Credit Repair Tips

By Eva Neufeld12/04/2018

Buying a home for the first time is a major milestone as an adult but it comes with a lot of responsibility. Making sure you are financially prepared to take on an Edmonton mortgage is half the battle. Purchasing a home may be the biggest expense you ever have so it is important to be in good financial standing or else you risk the chance of your home loan application getting denied. Being in good financial standing means you have a decent income and a good credit score.

So, to help you get started, your local Edmonton mortgage broker with Mortgage Tailors have listed credit repair tips to help get you ready for your first mortgage.

Tip #1: Pay Off High-Interest Debt

If you currently have low credit and are looking for ways to improve your score then paying off high-interest debt can help. Before you apply for your mortgage make sure you are not in too much debt or your loan may not get approved. Paying off any high-interest loans can help decrease your debt balance and increase your credit score. Try and keep your credit card balances below 50% of your credit card limit.

Tip #2: Avoid Opening More Lines of Credit

When you begin the home buying process it is easy to get sucked into the consumer world where you get the urge to buy everything new. But just because you are buying a new house, it does not mean you need to buy a new car or a new boat. Making those purchases means you would be opening more lines of credit which can negatively affect your score. Therefore, if you really wish to buy a new car or a new boat, it would be in your best interest to do so after your Edmonton home loan has been approved and signed for.

Tip #3: Make Scheduled Monthly Payments

Missing a mortgage payment can drastically affect your credit score. So, if you are looking for ways to repair your current score, make sure you do not miss any monthly payments. Set reminders on your phone or make a note on your calendar to remind you of when a payment is due.

For more useful tips on how to repair your credit score, or if you would like to get started on your Edmonton mortgage application, please contact the Mortgage Tailors at 780-244-0505.

Categories: edmonton mortgage, Edmonton Mortgage Broker

Tags: edmonton mortgage, edmonton mortgage brokers, edmonton mortgage rates, edmonton refinance, Mortgage Broker Edmonton

Maxim ducap

20:50 14 Feb 23

Eva is a wealth of knowledge, whether you are looking for a home, trying to build, buying an investment property whatever it is she has the right know how and advice to guide you through!! As a new investor she took the time to explain to me some of the different avenues and ways to structure financing so that I can keep growing my portfolio. Just give her a call you'll see!

Jessica Heath

04:01 23 Jan 23

Eva was fantastic to work with to help us figure out our first mortgage. She was able to explain the ins and outs of getting a mortgage and was very quick to support all of the information we needed to get a rate. She even helped us decide on a home when we were torn between two properties based on mortgage information. I was so glad I found her through reviews and will definitely work with her again when our mortgage comes up for renewal.

Calvin Hexter

22:49 09 Dec 22

I have worked with many mortgage brokers in the past, and I have to say that Eva brings her years of expertise, passion and care to every touchpoint. Highly recommend!

Thomas Wagner

18:08 24 Oct 22

Eva was great to work with. Very responsive. She answered emails even after normal business hours, which was fantastic.

Clayton Fuller

03:03 13 Sep 22

Was having difficulty getting the refinancing that I required to complete my divorce settlement. I was provided Eva’s contact information from a friend and she was able to quickly find me a lender who could provide what I was looking for and at a very competitive rate! Eva is a pleasure to work with too!

Tim Shigemitsu

18:22 01 Sep 22

Eva was helpful in purchasing me first home. She walked me step-by-step in the mortgage details and explained to me the parts I had no knowledge in buying my home. I highly recommend her for your mortgage needs!Update: When my wife and I need to find a new house so our children can walk to school, Eva helped us with the mortgage and finances. We are truely grateful for her expertise during the housing heat rush of Spring '22.

Devon Wheaton

21:52 31 Aug 22

Eva is awesome, very sweet and helpful. She's work so hard for us to get us into a home despite us not making it easy on her. She stayed very professional and worked every possible avenue to help us out.Highly recommend!

Matthew Ryan

18:35 04 Aug 22

I have been working with Eva over the past 7 years and she has helped me now with 3 home purchases. I've found her to be extremely professional and very inviting on how she communicates. With her new online document tracking tool, it made the communication very simple and direct. Awesome person to work with!!!

Chad Bennett

15:51 01 Jun 22

Professionalism at its finest Eva is kind prompt and incredibly knowledgeable.

Christian E

18:15 29 May 22

Working with Eva at Mortgage Tailors was great. Eva was there to support me throughout the process and was very helpful and knowledgeable with any questions that I had. Eva made my whole mortgage process very easy and stress free.

Rachael George

14:52 09 May 22

Eva is a wonderful broker to deal with, she has clear and concise communication, she was available to talk through our concerns on a non traditional work schedule, she truly went above and beyond.

kyle goudie

00:03 25 Apr 22

Kaila Ross was the best, not only did she help me out as a first time home buyer she explained everything in easy ways that anyone could understand. She was easy to get ahold of, understandable about personel issues and limitations and very friendly to talk to. Will be calling her again and sharing her contact info with my friends

Lisa Rochon

15:53 21 Apr 22

Eva is extremely knowledgeable and is able to relay the knowledge back in such a way that I felt supported through the entire process of my mortgage. Make sure to call Eva first before making decisions on your mortgage.

Matt LeBlanc

16:12 19 Apr 22

Eva was absolutely amazing and worked so hard to find the best solution for our family. She responded immediately to all our emails , requests and questions. If we didn't have Eva, we would never be able to accomplish what we have. Thanks so much Eva for all you do and making our dreams come true!

Mon Tor

23:07 02 Apr 22

Eva really helped us from start to finish. She was also able to blend and extend our current mortgage and saved us a bunch on the rising interest rates. She was easy to talk to and always responsive. - Raymond and Rhea

Maria Rubiano

03:15 16 Nov 21

Eva Neufeld is an exceptional mortgage broker. She kept us advised every step of the mortgage process, explaining the reason for every step of the way. Her manner was always friendly, and she was always available to answer every question I had. Previously, I had gone make some mistakes and she gave me quality advice on how to rebuild my credit in the future. I do not believe that I will ever do this again as long as Eva is around to assist in the process. I will strongly recommend Eva to my friends, and I will be certain to use her the next time I require new financing. She is remarkable and a five-star broker and any organization should be proud to have her working for them. Thank you Eva for a dream come true: my own house. It has been great working with you and I appreciate your level of service and professionalism. Your patience, honesty, and stellar service was greatly appreciated.

G M

19:41 03 Jun 19

Through every step of the process, I felt like Eva was on my side. She walked me through everything (sometimes twice). If your mortgage broker doesn't feel like your ally, shouldn't you find one who does?Successfully guided me through two very competitive mortgages, and possibly a third to come. I look forward to working with Eva again very soon.

Javed Iqbal

17:21 03 Jun 19

Awesome personality on top of very professional and committed. Really like the way she listens carefully, try to understand the needs and go over the requirements and response back in a very clear and concise manner. Won't be hesitant to recommend her to all friends.

Nazim Rahman

20:52 29 May 19

Eva is the perfect combination of professional and personable. She helped me through all the paperwork and explain everything clearly; the news and the bad news. She is very efficient and responds to queries quickly. Highly recommended.

Brock Ireland

21:22 15 May 19

I was very impressed how well Eva got things done and in a very professional manner. I had a few issues but she took care of them and made me comfortable knowing everything will work out and It sure did ! I will always go to Eva, you should too. She also speaks at seminars and has extensive knowledge, very informative !

Elio Bolanac

19:31 14 May 19

I have referred clients and friends to Eva. The feedback as to Eva's knowledge and professionalism has been excellent. The fact she is a real estate investor herself gives her insight into real estate financing. I have no hesitation referring clients and friends to Eva and look forward to doing so in the future.

tori muters

21:22 08 Jun 18

Absolutely Fabulous! Eva is a wealth of Knowledge. I would HIGHLY recommend her. Her response was quick and she was able to answer all of my questions. Thank you Eva!

Fleur E

18:56 16 May 18

We are first time buyers in Canada and Eva helped us learn the ropes! She guided us through the process and thanks to her we have secured a mortgage and we look forward to moving into our new home.Eva's service is personable, she makes herself readily available and is incredibly flexible. The process was pain free - a wonderful first time experience in a new country!Thank you Eva!

Christine L

03:30 04 May 18

Eva is an extremely positive person. You can definitely tell she loves her work. She was very helpful and informative. She is knowledgeable and can get you moving forward in the right direction. Way more positive and helpful then the bank.

Patrick Rurka

03:06 03 May 18

Eva has been our mortgage broker for 14 years. We have purchased every home with her. The rates have consistently better than we can get on our own. Her service level is exceptional and she is so accommodating. Thank you Eva! Always a pleasure to work with you.

Jessica Baker

16:05 11 Apr 18

If you’re looking for a mortgage broker, you should give Eva a call. When it was time to renew my mortgage I decided it would be best to enlist the help of an expert. Seeing all the positive reviews the Mortgage Tailors had received here on Google I phoned to make an appointment, and it was absolutely the right decision. Eva made time for me right away and we discussed the options available to me at length. At the end of our conversation I felt better informed, confident with my knowledge and decision, and was happy with my choice of mortgage. 10/10, I’ll be referring all my friends and family.