Mortgage after a consumer
proposal in Canada —
active & discharged options.

Active means a much narrower lender list (specialty B-lenders and private). Discharged means the options widen. A-lenders become realistic about 2 years after completion, with 2 years of re-established credit (lender- and insurer-dependent). Discharge alone usually isn’t enough; re-establishing credit is what moves lenders from no to yes.

Often yes, through specialty financing. Expect a higher down payment (commonly ~20–35%), a rate premium over A-lender pricing, and a requirement to show you’re current on your proposal payments. Figures are illustrative and lender-dependent. Many files do better waiting until after discharge if there’s no immediate purchase pressure — we’ll tell you honestly which applies to you.

It depends on stage and lender, and these are illustrative: active proposal commonly ~20–35%; recently discharged ~10–20%; later, as low as 5% on the first $500,000 (10% on the portion up to $1.5M) for an insured A-lender purchase, once insurer criteria are met. Private files are equity-based, commonly ~25–35% down. Insurer and lender criteria change, so we confirm what’s currently available for your file.

Yes. A consumer proposal doesn’t disqualify you; what matters is first-time-buyer status, which for the FHSA generally means you haven’t lived in a home you (or your spouse or partner) owned in the current year or the previous four calendar years. Building an FHSA during your credit rebuild means your down payment and your credit improve on the same timeline.

Generally, yes, for a few years. Both Equifax and TransUnion remove a consumer proposal 3 years after you’ve paid off all the debts in it, or 6 years after you signed it, whichever comes first. Check your own report to confirm. What matters most to lenders is that it’s completed and that you’ve re-established clean credit.

It’s confidential in practice but not entirely private. Your employer isn’t notified and it isn’t published in newspapers — but it’s reported to the credit bureaus and your creditors, and it’s recorded in the federal Office of the Superintendent of Bankruptcy’s insolvency registry, which anyone can search for a fee. Your conversations with us are confidential.

Sometimes — if you have enough home equity and a lender comfortable with the active proposal. Settling it early completes the proposal — the 3-year credit-report clock and lenders’ time-since-completion start immediately — and can put you on the path to A-lender pricing faster. But it only makes sense if the math works and it doesn’t drain your equity — we model equity → refinance amount → payout → fees → remaining equity → projected exit before recommending it.

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 lender and broker fees. Refinancing back to A-lender pricing after discharge often saves more over a 5-year term than the premium you pay during recovery. We model the full lifecycle so you see the real number.

Open a secured credit card (several banks and issuers offer them) and use it monthly, paying the full balance every cycle. After 6–12 months of clean reporting, add a second trade line so two accounts season at once, and keep utilization low (ideally under 30%). Consistent clean reporting over a couple of years makes you a substantially more financeable borrower — we coach this on every file.

Only if you co-borrow. A joint mortgage checks both borrowers’ credit, so a spouse’s proposal affects joint qualification. Where it makes sense, we can structure a single-borrower deal (one name on title and mortgage), which requires the qualifying borrower to carry the file on their own income.

A private file can often fund within days once an appraisal is done and the lawyer is instructed; a B-lender file typically takes a few weeks. Timelines vary by lender and file. If you have a firm closing date, tell us early so we can match a lender that meets it.

Lenders look at the most recent insolvency event for timing. A bankruptcy converted to a proposal has the proposal as the operative event; a discharged bankruptcy followed by a discharged proposal stacks the recovery timeline. With strong re-establishment, the path back to A-lender pricing still opens — we map the exact timeline on your file.