Once you have verified your downpayment and income, you will also need to show the lender that you are a relaible borrower, with your credit history and that you will make your mortgage payments on-time. These habits are reflected in your credit rating. To have a credit rating you will need two revolving sources of […]
If your debt is piling up – credit cards, store cards, car and loan payments– then the interest that you’re paying could be standing in the way of your financial security. If interest rates go up, it could get a lot worse. The good news is that Canadian homeowners have a great option: debt consolidation. […]
When your mortgage application is being considered, your lender will look at your credit habits: do you pay your bills on time? Do you tend to get over-extended on your credit card? These habits are reflected in your credit rating. In order for your lender to assess your borrowing profile, you’ll need two revolving sources […]
Discharged from a bankruptcy or consumer proposal and wondering if purchasing a home is possible? Speak to an expert at MiMortgage.ca at 1 866 452-1100 for more information.
Not all debt is created equal – and not all debt is bad. In fact, you need some debt to establish a good credit rating. Being a responsible borrower means knowing which types of debt can help you reach your financial goals and which types leave you further behind. So how do you distinguish between […]
As a potential home buyer, you know that you do not want to get in to a home that you cannot afford, as this is not the future that you want for you and your family. With bad credit you will find that sometimes, a difficult past stands in the way of a bright future. […]