Tag

credit score
_completed consumer proposal 700450X THUMBNAIL (3)
A horrible credit score after finishing a consumer proposal isn't necessarily your fault. Many who've completed a consumer proposal are surprised to learn that numerous mistakes on their credit report are doing serious harm to their credit score.
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mortgages 101 700450X THUMBNAIL
Most first-time buyers lack sufficient funds to purchase their home outright and require loan financing (a mortgage) to make it work. In this article, we cover the basics of getting your first mortgage.
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Rebuilding Credit After a Consumer Proposal or Bankrupcy
Published: • There is no question after you file a consumer proposal or personal bankruptcy, your credit score is going to take a beating. Credit scores range from as low as 300 to 900, with most Canadians in the 600’s and 700’s. After you file a consumer proposal, expect your score to drop into the...
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improve credit in canada fast
Situations often arise where a new mortgage application, or car loan/lease, is impacted by a credit score that's lower than expected. Frequently errors, or reported items negatively affect your score, but these can be quickly fixed. A couple of case studies show how.
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Published: •  Here in Canada, your credit score always matters — even when you are applying for a mortgage with an alternative lender or a private mortgage lender. It’s true they specialize in helping borrowers with damaged credit, but they still want to see signs of rehabilitation and repayment performance in the applicant’s track...
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co-signing a mortgage myth700450X THUMBNAIL
What makes a strong mortgage co-signer? Not a great job, nor huge equity with tiny mortgage, nor a fantastic credit score is enough on its own. Sky high housing costs have many asking whether a co-signer can help with mortgage qualification. What are lenders looking for in a co-signer?
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Published: • Co-signing Someone Else’s Mortgage Leaves You Vulnerable To Potential Credit Problems I met a couple recently who want to refinance their house to pay off some debts. Their home is worth $900,000 and their current mortgage is $450,000, so with lots of equity to play with you would think this will be really...
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How can you buy a home in the near future and build your credit at the same time? This morning I received an email from a reader who is re-establishing his credit history and interested in buying a home next year. Hello Ross, I need your help on credit building. I think everyone’s situation is...
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Buying As Much House As You Can Afford, and Not Working to a Budget Can Set You Up for Failure In our zeal to qualify for a mortgage, we strive to meet the debt service ratios used by all major mortgage lenders. The rule of thumb the lenders use is your mortgage payments, property taxes...
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Published:   •  Important tips about your personal credit history 1. Your credit score changes all the time You can check your own credit score at either Equifax or Trans Union’s website. The report will remain available to you online for a month – but remember, it is changing all the time, as new information...
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