CHARLENE WARD
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Defaults on your student loan. What does this mean for your credit score?

4/9/2017

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It's not uncommon for students to graduate with an average of $20,000 in debt from student loans. How this loan is repaid can affect your credit score tremendously. Here is what you need to know.

1. In Ontario, you get a 6 month grace period before interest begins to incure. However, as of Nov 1 2016, students are not required to begin paying their loan until they are earning at least $25,000 annually - interest does still incur after 6 months.

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Rebuilding Post Bankruptcy or Proposal

4/9/2017

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After a bankruptcy, the last thing you may be thinking about is getting another credit card or loan. What you need to know, though, is having a credit card is extremely important to rebuilding your credit, especially if you plan to apply for a mortgage.

Re-establishing your credit let's the lender know that you can handle your financial responsibilities. No credit means you will have to opt in at a higher rate and a condition for a higher down payment.

Here are 4 steps to rebuilding after a bankruptcy or proposal

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Charlene Ward
Mortgage Agent 
FSCO Lic# M16000694
Bespoke Mortgage Group
​FSCO Lic# 12729
3352 Dundas St W, Toronto, ON M6P 2A4

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  • Home
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    • First Time Home Buyers
    • Repeat Home Buyers
    • Investors
    • Refinance
    • Renewal
  • Contact Us