Credit Score Ranking 


Key to building a strong credit history

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Banks and "A" Lenders pay us for your residential service. EXCEPT bad credit mortgages, some self employed mortgages from "B Lenders", private mortgages or multi-use and commercial loans - broker fees are payable by clients. Lenders change their products and interest rates without notice.

..... follow me to get mortgage updates ... Marie Copeland @AxcessMortgage

Credit score ranking is key to building strong credit history. Lenders use credit score rating scale to determine your credit worthiness. Follow the simple steps below -- it may take some time and work but the benefits are worth the effort. Good credit score rating has its perks; the biggest is the easy access to affordable financing.


Things that harm your credit score ranking

Each situation is unique and requires an individual assessment. But to start, let's take a look at few basic tips to maintaining a good credit score range:

If you have no credit score at all, the first step is to get a secured credit card. 

  • If you have credit cards, all late payments will set you back - 2 months in arrears on your credit card can set you back up to 2 years from getting best mortgage deals;
  • Be careful who is pulling your credit - you lose points with each inquiry. A signed consent form is required to pull your credit - when you sign those retail store promo forms, there is always a consent clause hidden in the small print. When you go to the bank, they share your information with all their affiliates -- credit cards, investment houses, and others soliciting your business -- and they will pull your credit again and again to gather information about you. We only pull your credit once and if for some reason the first lender turns you down for a mortgage, your application is redirected to other lenders with the original credit report attached;
  • If you are running too close to your credit limit, this will also damage your credit score. While you're rebuilding your credit, take a look if debt consolidation help can be a short term solution.
  • If things have gotten out of control, don't delay - take a look how bad credit home loans (2nd mortgages) can help, until you get back on track.
  • Using private lenders is a good short term fix strategies until your credit rebuilds.
  • If your debt has been placed into collection and you're disputing charges, pay the debt first and then dispute. Every month your debt is in collection your credit is going down the tubes. It takes a long time to rebuild credit and in the meantime you will not be able to get affordable financing.
  • Stay on top of your credit score ranking details so that you always qualify for the residential mortgages you deserve;
  • Monitoring your credit annually is important to ensure identity theft protection.

If you need to apply for a residential mortgage or a debt consolidate loan please give me a call for a free assessment. Together we'll review your circumstances to get you best mortgage solutions.

Marie Copeland FSU, Bad Credit Mortgage Hamilton Ontario


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