Information for Buyers:

Having good credit is an important factor that can determine whether or not you are approved for a mortgage. Often mistakes or erronous information can appear on people's credit reports which can prevent them from being approved for a mortgage, or at the very least stop them from getting approved at a better interest rate.

Here are a couple of tips for improving your credit rating prior to applying for your mortgage. Make sure you have been making payments on time, especially to unsecured credit cards. While it's important to establish credit, be careful not to apply for too many loans. Opt to pay by check, debit, or cash when you run out to buy that new bedroom set, fridge & stove, or big screen television.

Do a credit check on yourself. It only takes a few minutes to pull up your credit report at Equifax.ca if there are errors on your credit report you can dispute them through their dispute process.