I have worked with Mahsa for 8 years. She is a thorough, professional mortgage agent. In addition to her knowledge, I feel her number one character trait is her dedication to client service. We work well together.
Please read below.
- Milind Jog
So, let’s break down how you can achieve the optimal credit for maximum loan qualification & best rates based on your overall portfolio.
Firstly, you should have the ability to demonstrate that you are trustworthy with credit & have been extended credit. Remember the triple 2 rule. So, ideally you should have 2 credit cards which have been active for a minimum 2 years and have a limit of minimum $2000 per card.
Secondly, the credit card payments should be managed by having at least the minimum monthly payment paid every month on time. Now, let’s discuss on time. Let’s say you have a credit card with Bank A but you pay the payment from your account from Bank B. When you make your monthly payment, it will take a few days for the payment to get posted from one institution to another. So, set your payment date a week before the actual date to make sure the payment by the creditor is received on time.
And lastly, you have to show the ability to manage & use your extended credits responsibly. Rule of thumb: Never keep a balance of more than 70% of the limit of your credit cards. Failing to do so will affect your credit negatively by reducing your credit score & also making you less desirable to potential mortgage lenders.
The Mortgage Centre
4040 Steeles Ave W U5 Vaughan, ON L4L 4Y5
Cell: (647) 292-5199