Credit Score Tips and Tricks!
August 1, 2017
Challenged Credit? We can help provide you Mortgage options
MMG Mortgages can steer you in the direction to home ownership. We can help navigate through the complex world of credit bureaus and provide you with the tips and tricks to better your score, improve your credit and obtain an approval! We have helped hundreds of applicants with bruised credit get into their homes faster. Often times, we can find a solution outside of their charter bank and obtain immediate approvals while other times we will work with the applicant for years if needed and get them into a positive position to purchase.
Credit Tips and Tricks:
- Having high balances on your revolving credit will reduce your score.
- Having multiple hits or credit inquiries can reduce your credit score.
- Having limited credit can poorly affect your scoring.
- Paying off your credit card in full each month, or applying large lump sum payments, opposed to your minimum payment due, will help improve your credit score.
- The higher your credit score, the higher the mortgage you will qualify for (score reporting 680+)
- You can monitor your credit report online for a small fee by registering through Equifax Canada at www.Equifax.ca
Credit scoring makes creditworthiness predictable
Contact a Mortgage Associate today at MMG Mortgages to help Navigate you through the crazy world of Credit and mortgage approvals.
Self Employed Mortgage Financing
September 2, 2016
It’s a normal week if we have a few calls from self employed individuals that are having a hard time obtaining an approval for a new mortgage – whether a purchase or a refinance. The criteria for self employed clients can be slightly different than traditionally employed clients, but still very possible! We have options no matter how much you declare personally, call us today to review your application and find the best solution for your new financing!
Types of Down Payment
August 31, 2016
What are your options for down payment on your new home? One of our most common questions is this. Here are a list of down payment options for a new purchase. Note that it’s possible to have a combination of a few of these sources that will make up your down payment.
August 4, 2016
Bridge the gap between your home sale and purchase with interim or bridge financing. When your down payment is coming from your home sale it can be stressful trying to match up your possession dates, but you don’t need to! Setting up interim financing can be a quick an easy part of your mortgage process!
Purchase Plus Improvements
August 1, 2016
Found that perfect home but it’s missing something? Include those final touches in your new mortgage! Whether it’s a garage, or a new roof, there are options for adding these much needed improvements into your new home mortgage!
Looking to purchase land?
July 28, 2016
We can help you purchase land – whether it’s inner city for a build or a recreational lot!
Considering a rental property? What kind of landlord will you be?
July 24, 2015
Buying your first rental property can seem like a daunting task, especially if you have never been a landlord before. Who is your right demographic to rent to based on the type of dwelling you are renting and also the area of the city it is located. Check out this article that gives a brief overview of some pluses and minuses of a few different rental scenarios.
Seniors Deferred Property taxes program
June 11, 2015
With our aging population and more and more seniors wishing to stay in their own home longer, this program may just gain some popularity. Check out this link for more info about the Deferred Property Tax program offered through ATB and the Alberta Government;