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How To Get High Ratio Mortgage?

Are you 18 years old and ready to take on the house of your dreams? Getting a high ratio mortgage can be a great way to make your home purchase a reality. But how do you get a high ratio mortgage? There are a few key steps you can follow to make sure you qualify for the best possible rates and terms. In this article, we’ll explore what a high ratio mortgage is and how to get one. From understanding the basics to understanding the risks, this guide will help you make an informed decision that’s right for you.

Check credit score

As an 18-year-old, it’s important to take the necessary steps to ensure you can get a high ratio mortgage. This means that you need to check your credit score and make sure it’s as high as possible. The best way to do this is to pay your bills on time, keep your credit card balances low, and avoid taking on too much debt. It’s also important to review your credit report annually to make sure there are no mistakes that could affect your credit score.

Compare rates

Comparing high ratio mortgage rates can be confusing and time consuming. Luckily, there are plenty of online tools to help you compare and find the best deal. I’m 18 and I’ve used this to find great deals on high ratio mortgages. It’s easy to use, and I’m glad I took the time to compare rates and save money.

Calculate affordability

Calculating your affordability when considering a high ratio mortgage is key. To know what you can actually afford to pay each month, take into account your total monthly income, any debts or loans you have, and other commitments such as car payments or medical bills. Crunching the numbers with a mortgage calculator or speaking with a mortgage broker can help you determine the best high ratio mortgage for you.

Find lender

Finding a lender who offers high ratio mortgages can be daunting. Luckily, there are a few helpful resources available to help 18 year olds take this important step. Websites like and can help you compare lenders and find the best mortgage rates. Additionally, you can find a broker in your area through the Canadian Association of Mortgage Professionals. Doing your research and shopping around can help you find the best high ratio mortgage for your needs.

Submit documents

Submitting documents to get a high ratio mortgage can seem like a daunting task. But with a bit of preparation, it’s actually quite simple. Gather your recent pay stubs, bank records, tax documents, and any other relevant financial information. Then make sure you have a valid photo ID and a copy of your credit report. Finally, submit everything to your lender and you’ll be well on your way to getting the mortgage you need.

Receive approval

Getting approval for a high ratio mortgage can be tricky! But with the right preparation and information, it is possible. First, you need to make sure that you have a good credit score and that you have the ability to make the payments on the mortgage. You also need to provide proof of income, and make sure that your debt-to-income ratio is low. Finally, you should shop around to get the best rates and terms. With some research and preparation, you can get approved for a high ratio mortgage!

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