Mortgage After Bankruptcy
in Canada —
What’s Possible After Discharge

It's subject to lender approval and varies by file. A B-lender may consider you once you're discharged and re-establishing credit; A-lenders commonly look for about two years post-discharge with two trade lines reporting clean for 12+ months; and equity-based private financing can sometimes happen sooner. Discharge is the starting line, not a fixed waiting period.

No — 'seven years' isn't a mortgage rule. It roughly reflects how long the record stays on a credit report: a first bankruptcy generally six years from discharge (seven at TransUnion in Ontario and some other provinces), a second 14 years. Lenders don't just wait it out — they look at discharge plus re-established credit, so you may be financeable well before the record ages off.

Lenders commonly want to see two active trade lines opened after discharge — for example a secured credit card and a small installment or car loan — each reporting clean for 12+ months with a meaningful limit and low utilization. Requirements vary by lender, but two clean seasoned trade lines is generally the biggest factor moving you from B toward A eligibility.

It depends on stage and lender, illustratively: recently discharged at a B-lender, commonly ~10–20% down; further post-discharge with strong re-establishment, as low as ~5–10% with insurer approval; private, equity-based (~25–35%). Ranges vary by lender/insurer and are subject to approval.

If you kept your home and have equity, often yes — through a B-lender (or private if you're still rebuilding) to consolidate debt, fund a need, or improve terms, subject to lender approval. Your equity is frequently what makes an early post-discharge refinance work.

No. A first bankruptcy generally stays six years from discharge (seven at TransUnion in Ontario and some other provinces); a second, 14 years. What restores full pricing is the combination of the record aging and new, clean re-established credit.

It's a longer road but generally still workable. A second bankruptcy reports far longer, and most A-lenders want it well aged or clearly past the two-year-plus mark with strong rebuilding — so B-lender and private financing typically carry these files in the meantime. We map the exact timeline on your file.

Lenders generally look at the most recent insolvency event for timing, so the proposal's completion often governs. The timelines can stack, but with strong re-establishment both eventually fall off and A-lender pricing returns. See our consumer proposal page and comparison guide.

More than a bank, deliberately and temporarily. Illustratively, a B-lender prices above A-lender rates plus about a 1% lender fee; private is materially higher — CMHC describes private and mortgage-investment-entity lending as short-term, higher-rate credit, plus fees. The premium is temporary — the plan is to refinance to A pricing once you're enough time post-discharge with clean credit, which often saves more over a term than the premium costs.

Yes — the B-lenders and private lenders that work with a recent discharge also underwrite business-for-self income through bank statements and financials rather than line 15000 alone. See our self-employed mortgage guide.

Open a secured credit card (several banks and issuers offer them), use it for small monthly purchases, and pay the full balance every cycle. After 6–12 months add a second trade line, and keep utilization low. After ~24 months of clean reporting you're a substantially more financeable borrower.

Your file is handled confidentially and shared only with the parties needed to arrange the financing. Your discharge is a credit-bureau record, not a public broadcast — your employer isn't notified by us or the lender. We don't disclose your situation beyond what's required to fund the deal.