Think Ahead if You are Buying a Home in Kitchener - Waterloo Next Year

If you are considering buying a home soon, this time of year can be dangerous!

The top three factors in determining mortgage eligibility are income/debt ratio, credit report and down payment.

With Christmas coming, be  very careful on what credit you apply for and how you spend.  Applying for "don't pay for 6 months" promotions and department store credit cards (which usually carry the maximum interest rates over 25%) will negatively affect your credit rating. 

To see how lenders assess your debt to income ration, click HERE.

I recommend you get your credit report yearly to check for errors and make sure things are as you assume.  Click HERE to see how to access your credit report for free.  You should always get an updated credit report prior to shopping for a house.

Contact me today for a free Home Value Report or Home Buyer's Toolkit!