Bruised credit pre-approval in Ontario.

Prime lenders want clean 24-month credit histories. B-lenders accept credit events with documented context and a repair plan.

Ontario adds its own layer. Two distinct files: GTA/GTHA condo + freehold underwriting, and the rest of the province. Lenders treat them differently on appraisal risk. That matters here because underwriters are already scrutinizing the income side of a bruised credit file — a property or program complication local to Ontario can push a marginal file over the edge.

Provincial Land Transfer Tax on a sliding scale; Toronto adds a municipal LTT that effectively doubles the bill inside city limits.

Programs to check eligibility for in Ontario:

• First-time buyer LTT rebate up to $4,000
• Toronto municipal LTT rebate up to $4,475
• Federal First Home Savings Account (FHSA)

• Letter of explanation for each credit event
• Proof of resolution (paid-in-full letters, consumer proposal completion certificates)
• Current credit report

Ontario nuance: Employment letters from Ontario employers are scrutinized for probation clauses; underwriters frequently call HR to verify.

• Status certificate review on condos is non-optional, not a formality.
• Some lenders cap exposure in specific GTA postal codes.
• Property tax estimates on new builds often understate year-2 assessments.

Underwriter view of this scenario: Underwriters look for what caused the event, how it was resolved, and what has changed since. A documented one-off (medical, divorce, layoff) clears differently than a pattern.

• Pay every account on time for 24 consecutive months
• Keep utilization under 30%
• Resolve any collections before applying

• Any active collection at application time.
• Unfiled or unpaid taxes.
• A consumer proposal that has not yet been discharged.