So what is a good score?
There are two items that are considered when looking at a credit score.
First, the score
Under 629 - Poor
630-689 - Fair
690-719 - Good
Over 720 - Excellent
Second, the history
Say for example you just got your first credit card and use it for 6 months without missing any payments, you may have a score of 700. But that is a fairly weak credit report, compared to someone who has 20 years of credit history with the same 700 score.
How do we help?
We are very experienced at reading credit reports, and it takes a keen eye to be able to tell what is damaging a credit report the most. Sometimes it may be that a client is just over limit, and we need to pay down some debt. Other times it may be more complicated, if collections, judgments, liens, bankruptcy or other serious problems are detected. Or it could be there is just too little credit. For any of these scenarios we can help.
-Paying down debt through a debt consolidation mortgage
-Paying off liens, collections, bankruptcy, CRA taxes, property taxes and Judgments
-Helping to reestablish credit after the mortgage, with secured VISA's that report to the bureau
-Paying off a consumer proposal using the mortgage to jump start the credit repair process
Lower Rates Sooner
By paying off debts, collections, consumer proposals, bankruptcy and any other kind of debt your credit will start regaining lost points immediately. Depending how broken the credit is, the interest rates may be higher for a few years, but often pale in comparison to the interest rates being charged on credit cards, consumer proposals, credit aid services and more. We look at it as a little bit of short term pain, for a long term gain. We don't believe in bandaid solutions, we want a long term plan that works!
Do any of these situations look like yours?
Whether you have perfect credit, or have serious credit issues, we can help.
Let's Begin by filling out our Mortgage Application or Contact Us Form below
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