Eligibility for a subprime mortgage is generally less strict than eligibility for a normal mortgage. Standard requirements include: Canadian residency, age of majority in your province, and a home to secure the mortgage against. As the value of the property is the most important factor with subprime mortgages, the home in question must be in a marketable urban area, to ensure resale value. Subprime mortgages tend to have minimal credit score requirements. Income level, proof of employment, size of down payment and existing debt levels are all also potential factors.