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If buying a Waterloo Region home is on your radar this year, then no doubt you are already thinking about your finances. If you are a first-time buyer and will need a mortgage to purchase the home of your dreams (for now) it may worry you about your chances of being approved (or, as we prefer in the real estate business, pre-approved)
Your credit score is increasingly important these days, since not only can a poor score impact your ability to get a loan for a home, or increase the amount of interest you will pay on a mortgage loan. It is not the only factor that lenders consider when you apply for a home loan, but it is a big part of that decision.
Is your score below 680? If the answer is yes, then you may want to start doing something about it, as a score below 680 is considered somewhat unfavorable by most Canadian banks and lending institutions, especially when it comes to getting a mortgage.
But the simple fact is that 90% of the things you read and hear about credit scores are false and that really needs to change. Most people think that they understand credit scores when in truth, less than 10% of these people have any idea what they’re talking about. That’s not actually a scientific fact, but based on our experience it is close. So, as a Realtor and qualified mortgage agent herself Angelica is going to turn you into part of that well-educated minority via a special white paper “Team Pinto’s Ultimate Guide to Your Credit Score.”
The white paper will guide you through everything you need to know about your credit score. Here’s a look at what it covers:
- Why Should You Care About Your Credit Score?
- What is a Credit Report?
- What is a Credit Score?
- How Your Credit Score is Calculated
- What is a Good Credit Score?
- How Do You Check Your Credit Score?
- How to Build and Maintain a Good Credit Score
- Common Credit Score Myths
- Tips for Fixing Bad Credit Scores
Ready to start learning? Download your copy of our free report here
Need expert mortgage advice? Get in touch with Angelica here