Chris Brennen, Sales Representative | TEL. (905) 936-3500 | CELL. (416) 458-7768

 Financial Road Map

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 Getting Started  Shop for a Loan  Know the Numbers  Get Pre Approved  Aplication and Processing  Funding

Start a Green File
A Green File should contain all of your important financial documents. Regardless of the loan type, lenders will need information about you. Make copies of financial statements; bank accounts, investments, credit cards, auto loans, recent pay stubs and two years’ tax returns.

Check Your Credit Rating
Credit scores range between 400 and 800. 620 is considered “good”. 680 is considered “premium” and may possibly help get you a lower interest rate.

Below you will find the contact information for the 3 major credit reporting agencies to help you determine your credit rating. Ask your lender how to improve your credit score if you need to. Going forward, treat your credit like gold.

Equifax

http://www.equifax.com

 (800) 465-7166

   

 

Trans Union

http://www.transunion.ca

 (800)663-9980 us  (800) 916-8800

Savings & Debt
If you are buying real estate, try to accumulate funds towards your down payment, closing costs (appraisal, miscellaneous fees, escrow, title insurance, etc.) and expenses such as inspections. Furthermore, try to pay down existing revolving and high interest rate debt like credit cards.

Toe The Line
Now is not a good time to change careers, move your money around, or buy big ticket items. Lenders like stability. So if you are considering any major changes, it pays to meet with a lender and ask them how to proceed before you make any changes! If you are tempted to buy a big ticket item, consider the following:

RE/MAX Tottenham Office RE/MAX Tottenham Office