Tips on Credit and How they affect your Home Purchase:

 - Check your credit score under your bank site or equifax.ca 
 - Review all entries of your credit report and work with a mortgage broker to show you how to increase your score and work on any negative credit 
 - Keep balances of any unsecured credit cards use at no more than two/thirds of available limit i.e. $6,000 maximum of $9000 card limit used. 
 - Pay minimum credit card payments 2 - 3 days prior to due date to ensure the payment records on the bureau before the due date if you don’t this WILL affect your credit score negatively. 
 - Forgo the New Car syndrome even if the sales person says “it is ok its just a lease payment”… all payments, loans or leases are used to calculate the clients ability to repay and approve for a mortgage.Your amount of approved mortgage will be affected if large loans are outstanding. 
 - Talk to your Mortgage Broker and discuss if a refinance on your existing home makes sense to get you ready to give a large deposit with any offer on your next move, updates to your home before you list and to combine outstanding high interest credit debt under one easy and usually lower interest payment.