In Part 2 of "Repair Your Credit Before Buying Your Halifax Home," we discussed how a Beacon score is determined and the most common credit mistakes that lower your score. But don't despair if your score is less than perfect, there are products available to improve that credit score so that you can get the best possible mortgage rate for your Halifax home.  

Equitable Trust is designed to help a broad range of borrowers with varying credit scores and situations. As long as they see proof that you are working to improve your credit score, they can offer favorable rates and loan-to-value just as they would somebody with a higher Beacon score. Repair Your Credit Score

Mortgage payments do not go on credit reports. So although you may be paying your current lender on time, you still will want to increase your credit score. One such way to achieve this is with Home Trust. They offer a one-charge mortgage product in where there is a regular fixed payment to own a home with an added feature of an Equityline Visa card. You can use the equity in your current home to secure credit on the Visa card. Regular use of the Visa card and timely payments on that card will improve your Beacon score. 

In addition, Home Trust launched a Credit Assist product in October 2010. It works as a one-year solution by consolidating debts into one to help consumers repair bruised credit. There are certain conditions to qualify which include a 44% total debt service ratio, confirmed ongoing income and a minimum Beacon score of 520, although lower scores can be evaluated on a case-by-case basis.

Lastly, we will discuss tips for improving your credit by establishing good credit habits. Once you decide that you are where you want to be, Roy Thomas is there to help you find your perfect Halifax home.

 

What's Your Halifax Home Worth? Knowing what your Halifax home is worth is important information to have if you are thinking of selling your home. You can Receive a Free OnLine Home Evaluation by visiting www.HalifaxHomeEvaluation.com

Have all Newly Listed Halifax Homes sent directly to your email BEFORE they appear on Realtor.ca  Get access to these new listings before other buyers. To start receiving these new listing go to www.HalifaxHotNewHomes.com         

Roy Thomas is a REALTOR® with Exit Realty Metro in Halifax, Nova Scotia. Licensed since 1991, Roy has developed his Guaranteed Home Selling System that sells his clients homes Fast and for Top Dollar. Visit Roy online at www.RoyThomas.ca or www.RoyThomas.TV.

 

Find Roy on FaceBook www.FaceBook.com/RoyThomasHalifaxRealEstate

 

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2 Comments on Repair Your Credit Before Buying Your Halifax Home - Part 3

MAR
21
2011
868,446 Points 5 Featured Posts

Roy,

This is a very good series and should be quite helpful to consumers.

Brian
4:01pm • #1
MAR
27
2011

We hope so. Thanks!
7:18pm • #2


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Roy Thomas

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