A good credit score is one of the most critical factors lenders consider when you apply for a mortgage. It serves as a reflection of your creditworthiness and can significantly impact the terms and interest rates you receive. Generally, a higher credit score can lead to lower interest rates, which translates to lower monthly payments and substantial savings over the life of your loan. If you’re planning to buy a home, it’s essential to check your credit report well in advance and take steps to improve your score if necessary. Paying down debt, making payments on time, and keeping your credit utilization low can boost your score. By prioritizing your credit health, you’ll be better positioned to secure favorable mortgage terms, making your dream of homeownership more attainable
RBC Forecasts Increased Sales but Lower Prices for Canadian Real Estate Markets
