EQUITIS MORTGAGE GROUP SERVICES
Credit
Challenged
Credit Challenged
Your credit score and report are factors that are considered when determining what mortgage options are available to you. These factors help illustrate your past debt experiences and reliability with borrowing money and making payments back accordingly. We understand that many people go through tough periods in their life which may be reflected in their credit report.
Equitis Mortgage Group is happy to assure you that with our abundance of relationships with various banks and lenders, we can find solutions for you despite your credit issues in the past. These solutions are usually short term options, with the goal of improving your credit and placing you into a stronger solution at a better rate afterwards.
Managing & Improving Credit
Pay Your Bills
Make sure to stay on top of all of your bills and to pay them on time. Take advantage of setting up automatic bill payments to ensure you never miss a due date.
Diversification
To improve your credit score more efficiently, open more varied credit lines. Having a line of credit, two credit cards, and a car loan is a perfect example. This will also show lenders that you are able to handle various credit accounts.
Utilization
Keep your debts and balances low in relation to your credit limit; 30% utilization being the rule of thumb. If your credit card limit is $10,000, do you not let your balance go over $3000!
Keep Old Credit Open
You might have a couple credit cards that you do not use anymore. Do not close them! Leaving them on their does no harm and has a positive effect on your utilization factor.
Plan Credit Applications
Applying for credit numerous times throughout a certain time period will result in negative effects on your score. If you are shopping for a car, applying for a car loan several times within 45 days will only affect your score the 1 time. Anything after that will have an additional effect on your score.
Pay Off Delinquency
If you have had bills go to collections, or any other delinquencies related to your credit, ensure that it has been fully dealt with. You want to check your report to see no amount is remaining, and that the record shows paid.
Monitor Credit
Your credit report is an invaluable tool. It is the “resume” banks & lenders look at when deciding whether or not to loan you money. Checking your report often allows you to stay on top of your score and debts.
What PeopleHave To Say
Check out what people are saying about Equitis Mortgage Group
Purchasing our home was made easier with the help of Okhtay! This was our first home purchase and he was incredibly professional and thorough with every aspect of his work. He explained the steps of the process, he was always quick to respond, and I felt confident he was putting 110% into us as clients. He is excellent to work with and I highly recommend him as your mortgage broker for your next real estate purchase!
Being a first time home buyer meant I was completely new to the whole mortgage process. Okhtay guided me through each step seamlessly, explaining my various options along the way, getting me the best rate, and making sure I felt informed and comfortable throughout each decision.
Not only that; anytime I had any questions, he was a phone call away. I could not recommend Okhtay more. In fact, when my sister needed a mortgage, I made sure he was the one to do it!
Thanks for all your help! You made a stressed, first time home buyer feel at ease. The hardest part of the whole process was walking through the front door!I chose to deal with Okhtay when purchasing my first home after meeting with a few different mortgage brokerages. He was very easy to deal with and did a great job leading me through the process. I didn’t know anything about mortgages, but his professionalism and knowledge made me feel very confident with my investment. I am very happy with the service he provided and have since recommended them to all of my friends and extended family.
My experience working with Okhtay was great. I was a first-time home buyer and he was unbelievably helpful. Okhtay made the mortgage process feel so much less-stressful and he took care of so many details and factors that I wasn’t even aware of. His expertise and experience in mortgages helped me learn so much, but also he helped me secure the best options and products for my purchase. I would highly recommend Okhtay as Vancouver’s top mortgage specialist.
Working with Okhtay was a stress free experience. He was great at educating me with the process and making it as seamless as possible. Being able to find me better then standard interest rates was a great bonus to the already amazing service I received.
Latest News & Articles
Check out our selection of mortgage related news and articles.
July 27, 2021
July 29, 2021 Hassan Amhaz – BDM & Mortgage Professional It is the age-old question: should I choose a fixed or variable rate mortgage? Well, there […]
July 27, 2021
July 14, 2021 Dr. Sherry Cooper – Chief Economist at Dominion Lending Centres Bank of Canada ‘On the Vanguard’ of Unwinding Stimulus The Bank of Canada […]
April 28, 2021
Canadian real estate prices have been distorted by a massive overextension of credit. Just how bad has it become? The view is always tricky from inside the bubble, so let’s compare them to our neighbors down south.
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