Your credit score is a key element when applying for a mortgage. It is very important that you take care of your credit from the day you get your first credit card. Small credit issues can haunt people when trying to apply for a mortgage, even if those issues were years ago.

Here are a few tips to help ensure you maintain a clean credit profile:

– Always pay your debts on time. At the very least, make your minimum payment.
– Avoid frequent credit checks
– Keep your balances at 75% or below the limits
Some debt is good (and necessary) but no one needs 7 credit cards
– Most lenders will want to see that you have at least 2 pieces of active credit with at least a 2 year history on each

If you’d like to know more about your credit and how to maintain it, we’re happy to help.

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The Mortgage Professionals Kingston Office
777 Blackburn Mews West
Kingston, Ontario
K7P 2N5

Jeff: 613-453-3663
Mitch: 613-328-6647
Fax: 613-384-4047

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