Thank you.