26 May 2021

Fast, Bad Credit Mortgage Approval

On average, it takes most lenders 18-24 business days to approve you for a loan. If you have bad credit, it can take even longer, especially if you need to find a lender who specialises in bad credit mortgages. Mortgage House is a non-bank lender. We can provide you with loan approval faster than our competitors, even if you have bad credit. 


Here are a few simple steps to help speed up your application approval:


Submit all the required documentation

We can’t process your mortgage application until all the documents are submitted. You need to make sure you provide the following:

  • Our completed loan application
  • Identity verification, such as a copy of your driver’s license or passport
  • Financial documentation, including recent payslips, bank statements and the last two years of tax returns
  • The contract of sale for your new home. This includes the purchase price, location and other essential information


If you have bad credit, you will also need to provide:

  • A certified letter describing your situation and credit history
  • Evidence that your defaults have been paid recently


Obtain a property valuation before you submit your application

Some lenders allow you to obtain a property valuation as you are completing your loan application. Upfront valuations can make the approval process quicker instead of waiting until after your application is submitted. 


Most experts recommend that you submit your loan application three months before your closing date. However, we understand that you may not be able to do so. We also understand how bad credit affects the approval process. Our team of brokers cut out the financial middleman. This saves you money and makes the approval process faster than traditional lenders. If you have bad credit and need a home loan quickly, contact us today.

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