I just made my annual RSP CONTRIBUTION and with tax season upon us I thought you would be interested to read some info on YOUR CREDIT and how good is it ?!
Almost all potential buyers say "I don't have a problem with credit". That may be true. However, according to industry experts, most people are surprised by at least one piece of information in their credit report. And it only takes one derogatory item to create an obstacle to getting the best mortgage rate or even qualify for financing at all.
That is why I recommend to check your report before you intent to purchase a home. You can then deal with any unexpected issues.
For example....you may discover an error. They may have an old address. This isn't unusual....if so immediately notify the credit bureau and make sure the promptly make the correction.
If you make late payments, it will be noted on your credit report. I suggest you write a letter to the credit bureau telling your side of story and this will accompany your application to any lender you apply. Most banks will accept a good explanation ie. laid off, sickness as long as everything else in report is fine.
HOW DO YOU GET YOUR CREDIT REPORT ?
- Equifax www.equifax.com
- Trans Union www.transunion.com
You can order the report from these websites at a reasonable price. Getting your report and checking its accuracy will ensure that your home buying process will go a lot more smoothly.
If you would like some more info on credit reports simply call or email me. I will gladly put you in touch with someone I am confident will be able to help you.
Have a good week !!