“There’s an App for that!”  How many times have you heard this expression and thought where is the app to help me purchase a new house?  We’ve put together a list of some of our favourite smartphone apps that will assist you as you search for your new home...

Many Lenders use credit bureau scores as a key part of the approval process. Credit scores are a statistical method of predicting a consumer's financial risk over a period of time. Your previous credit behavior is used to determine your credit score which is primarily derived by payment history, outstanding debt, credit account history, recent inquiries and types of credit on your credit bureau record. The two credit reporting agencies in Canada—Equifax and TransUnion—determine your credit score on a scale from 300 to 900 – the higher your score, the better.

The five main factors looked at by lenders are...

SUGGESTIONS PRIOR TO ARRIVING IN CANADA

1. Bring a bank reference letter from a recognized financial institution;
2. Bring a foreign credit bureau.

TIPS TO HELP YOU QUALIFY FOR A MORTGAGE...