Usually, a high credit score helps you get a home with less money down compared to those with poor credit. In many situations, banks won't even approve your home purchase without a credit score of 680 or higher. This makes it hard or impossible for many to buy a home in Edmonton.
However, credit isn't the only constraint people face when trying to buy a home. Other issues, such as working as a contract employee or working for yourself can make it hard to prove your income. If you haven't done this type of job for at least two years, you may struggle to meet the requirements of a traditional mortgage.
Get a Home Without a Traditional Mortgage
The Alberta Private Mortgage does make it possible for those not qualifying for a traditional mortgage to buy…