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Brantford (2016 population 97,496; CMA population 134,203) is a city in southwestern Ontario, Canada, founded on the Grand River. It is surrounded by Brant County, but is politically separate with a municipal government of its own that is fully independent of the county’s municipal government.
Brantford is named after Joseph Brant, an important Mohawk chief during the American Revolutionary War and later, who led his people in their first decades in Upper Canada. Many of his descendants, and other First Nations citizens, live on the nearby Reserve of Six Nations of the Grand River, 20 kilometers from Brantford; it is the most populous reserve in Canada. Brantford is often known as the “Telephone City”. The city’s famous resident, Alexander Graham Bell, invented the device at his father’s homestead, Melville House, now the Bell Homestead.
Most Canadian banks have to follow strict rules for mortgage approval due to tight government regulation. Bank regulations disqualify many Canadians from obtaining bank mortgages, leaving them to seek alternative financing solutions. Banks require mortgage applicants to have a high credit score, a high income, and a large amount of home equity. The private mortgage industry developed in Canada in order to cater to the needs of people who were turned down by banks. Private mortgage lenders are not subject to the same restrictions as banks and they are able to finance to people with bad credit. We have a network of private lenders that offer bad credit mortgages in Brantford.
Banks require a credit score of at least 600 to approve a mortgage in Brantford. Generally, people with poor credit have a history of not making payments, which is concerning to banks. With a poor credit score, a homeowner can still get financing from a private lender. Instead of relying on credit score, private lenders mainly focus on the mortgages registered on a home and the value of the home to decide whether to approve a mortgage.