Bruised Credit?

Do you have less-than-perfect credit?

HOMEGUARD CAN HELP

If you have less-than-perfect credit rating, finding a mortgage can be very challenging. agents are specialists in this market, we will provide you with support throughout the entire process to make it as simple and painless as possible. We deal with over 42 lenders and can help you re-establish your credit to make sure you get the very best deal available.

We can help with purchases and refinances, even with previous bankruptcy, judgements, and collections.

We offer:

Up to 40 year Amortization Options
Cash Out Equity
Full/limited or stated income documentation
Consolidation of high interest credit cards and loans

Do you ever wonder what effects your credit read click below and find out.

TransUnion Canada and inchargecanada.ca

(Nov 10, 2008)

* Lower your debt-to-income ratio by paying off debts. This will increase your credit score and get you better rates and terms on loans. Lenders have various criteria, but two general rules of thumb are common:

1) Your entire monthly debt load should not be any more than 40 per cent of your gross monthly income (this includes housing costs, car payments, personal loans and credit card payments);

2) Debt payments (excluding mortgage or rent) should not exceed 20 per cent of your monthly take-home pay.

* Access your credit report and score six months to a year ahead of seeking out a major loan. Most reports will indicate problem areas and suggest ways to improve.

* There are three major credit bureaus in Canada: Equifax (equifax.com); NCB Inc. (creditbureau.ca) and TransUnion Canada (transunion.ca). It's only necessary to check one bureau since most creditors are registered with each.

* If your score is below average or at the lower end of the spectrum, work hard to improve it. You will get better loan rates and terms.

* Pay bills on time beginning at least six months to a year before a major loan request. Even just a couple of days past due counts as late.

* Keep your debt-to-credit access ratio below 50 per cent; that is the total debt on consumer cards versus the total credit limit.

* Limit the number of so-called "hard inquiries" made about you to credit bureaus (inquiries can only be made with your permission).

* Your own "soft inquiry" into your credit has no impact on your rating and bureaus offer unlimited monitoring (for a flat fee).

* "Hard inquiries" typically count against your credit rating, with two exceptions: auto loans or mortgage inquiries made over a period of weeks are lumped into a single inquiry to allow consumers to shop for the best deal with no impact.

* If your score is good (reports will indicate how you compare with all other Canadians) take it to your lenders and ask for a better rate.

* On your highest interest rate debt, pay the minimum payment plus any additional amount you can afford. Keep paying the minimum on the others. Once the highest-interest debt is paid off, go to your next highest interest rate debt and apply the money you were paying toward the first debt toward the second debt, and so on until your debts are paid.

* Cancelling credit cards can negatively impact your credit score because it boosts your debt-to-credit access ratio and shortens your credit history. Use only the card with the lowest rate and, if necessary, lock the others in a drawer.

Please view this link for more information about “ What determines your credit score”

http://www.cbc.ca/consumers/market/files/money/credit/getinfo.html

Apply now and see the Homeguard Difference!



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