A mortgage is essentially a large loan, and like other loans it will affect your credit score. Here are ways to minimize the negative
As a whole, Canadian credit scores have improved since the onset of COVID-19. The average national score was 649 in early 2020, butSign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
On the other hand, a hard inquiry, also known as a “hard hit,” is a credit check made by a lender. A hard inquiry shows on your credit report for anyone who requests a copy. This type of inquiry may lower your credit score. Lenders look at several things when reviewing your mortgage application. They look at your income, down payment, assets, debt load and credit.
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