Lets start with the definitions: Your credit score is a number, based on specific information that gets displayed on your credit report. If you are struggling with high credit card debt with high rates, your credit score may be at risk. Using a mortgage vehicle cab help you pay down debt to save your credit before it’s too late.The table below provides a great overview showcasing credit scores and their attributed. To find out your credit score, and monitor it visit Equifax Canada.
5 key factors impact your credit score (Money Coach)
Considering that your Payment History and Amount Owed make up the biggest buckets on the credit management score card, leveraging your home equity to pay down high-interest consumer debt and managing to lower the amounts could help you improve your financial health and score.
Having trouble getting a mortgage due to bruised credit, we will help you seal a mortgage without multiple credit hits.