Whether it is buying your first home, refinancing, planning renovations or looking at credit repair, you should be working with a Mortgage Advisor. They can save you thousands of dollars with the right financial solution.
The “Rate” Game – The important thing to remember is that it isn’t about getting the lowest rate out there, but rather getting the best possible rate that you qualify for. A mortgage advisor has access to rate specials and also will...
When you're writing out your New Year's resolutions this year, why not add "improve my credit score" to your list? By including a resolution to improve your personal financial literacy, you will not only be boosting your credit score, but will also be putting yourself in a much stronger financial position when it comes to getting better rates on future credit and helping you buy a home. Follow these small steps below to get you started on your way...
Many Lenders use credit bureau scores as a key part of the approval process. Credit scores are a statistical method of predicting a consumer's financial risk over a period of time. Your previous credit behavior is used to determine your credit score which is primarily derived by payment history, outstanding debt, credit account history, recent inquiries and types of credit on your credit bureau record. The two credit reporting agencies in Canada—Equifax and TransUnion—determine your credit score on a scale from 300 to 900 – the higher your score, the better.
The five main factors looked at by lenders are...