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30 Aug

Quick Guide to Equifax Credit Score. Mortgage Market Update August 30, 2018

General

Posted by: Anne Martin

 

 

 

 

 

Mortgage Agent #M1000225739 Collier St. #306
Barrie Ontario L4M 1G5
Phone: 705-791-6683 | Email: anne@ndlc.ca
http://www.barriemortgagelocators.com

MARKET UPDATE

A Quick Guide to Your Equifax Credit Report & Equifax Credit Score

Your credit score is important when you’re in the market for a mortgage or other type of loan.  Factors relating to how much credit you have, how much of your credit limits are utilized and how you manage and make payments all contribute to the determination of your credit score.    Most creditors and lenders take all these into consideration when deciding whether or not you are a worthy credit risk.  Keeping all debts paid on time and utilizing a maximum of 75% of your credit limits will provide you with a high credit score and prove you are a good risk for credit and loans.

Watch this quick video to learn the basics on what goes into a credit report, how credit reports relate to credit scores, and how lenders may use them to make financial decisions about you.

Have questions? I’m here to help!

Best fixed rates are as low as *3.29 – 3.69 % for a 5 year fixed,
variable rate mortgages from as low as p-.95%
Prime Rate is 3.70%

*High Ratio/Quick Close Specials
This is a critical time to sit down and review your household financing needs. Please do not hesitate to contact me should you have any questions.

If you are in the market for a home, book an appointment today to see how the recent regulatory changes by the Office of Superintendent of Financial Institutions will affect your purchase.

**rates subject to change with market conditions – *OAC  **conditions apply E. & O. E.

Terms Bank Rates Our Rates
6 Month 3.14% 3.10%
1 YEAR 3.04% 2.99%
2 YEARS 3.44% 3.24%
3 YEARS 3.59% 3.39%
4 YEARS 3.89% 3.54%
5 YEARS 5.59% *3.29 – 3.69 %
7 YEARS 5.80% 3.79%
10 YEARS 6.10% 3.99%
Rates are subject to change without notice. *OAC E&OE

 

 

 **Please note that rates shown above are subject to change without notice. The rates shown are  posted rates and the actual rate you receive may be different, depending upon your personal financial situation. “Some conditions may apply. Rates may vary from Province to Province. Rates subject to change without notice. *O.A.C. E.& O.E.”

Check with your Dominion Lending Centres Mortgage Professional for full details and to determine what rate will be available for you.