Building Healthy Credit History to Purchase A Home

According to a 2019 study by Angus Reid, Canadians owe $1.78 to creditors for every $1.00 of disposable income. With stats like this, it's more important than ever to make sure your credit health is on track, especially for first-time buyers planning to buy a home. Here are a few tips to get on the right track 


  • No credit history can be as detrimental as bad credit, so be sure to establish credit.
  • Don't max out your credit cards, make sure to leave room on them.
  • Avoid having too many credit cards, even if you don't use them.
  • Pay off your credit card balance every month.
  • Save up as much as possible for your down payment.

 

 

Source : https://www.livabl.com/2019/02/first-time-homebuyers-guide-building-healthy-credit-history-homeownership.html