Mortgage After Bankruptcy Ontario

Getting a Mortgage After Bankruptcy in Ontario

Bankruptcy is not permanent when it comes to your mortgage future. Once you are discharged and your credit is rebuilding, a mortgage is often possible, and the timeline depends on your situation.

We are an FSRA-licensed Ontario mortgage brokerage, not a Licensed Insolvency Trustee. We arrange mortgages with lenders who work with borrowers who have a bankruptcy in their past, subject to qualification.

Written by the HB Mortgage Centre team. Reviewed by Hardeep Batoo, Principal Broker (licence M13002408). HB Mortgage Centre is an FSRA-licensed brokerage (#13449). Last updated: June 23, 2026.

Request a no-pressure assessment Call (647) 542-6100

FSRA Brokerage #13449Â·Hardeep Batoo, Broker Licence #M13002408Â·Ontario-wideÂ·Post-bankruptcy files reviewed

The basics

How does bankruptcy affect your mortgage options?

While a bankruptcy is undischarged, mortgage options are very limited. Once you are discharged, and as the bankruptcy ages on your credit report, options open up, usually starting with alternative or private lenders that focus on equity and income. A first bankruptcy is generally removed from your credit report about six years after discharge, though some bureaus and provinces use seven years (for example, TransUnion in Ontario), so this can vary (Source: OSB / FCAC).

Who it's for

How long do you have to wait, and what do lenders look for?

Lenders generally look for a discharge, a period of rebuilt credit, and stable income before offering better terms. Mainstream (A) lenders typically want about two years of re-established credit after discharge for best-rate approval, while alternative and private lenders may lend sooner at a higher cost. The two-year figure reflects common lender underwriting practice, not a regulation: the OSB and FCAC govern how long a bankruptcy stays on your credit report, not when a lender will approve you. Exactly how long depends on the lender and your file. We will tell you what is realistic.

During rebuild: alternative or private lending, equity-focused, at a higher cost. See [private mortgages](/private-mortgage).

As credit recovers: you may move toward better terms over time.

Toward a bank: with a clean, rebuilt file, stronger options become possible. None of this is guaranteed; it depends on your circumstances.

How it works

What does the path back to a mortgage look like?

During rebuild

alternative or private lending, equity-focused, at a higher cost. See private mortgages.

As credit recovers

you may move toward better terms over time.

Toward a bank

with a clean, rebuilt file, stronger options become possible. None of this is guaranteed; it depends on your circumstances.

How we help

We review your discharge status, your credit, and your goal, then match you with lenders who fit. We explain the options and the cost in plain language. If one lender has already said no, that is one lender's answer, not the market's; we work with more than 50 lenders and have arranged over $1 billion in mortgage funding since December 2021. Everything is subject to qualification and lender review. We provide mortgage guidance, not insolvency advice, and we do not promise approval or a timeline.

See: private mortgage Ontario →

FAQ

Frequently Asked Questions - Mortgage After Bankruptcy Ontario

Can I get a mortgage after bankruptcy in Ontario?+

Often yes, after discharge and as your credit rebuilds, subject to qualification. The path usually starts with alternative or private lenders.

How long after discharge before I can qualify?+

It depends on your credit rebuild and the lender. Mainstream (A) lenders typically want about two years of re-established credit after discharge for best-rate approval, while alternative and private lenders may lend sooner at a higher cost. That is common lender underwriting practice, not a regulation. We will tell you what is realistic for your file.

What do lenders look for after bankruptcy?+

A discharge, rebuilt credit, and stable income, alongside your equity and the property.

Does bankruptcy stay on my credit report?+

Yes, for a period set by the credit bureaus. A first bankruptcy is generally removed about six years after discharge, though some bureaus and provinces use seven years (for example, TransUnion in Ontario), so this can vary (Source: OSB / FCAC). Its impact lessens as it ages and as you rebuild.

Does HB administer bankruptcies?+

No. A Licensed Insolvency Trustee does. We arrange mortgages.

Will my rate be higher after bankruptcy?+

Usually at first. Alternative and private lenders price for the added risk, so early options tend to cost more. As your credit rebuilds, better terms may become possible over time. Nothing is promised; it depends on your file.

What if I filed a consumer proposal instead?+

The path is similar but the details differ. See mortgage after a consumer proposal.

Find out what is realistic for you

Tell us where you are and we will tell you, without judgment, what is realistic now and later. No cost, no obligation.

What happens next: A private, no-pressure conversation about your discharge status and credit, free of charge. Then we tell you what is realistic now and what becomes possible later, in plain language. If you proceed, the same broker handles your file throughout. No approval or timeline is promised.

Apply Call (647) 542-6100

Qualification subject to lender approval, credit assessment, property appraisal, and market conditions. Consult a Licensed Insolvency Trustee and an Ontario lawyer for advice specific to your bankruptcy. O.A.C. E.&O.E.

FSRA Brokerage #13449 Â· Hardeep Batoo, Broker Licence #M13002408 Â· Ontario-wide

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