How To Improve Your Credit Score

  
Are you being denied for all types of credit? Has that cell phone bill come back to haunt you? Now is the time to finally face it head on and deal with your credit score.  A very daunting task but a task that must be done.

 First you need to know what is in your credit score is all about:
payment history
amount owed
length of credit history
new credit
types of credit used

What can you do to improve it?

Whatever you do it will take some time. It will take patience as you plow away at those credit cards, getting them down to a much lower balance.  All that money just disappearing into those credit cards.  But, in the end you will see it will be worth while and no one will deny you a car loan  or even a mortgage ever again.

A little secret that not many people do not know is that whatever your limit is on your credit card, you should not owe more than 50% of that limit.  So if your limit is $1000.00, the card should never have more of a balance than $500.00. In fact it is better to have 2 credit cards with no more than 50% owed on them than have 1 credit card maxed out.  Go figure.

 What else can you do?

 Make sure you make your payments on time.  Credit companies record when you have late payments.  This is very important. Set up payment reminders.

 Don't close your unused credit cards.  If you must close a credit card close the one that is the newest. It is all about having and managing long term credit is what the lenders want to see,

Check your credit report.  They do make mistakes. Birthdates seem to be a popular one that they input wrong. If you are being denied credit and you believe your credit rating is great order a free report, go over it, making sure all the information is correct.

Store credit cards are not as good as mastercard,visa or american express.  Also store credit cards usually charge you a higher interest. To get a mortgage the lenders/banks like to see at least 2 credit lines in good standing.

Remember , it is all about managing your credit.  Everyone hits a point in their life when for whatever reason the credit managing slides. Could be a divorce, job loss, moving, marriage, etc.

Do you have questions about your credit score. Contact me and I will help you sort it out.


    

Angela Kroemer, AMP

Mortgage Professional

TMG The Mortgage Group Canada Inc.

TMG Sharie Marie Mortgage Team

Local: 1.250.650.4182

TFP: 1.888.679.0190

Fax: 1.888.679.0192

akroemer@mortgagegroup.com

www.KROEMERmortgages.com

 

Investor Insight: Tax 101 For Basement Units

Want to buy a house with a basement suite?  For most people this is a good way of getting your mortgage paid down.  It can make good money sense to have half or more than half of your mortgage payments, paid by someone living in your basement. You also get a bonus of having tax perks with your basement suite.

If you are thinking about a mortgage with a basement suite, give me a call.  There are some options for this type of mortgage.

Mortgages with a low rate
Mortgages with a fixed rate for a 10 Year Term- still under 4%
Purchase Plus Improvements - borrow extra money to make a suite or update a suite
First Time Home Buyer


Investor Insight: tax 101 for basement units


Check out my website for a special deal for the months of May and June
 www.KROEMERmortgages.com


Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
1.250.650.4182
akroemer@mortgagegroup.com
www.KroemerMortgages.com
Your Mobile Mortgage Professional in The Comox Valley

Facebook page:  https://www.facebook.com/#!/pages/Angela-Kroemer-AMP-Mortgage-Professional-12506504182/174796809243771

365 Things to do in the Comox Valley:  https://www.facebook.com/#!/cvmortgages

No downpayment-- read on

Stop Paying Your Landlord’s Mortgage! Own Your Own Home

The thousands of dollars in rent you’ve paid to your landlord may be a staggering figure— a figure you don’t even want to think about. Until now, buying a house hasn’t seemed possible; it didn’t seem to be in the financial cards for your foreseeable future. Or is it? This situation is common: countless people feel trapped their home rental, pouring thousands of dollars into a place that will never be their own—they think they’re unable to produce a down payment for a home in order to escape the rental dilemma. However, putting the buying process into motion isn’t as impossible as it may seem. No matter how difficult you believe your financial situation to be, there are a few key facts that can help you make the step from the renter’s rut, to your own home-owning paradise!

Initially, of course, the most daunting factor involved in buying a house is the down payment. You know you’ll be able to handle the monthly payments—you’ve done this, and possibly more, for years as a renter. The hurdle, instead, seems to be accumulating the capital needed to put money down. Here’s the good news - this hurdle may be smaller than you think. Take a look at the following points and explore whether any of these scenarios may be possible for you:

1. Find a mortgage broker to assist you with your options for accessing different lenders.

Mortgage brokers have access to more than just one lender, usually they deal with over 40. Some of those lenders will work with clients to get them into a house with various options available for down payment and closing costs.

2. Buy a home even if your credit isn’t top-notch

.

If you have saved more than the minimum for a down payment, or can secure the loan against other equity, many lending institutions will still consider you for a mortgage, despite a poor credit rating. And working with a mortgage broker we only obtain one credit bureau to save you rating from multiple inquiries.

3. Find a seller to assist you in buying and financing the home.

Some sellers may be willing to bear a second mortgage as a seller take-back. The seller then assumes the role of the lending institution, and you pay him/her the monthly payments, rather than paying the price of the home in a lump sum. This is an additional option if you have a poor credit rating.

4. Federal Government First Time Home Buyers Plan (HBP).

Canada Revenue Agency now allows first time home buyers to withdraw up to $25,000 from your RRSP contributions to put towards your home purchase. There are specific guidelines for this program which can be found at cra-arc.gc.ca.

5. Create a cash down payment without going into debt.

You may borrow the down payment from a loan or a line of credit. As long as you can service the repayment amount this is a viable option. You may also be gifted your down payment from a family member as long as it is genuinely a gift and it is in your account 15 days prior to the closing date. You may also have a co-signer on the application to increase the strength of your application for approval.

You now know, there are options. The next step is to educate yourself on what your own personal possibilities might be and how to follow through with this goal. You should be pre-approved for your mortgage before searching for a home. The process is free and doesn’t place you under any obligation. Its simple, you can be pre-approved over the phone! Once a credit application is submitted, you’ll receive a written pre-approval, which will guarantee you to a specific dollar range or mortgage amount. When you have the pre-approved mortgage amount, you’ll know the price range to look in. Make a commitment to break out of the renting rut. Start today! Call Angela to get started on buying your home!!!!!

www.mortgagegrp.com

Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
1.250.650.4182
akroemer@mortgagegroup.com
www.KroemerMortgages.com
Your Mobile Mortgage Professional in The Comox Valley

Reverse mortgages an income lifeline for some seniors

Reverse mortgages an income lifeline for some seniors

A great article. For more information, give me a call.

Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
1.250.650.4182
akroemer@mortgagegroup.com
www.KroemerMortgages.com
Your Mobile Mortgage Professional in The Comox Valley

CMHC--Buying a House

http://www.cmhc.ca/en/co/co_007.cfm

A video on buying a house and what to expect going through the buying process. The video is very general, so if you have any questions give me a call.




Angela Kroemer, AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team

1.250.650.4182
akroemer@mortgagegroup.com
KroemerMortgages.com
Your Mobile Mortgage Professional in The Comox Valley

10 Great Reasons For Using A Mortgage Professional

Thanks for viewing.


Angela Kroemer,AMP
Mortgage Professional
TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team
1.250.650.4182
akroemer@mortgagegroup.com
www.KROEMERmortgages.com
Your Mobile Mortgage Professional in The Comox Valley

Sharie Marie Mortgage Team Wins A Prestigious Award

Last week the Sharie Marie Mortgage Team won Real Estate Company of the Year at the Vancouver Island Business Excellence Awards.

The Sharie Marie Mortgage Team is a team within TMG The Mortgage Group, last year's winner of Brokerage of the Year at the Canadian Mortgage Professional Awards.

"It's an honor for our team to even be nominated, let alone win this huge award," says Angela Kroemer, Comox Valley's Mortgage Professional on the team.

Angela has been a proud member of this team for the past 6 months, and has been so happy to help her clients realize the money saving potential that is within their mortgage.

The Sharie Marie Mortgage Team focuses on educating their clients, and making sure they fully understand all that comes with their mortgage, as so many borrowers tend to overlook the privileges that are available to save them money.

"It's great timing for our team to win this award," says Angela Kroemer, "as with rates as low as they are, almost any home owner can benefit from a refinance right now."

Angela and the rest of the team would like to thank the Business Examiner for choosing them as the recipients of this prestigious award, as well as let the public know that now is a great time for a free mortgage check up.

Let us see if we can save you money!

Call Angela Kroemer to book an appointment.

Congrats to Sharie and our Team !!!!!!!!!














Thank you
Angela Kroemer, AMP
Mortgage Professional
1.250-650-4182
akroemer@mortgagegroup.com
www.ComoxValleyMortgagesToday.com

TMG The Mortgage Group Canada Inc.
TMG Sharie Marie Mortgage Team