ORIGINALLY PUBLISHED in Canadian Mortgage Trends After you file a consumer proposal * , the last thing on your mind might be a new mortgage, but you may be a lot closer than you think. Maybe you wish to buy a home, or you own a home and are interested in refinancing your mortgage. Let’s first talk about purchasing a home. When Can You Buy A Home After A Consumer Proposal? Actually, this question comes up often. People want to know how soon can they buy. Sometimes they ask right after they file their consumer proposal, and other times it’s more than five years later, after they’ve paid it off in full. First things first: pay off your consumer proposal completely before you take on major new mortgage debt. If you have at least a 20% down payment, you may even be able to buy as soon as you complete your consumer proposal! As in, immediately. You will almost always be working with either a B-lender or a private lender, but it is doable...
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