first-time home buyersWhen applying for future loans, whether it’s a credit card, personal loan or a mortgage, credit is basically your bread and butter. For first-time home buyers, a good credit history can get you finance with no strings attached, at a great rate of interest.

By following some simple rules and understanding how important credit is, first-time home buyers can turn their dreams into reality.

How to Maintain a Good Credit Score – The Dos:

  • Pay your bills on time.
  • If you can’t pay your bills in full by the due date, at least pay the minimum amount required.
  • If you are having trouble making payments, contact your creditors.
  • Keep up to date with any changes in your card’s terms and conditions and any fee increases.
  • At least once a year, get a copy of your credit report.
  • Deal with companies you know and trust.

The Don’ts:

  • To avoid any misunderstandings between you and the credit provider, don’t accept or use any form of credit until you are comfortable with and understand the terms and conditions.
  • If there are any unauthorized transactions on your account, don’t wait to report them. If your bill reflects items you didn’t buy, contact the credit provider immediately.
  • Never exceed the limit on your credit card.

If you’re interested in buying real estate on Ontario’s beautiful Southern Georgian Bay Waterfront area, contact us, Nancy-Jo and Iain Gurr. We specialize in cottage real estate, luxury homes, retirement living, and helping first-time home buyers.