High Risk Mortgages in Ontario & Canada
A High Risk Mortgage for Homeowners the Banks Turned Down
If your bank labelled you high risk because of your credit or income, you still have options as long as you own a home. A high risk mortgage from Turnedaway.ca is approved on your equity, not your credit score or income history, so a low score, irregular earnings, or past setbacks do not have to be the end of the road. Learn more about home equity loans, second mortgages, and debt consolidation.
or call 1-855-668-3074
Approvals in as fast as 24 hours · No income or credit requirements · Financing from $25,000
Yes, you can get a high risk mortgage in Canada if you own a home with equity. Equity-based lenders approve based on the value in your property rather than your credit score or income, which is why financing is often available even after missed payments, irregular income, or a recent bank decline. Your home, not your credit file, does the qualifying.
24 hrs
Typical approval window through Turnedaway.ca, versus weeks of back and forth at a bank.
80%
Maximum loan-to-value we arrange, leaving real equity protected as a buffer.
$25K
Financing available from, with no income or credit requirements to apply.
0
Credit score minimum. Your equity, not your score, is what we lend against.
For how credit scores work, see the Government of Canada.
Why the Bank Calls You High Risk, and Why Your Equity Says Otherwise
Banks classify a borrower as high risk based on a narrow set of numbers: your credit score, your income stability, and your payment history. A single rough stretch, a job loss, an illness, a business downturn, a season of irregular earnings, can push you outside their guidelines, even when you have years of equity built up in your home.
Equity-based lending looks at the picture the banks ignore. What matters most is the value in your home, not the marks on your credit report or the shape of your income. That gives homeowners a path the banks simply do not offer, and many use it to consolidate debt, steady their cash flow, and create the breathing room to recover. For an independent overview of improving your credit, the Financial Consumer Agency of Canada is a helpful resource.
At Turnedaway.ca, we have helped thousands of clients the banks turned away by working with a wide network of alternative and private lenders. That is what allows us to arrange a high risk mortgage for homeowners other lenders have already declined.
How a High Risk Mortgage Works
Getting approved through Turnedaway.ca is straightforward, even if the banks have labelled you high risk. Here is what the process looks like from your first application through to funding.
Tell Us About Your Situation
Apply securely at apply.turnedaway.ca. Whether the issue is credit, income, or both, we start with where you are today, not the label the bank put on your file.
We Assess Your Equity
We review your home's value and existing mortgage to see how much room there is, staying within our 80% loan-to-value cap. Your credit score and income are not the deciding factors. Estimate your room with our home equity calculator.
We Match You to a Lender
We place you with a lender who funds based on equity, not credit or income, not just the banks that say no. An independent appraisal confirms your home's value.
Review Your Full Cost Disclosure
Every cost is laid out in a written Cost of Credit Disclosure before you sign anything, so there are no surprises. Your lawyer completes the legal work and registers the loan.
Close and Start Rebuilding
Consolidate debt, steady your cash flow, and follow the exit plan we build to return to bank rates once your situation recovers. Most files close within 5 to 10 business days.
Who Qualifies for a High Risk Mortgage?
Approval is based primarily on the equity you have built up, not your credit score, income, or employment status. Not sure how much equity you have? Use our home equity loan calculator to get an estimate.
Low or Damaged Credit
A score in the 500s, or even lower, does not disqualify you. With enough equity, we can often arrange financing regardless of your score.
Irregular or Seasonal Income
Income that rises and falls through the year will not stop us from looking at your file the way the banks do.
Self-Employed
No income verification or tax returns required. Your property qualifies you, not your paystub or Notice of Assessment.
Recently Declined or Discharged
A recent decline, or rebuilding after a bankruptcy or consumer proposal, does not put you out of reach.
At Least 20% Equity in Your Home
Because all of our lending stays within an 80% loan-to-value cap, you need meaningful equity in the property.
Equity can bring arrears current and stop a power of sale before it escalates.
or call 1-855-668-3074
How Much Can You Borrow?
The amount depends on your property's current value and the balance still owing on your mortgage. Turnedaway.ca does not arrange deals above 80% LTV, which protects you if property values decline. Here is a simple example for a homeowner the banks called high risk.
Simple Example
| Detail | Amount |
|---|---|
| Estimated Property Value | $780,000 |
| Maximum LTV at 80% | $624,000 |
| Existing Mortgage Balance | $430,000 |
| Equity You Could Access | up to $194,000 |
Commonly used to consolidate debt, steady cash flow, or bring arrears current. Use our home equity loan calculator for a personalized estimate. Financing available from $25,000.
What Can You Use the Funds For?
Homeowners use a high risk mortgage to take back control in several ways. These are the most common.
💼
Consolidate High-Interest Debt
Roll credit cards and loans into one lower payment by consolidating debt against your home.
🌊
Steady Irregular Cash Flow
Bridge slower income periods and keep your obligations current through seasonal swings.
🏛
Settle CRA debts and liens that block your other options before enforcement escalates.
🧱
Rebuild Your Credit
Clearing overdue balances and simplifying payments gives your credit room to recover over time.
What a High Risk Mortgage Can Mean for Your Terms
Because an equity-based lender takes on more risk than a bank, the terms differ from a conventional mortgage. We believe in being upfront about that. This table is a general guide, and your exact terms are always set out in your written Cost of Credit Disclosure before you commit.
| Feature | Conventional Bank Mortgage | Equity-Based High Risk Mortgage |
|---|---|---|
| Main approval factor | Credit score and income | Equity in your home |
| Interest rate | Lower, for qualified borrowers | Higher, reflecting the added risk |
| Term length | Long, often 5 years | Shorter, often 1 to 2 years as a bridge |
| Income verification | Required | Often not required |
| Purpose | Long-term home financing | A bridge to rebuild and return to bank rates |
A high risk mortgage is meant to be a stepping stone, not a permanent solution. Every file we arrange includes an exit plan to move you back toward lower-cost financing.
Our Commitment to Responsible Lending
It would be easy to promise the world to someone who feels out of options. We will not do that. Turnedaway.ca is a licensed mortgage brokerage, and our job is to give you honest guidance, not just a transaction. We do not promise guaranteed approval, because no responsible lender can.
We do not arrange financing above 80% loan-to-value, with no exceptions. Property values can fall, and when a homeowner is already in financial difficulty, taking them to the edge of their equity creates risk we are not willing to accept on their behalf. If your request goes over the limit, we will help you restructure it rather than stretch you thin. Every deal leaves meaningful equity in place as a buffer, with an exit strategy built in to move you back toward lower-cost financing.
For borrowers who have enough equity and a clear exit strategy, we can sometimes structure the loan so that several months of payments, in some cases up to 12, are prepaid from the loan proceeds. This is not available on every file. It depends on having sufficient room within our 80% cap and a realistic plan to return to conventional financing, and we will tell you honestly whether your situation supports it.
The full cost of any solution, including the interest rate, lender fee, broker fee, legal fees, and appraisal, is disclosed in writing through a formal Cost of Credit Disclosure for your specific deal before you commit.
or call 1-855-668-3074
Real Client Results
Every situation is different. Here are three examples of how Turnedaway.ca helped homeowners the banks called high risk access their equity when traditional lenders said no.
Case Study 1 | Seasonal Income Challenges
Steadying Cash Flow Through Seasonal Income Swings
A Durham Region homeowner worked in a seasonal industry with income that fluctuated significantly throughout the year. Despite substantial equity, they were declined by their bank due to inconsistent income history and difficulty meeting traditional lending guidelines. With a home valued at approximately $780,000 and a mortgage balance of approximately $430,000, equity financing was arranged to access approximately $90,000 while remaining below 80% loan-to-value.
Result: The homeowner consolidated higher-interest debt, improved monthly cash flow, and gained stability during slower income periods.
Case Study 2 | Recent Missed Payments After Bankruptcy
Getting Back on Track After a Setback in Rebuilding
An Ontario homeowner had previously been discharged from a bankruptcy and had spent several years rebuilding their finances. Following an unexpected income interruption, they missed several payments, causing their credit score to fall back into the mid-500s. Their bank declined a refinance despite substantial equity. With a home valued at approximately $720,000 and a mortgage balance of approximately $390,000, equity financing was arranged to access approximately $80,000 while remaining below 80% loan-to-value.
Result: The homeowner consolidated outstanding debts, brought accounts current, avoided further credit deterioration, and gained time to continue rebuilding after their bankruptcy.
Case Study 3 | Income Challenges With Prior Credit Issues
Stabilizing After a Business Downturn
A homeowner had previously experienced credit difficulties following a business downturn and was now earning lower income than before. Although their financial situation had stabilized, both income and credit concerns led to multiple lender declines. With a home valued at approximately $850,000 and a mortgage balance of approximately $465,000, an equity-based mortgage solution was arranged to access approximately $120,000 while remaining under 80% loan-to-value.
Result: The homeowner consolidated debt, improved monthly cash flow, and established a clear plan to strengthen their overall financial position.
or call 1-855-668-3074
Where We Serve
Turnedaway.ca helps homeowners the banks call high risk across Canada. The cities below represent areas we serve regularly, but they are not an exhaustive list. We work with homeowners in every province and territory with the exception of Quebec, Newfoundland, Yukon, the Northwest Territories, and Nunavut.
Financing available from $25,000. Call us at 1-855-668-3074 or get started online today.
Frequently Asked Questions About High Risk Mortgages
What is a high risk mortgage?
A high risk mortgage is financing for borrowers the banks consider outside their guidelines, usually because of credit or income. An equity-based high risk mortgage is approved on the equity in your home rather than your score or income, which is why it is available when a bank says no.
Can I qualify with bad credit and low income?
Often, yes. Because approval is based on equity rather than your score or income, both bad credit and irregular or low income can still work. What matters is the equity in your home, capped at 80% of its value.
Do you offer guaranteed approval?
No. No responsible lender can guarantee approval, and we will not pretend otherwise. Approval depends on having enough equity within our 80% cap. What we can promise is an honest assessment and a straight answer.
Why are high risk mortgage rates higher?
An equity-based lender takes on more risk than a bank, so the rate reflects that. A high risk mortgage is meant to be a short-term bridge while you rebuild, with an exit plan to move you back to lower-cost financing.
Do I need to prove my income?
In most cases, no. Approval is based on your equity, not your paystub, which is what makes this work for self-employed, seasonal, and low-income homeowners. For borrowers with enough equity and a clear exit strategy, we can sometimes structure the loan so that several months of payments, in some cases up to 12, are prepaid from the loan proceeds. This is not available on every file and depends on your situation.
How much can I borrow?
Total financing is capped at 80% of your home's value, less any existing mortgage. The exact amount depends on your property value and current financing. Estimate it with our home equity loan calculator.
What does a high risk mortgage cost?
The full cost includes the interest rate, lender fee, broker fee, legal fees, and in most cases an appraisal. We provide a written Cost of Credit Disclosure before you commit, and we subsidize appraisal costs wherever possible. For a general overview, visit Canada.ca.
Can a high risk mortgage help me rebuild?
It can. Consolidating high-interest debt into one payment and bringing overdue accounts current gives your credit room to recover, which is the first step toward returning to bank rates.
How fast can I get approved?
Approvals are often available in as fast as 24 hours, with most files closing within 5 to 10 business days. Apply online to get started.
How soon can I move back to a regular mortgage?
It depends on how quickly your credit and income recover, but we build an exit plan into every file so you have a clear path to refinance back to conventional financing when you qualify.
Get Approved for a High Risk Mortgage Today
If you own a home, being labelled high risk does not have to be the end of your options. Apply today and get a response within 24 hours, with no obligation and full transparency on cost.
Get Approved Nowor call 1-855-668-3074
High Risk Mortgages in Ontario & Canada
A High Risk Mortgage for Homeowners the Banks Turned Down
If your bank labelled you high risk because of your credit or income, you still have options as long as you own a home. A high risk mortgage from Turnedaway.ca is approved on your equity, not your credit score or income history, so a low score, irregular earnings, or past setbacks do not have to be the end of the road. Learn more about home equity loans, second mortgages, and debt consolidation.
or call 1-855-668-3074
Approvals in as fast as 24 hours · No income or credit requirements · Financing from $25,000
Yes, you can get a high risk mortgage in Canada if you own a home with equity. Equity-based lenders approve based on the value in your property rather than your credit score or income, which is why financing is often available even after missed payments, irregular income, or a recent bank decline. Your home, not your credit file, does the qualifying.
24 hrs
Typical approval window through Turnedaway.ca, versus weeks of back and forth at a bank.
80%
Maximum loan-to-value we arrange, leaving real equity protected as a buffer.
$25K
Financing available from, with no income or credit requirements to apply.
0
Credit score minimum. Your equity, not your score, is what we lend against.
For how credit scores work, see the Government of Canada.
Why the Bank Calls You High Risk, and Why Your Equity Says Otherwise
Banks classify a borrower as high risk based on a narrow set of numbers: your credit score, your income stability, and your payment history. A single rough stretch, a job loss, an illness, a business downturn, a season of irregular earnings, can push you outside their guidelines, even when you have years of equity built up in your home.
Equity-based lending looks at the picture the banks ignore. What matters most is the value in your home, not the marks on your credit report or the shape of your income. That gives homeowners a path the banks simply do not offer, and many use it to consolidate debt, steady their cash flow, and create the breathing room to recover. For an independent overview of improving your credit, the Financial Consumer Agency of Canada is a helpful resource.
At Turnedaway.ca, we have helped thousands of clients the banks turned away by working with a wide network of alternative and private lenders. That is what allows us to arrange a high risk mortgage for homeowners other lenders have already declined.
How a High Risk Mortgage Works
Getting approved through Turnedaway.ca is straightforward, even if the banks have labelled you high risk. Here is what the process looks like from your first application through to funding.
Tell Us About Your Situation
Apply securely at apply.turnedaway.ca. Whether the issue is credit, income, or both, we start with where you are today, not the label the bank put on your file.
We Assess Your Equity
We review your home's value and existing mortgage to see how much room there is, staying within our 80% loan-to-value cap. Your credit score and income are not the deciding factors. Estimate your room with our home equity calculator.
We Match You to a Lender
We place you with a lender who funds based on equity, not credit or income, not just the banks that say no. An independent appraisal confirms your home's value.
Review Your Full Cost Disclosure
Every cost is laid out in a written Cost of Credit Disclosure before you sign anything, so there are no surprises. Your lawyer completes the legal work and registers the loan.
Close and Start Rebuilding
Consolidate debt, steady your cash flow, and follow the exit plan we build to return to bank rates once your situation recovers. Most files close within 5 to 10 business days.
Who Qualifies for a High Risk Mortgage?
Approval is based primarily on the equity you have built up, not your credit score, income, or employment status. Not sure how much equity you have? Use our home equity loan calculator to get an estimate.
Low or Damaged Credit
A score in the 500s, or even lower, does not disqualify you. With enough equity, we can often arrange financing regardless of your score.
Irregular or Seasonal Income
Income that rises and falls through the year will not stop us from looking at your file the way the banks do.
Self-Employed
No income verification or tax returns required. Your property qualifies you, not your paystub or Notice of Assessment.
Recently Declined or Discharged
A recent decline, or rebuilding after a bankruptcy or consumer proposal, does not put you out of reach.
At Least 20% Equity in Your Home
Because all of our lending stays within an 80% loan-to-value cap, you need meaningful equity in the property.
Equity can bring arrears current and stop a power of sale before it escalates.
or call 1-855-668-3074
How Much Can You Borrow?
The amount depends on your property's current value and the balance still owing on your mortgage. Turnedaway.ca does not arrange deals above 80% LTV, which protects you if property values decline. Here is a simple example for a homeowner the banks called high risk.
Simple Example
| Detail | Amount |
|---|---|
| Estimated Property Value | $780,000 |
| Maximum LTV at 80% | $624,000 |
| Existing Mortgage Balance | $430,000 |
| Equity You Could Access | up to $194,000 |
Commonly used to consolidate debt, steady cash flow, or bring arrears current. Use our home equity loan calculator for a personalized estimate. Financing available from $25,000.
What Can You Use the Funds For?
Homeowners use a high risk mortgage to take back control in several ways. These are the most common.
💼
Consolidate High-Interest Debt
Roll credit cards and loans into one lower payment by consolidating debt against your home.
🌊
Steady Irregular Cash Flow
Bridge slower income periods and keep your obligations current through seasonal swings.
🏛
Settle CRA debts and liens that block your other options before enforcement escalates.
🧱
Rebuild Your Credit
Clearing overdue balances and simplifying payments gives your credit room to recover over time.
What a High Risk Mortgage Can Mean for Your Terms
Because an equity-based lender takes on more risk than a bank, the terms differ from a conventional mortgage. We believe in being upfront about that. This table is a general guide, and your exact terms are always set out in your written Cost of Credit Disclosure before you commit.
| Feature | Conventional Bank Mortgage | Equity-Based High Risk Mortgage |
|---|---|---|
| Main approval factor | Credit score and income | Equity in your home |
| Interest rate | Lower, for qualified borrowers | Higher, reflecting the added risk |
| Term length | Long, often 5 years | Shorter, often 1 to 2 years as a bridge |
| Income verification | Required | Often not required |
| Purpose | Long-term home financing | A bridge to rebuild and return to bank rates |
A high risk mortgage is meant to be a stepping stone, not a permanent solution. Every file we arrange includes an exit plan to move you back toward lower-cost financing.
Our Commitment to Responsible Lending
It would be easy to promise the world to someone who feels out of options. We will not do that. Turnedaway.ca is a licensed mortgage brokerage, and our job is to give you honest guidance, not just a transaction. We do not promise guaranteed approval, because no responsible lender can.
We do not arrange financing above 80% loan-to-value, with no exceptions. Property values can fall, and when a homeowner is already in financial difficulty, taking them to the edge of their equity creates risk we are not willing to accept on their behalf. If your request goes over the limit, we will help you restructure it rather than stretch you thin. Every deal leaves meaningful equity in place as a buffer, with an exit strategy built in to move you back toward lower-cost financing.
For borrowers who have enough equity and a clear exit strategy, we can sometimes structure the loan so that several months of payments, in some cases up to 12, are prepaid from the loan proceeds. This is not available on every file. It depends on having sufficient room within our 80% cap and a realistic plan to return to conventional financing, and we will tell you honestly whether your situation supports it.
The full cost of any solution, including the interest rate, lender fee, broker fee, legal fees, and appraisal, is disclosed in writing through a formal Cost of Credit Disclosure for your specific deal before you commit.
or call 1-855-668-3074
Real Client Results
Every situation is different. Here are three examples of how Turnedaway.ca helped homeowners the banks called high risk access their equity when traditional lenders said no.
Case Study 1 | Seasonal Income Challenges
Steadying Cash Flow Through Seasonal Income Swings
A Durham Region homeowner worked in a seasonal industry with income that fluctuated significantly throughout the year. Despite substantial equity, they were declined by their bank due to inconsistent income history and difficulty meeting traditional lending guidelines. With a home valued at approximately $780,000 and a mortgage balance of approximately $430,000, equity financing was arranged to access approximately $90,000 while remaining below 80% loan-to-value.
Result: The homeowner consolidated higher-interest debt, improved monthly cash flow, and gained stability during slower income periods.
Case Study 2 | Recent Missed Payments After Bankruptcy
Getting Back on Track After a Setback in Rebuilding
An Ontario homeowner had previously been discharged from a bankruptcy and had spent several years rebuilding their finances. Following an unexpected income interruption, they missed several payments, causing their credit score to fall back into the mid-500s. Their bank declined a refinance despite substantial equity. With a home valued at approximately $720,000 and a mortgage balance of approximately $390,000, equity financing was arranged to access approximately $80,000 while remaining below 80% loan-to-value.
Result: The homeowner consolidated outstanding debts, brought accounts current, avoided further credit deterioration, and gained time to continue rebuilding after their bankruptcy.
Case Study 3 | Income Challenges With Prior Credit Issues
Stabilizing After a Business Downturn
A homeowner had previously experienced credit difficulties following a business downturn and was now earning lower income than before. Although their financial situation had stabilized, both income and credit concerns led to multiple lender declines. With a home valued at approximately $850,000 and a mortgage balance of approximately $465,000, an equity-based mortgage solution was arranged to access approximately $120,000 while remaining under 80% loan-to-value.
Result: The homeowner consolidated debt, improved monthly cash flow, and established a clear plan to strengthen their overall financial position.
or call 1-855-668-3074
Where We Serve
Turnedaway.ca helps homeowners the banks call high risk across Canada. The cities below represent areas we serve regularly, but they are not an exhaustive list. We work with homeowners in every province and territory with the exception of Quebec, Newfoundland, Yukon, the Northwest Territories, and Nunavut.
Financing available from $25,000. Call us at 1-855-668-3074 or get started online today.
Frequently Asked Questions About High Risk Mortgages
What is a high risk mortgage?
A high risk mortgage is financing for borrowers the banks consider outside their guidelines, usually because of credit or income. An equity-based high risk mortgage is approved on the equity in your home rather than your score or income, which is why it is available when a bank says no.
Can I qualify with bad credit and low income?
Often, yes. Because approval is based on equity rather than your score or income, both bad credit and irregular or low income can still work. What matters is the equity in your home, capped at 80% of its value.
Do you offer guaranteed approval?
No. No responsible lender can guarantee approval, and we will not pretend otherwise. Approval depends on having enough equity within our 80% cap. What we can promise is an honest assessment and a straight answer.
Why are high risk mortgage rates higher?
An equity-based lender takes on more risk than a bank, so the rate reflects that. A high risk mortgage is meant to be a short-term bridge while you rebuild, with an exit plan to move you back to lower-cost financing.
Do I need to prove my income?
In most cases, no. Approval is based on your equity, not your paystub, which is what makes this work for self-employed, seasonal, and low-income homeowners. For borrowers with enough equity and a clear exit strategy, we can sometimes structure the loan so that several months of payments, in some cases up to 12, are prepaid from the loan proceeds. This is not available on every file and depends on your situation.
How much can I borrow?
Total financing is capped at 80% of your home's value, less any existing mortgage. The exact amount depends on your property value and current financing. Estimate it with our home equity loan calculator.
What does a high risk mortgage cost?
The full cost includes the interest rate, lender fee, broker fee, legal fees, and in most cases an appraisal. We provide a written Cost of Credit Disclosure before you commit, and we subsidize appraisal costs wherever possible. For a general overview, visit Canada.ca.
Can a high risk mortgage help me rebuild?
It can. Consolidating high-interest debt into one payment and bringing overdue accounts current gives your credit room to recover, which is the first step toward returning to bank rates.
How fast can I get approved?
Approvals are often available in as fast as 24 hours, with most files closing within 5 to 10 business days. Apply online to get started.
How soon can I move back to a regular mortgage?
It depends on how quickly your credit and income recover, but we build an exit plan into every file so you have a clear path to refinance back to conventional financing when you qualify.
Get Approved for a High Risk Mortgage Today
If you own a home, being labelled high risk does not have to be the end of your options. Apply today and get a response within 24 hours, with no obligation and full transparency on cost.
Get Approved Nowor call 1-855-668-3074