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Credit scores are computed using a formula that considers factors such as payment history, overall debt levels, and the number of credit accounts the individual has open. Your credit score plays a huge factor in your mortgage application and how much you could be approved for. ⠀
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Here are a few credit score basics and what various ranges of credit scores mean for your borrowing future⠀
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✒️ 300-599 (Poor)⠀
✒️ 600-649 (Fair)⠀
✒️ 650-719 (Good)⠀
✒️ 720-799 (Very Good)⠀
✒️ 800-900 (Excellent)⠀
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(647) 250 9911⠀
[email protected]

Can I ask you for a small favour?

Here goes: I know everyone is super busy around the holidays so I'll make this quick. I had one small favour to ask, my wife and I donate some clothes to St. John’s Compassion Mission (in ), where I also volunteer every week. It's been hard to see some less fortunate people so underdressed for our harsh winters. 

I hate to ask, but if you happen to have any extra gloves, hats, scarves, jackets or even boots that are going to sit in the back of your closet all winter, would you be willing to donate them? As long as you're not too far I'd personally be happy to pick them up and deliver them. Feel free to DM me or call/text me at (647)250-9911 if you have something to donate. 

I appreciate your support and wish you and your loved ones a safe and happy holiday season.

It is not always easy to qualify for a mortgage on your own merits. Even if you have a great job, a decent income, and a perfect credit, it still may not be enough. You may need some extra help to qualify, in this case you have options --> a co-signer!

What is a co-signer? ⁉️
A co-signer is someone who steps in when another individual (usually someone close to them), can’t qualify for a loan on their own. It’s like a backup plan for the lender.

What’s the process like for a co-signer?⁉️
When a co-signer is introduced, they must complete a full application in order to grasp their financial picture (just like you did!)

What makes a strong co-signer?⁉️
The lender’s focus is mainly around a co-signer’s income and a decent credit history. Typically, the best co-signer offers the strengths that you lack when applying for a mortgage on your own. For example. if your income is preventing you from qualifying, you must find a co-signer with a strong income.

How can one become a co-signer? ⁉️
1️⃣ A co-signer becomes a co-borrower: This involves adding the support of another person’s credit history and income to the application. It’s like having a partner or spouse buy the home alongside the primary applicant. The co-signer is EQUALLY responsible for the debt if the mortgage goes into default.

Co-signing is a big decision. While it may be helpful, it also comes with risks (more on this later - stay tuned).
Have any questions? My DM’s are always open!
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📲 (647) 250-9911
[email protected]