Brandon Pace
440 Phillip St. Unit C N2L 5R9 Waterloo, ON, Canada

What will 2021 be like?

We recommend that your mortgage payment should not be more than 25% of your monthly take-home pay. You can probably qualify for a much larger loan than what 25%... of your take-home pay would give you. But it’s really not wise to spend more on a house because then you could be house poor. With a conservative monthly mortgage payment, you’ll have room in your budget to cover additional costs of home-ownership, like repairs and maintenance, while saving for other financial goals, including retirement. Use our mortgage calculator to calculate your monthly mortgage payments: http://ow.ly/NTWj50CNlkl

Thanks TBR for rating us one of the Top Three Best Mortgage Brokers in Waterloo for the second year in a row! At Ardent Mortgages, our mission is to build the wealth of our clients, putting more of your hard-earned money back into your pocket.

Don’t let someone else wreck your credit: It can take years to build your credit and days to wreck it and it's 100% your responsibility. Protect your personal data and make sure it is not easily stolen, get a paper shedder. Check your credit often, and order free credit reports from both Equifax and TransUnion annually.

Who can relate?

You must have established credit: The simple way to identify established credit is outlined by the rule of 2’s: Having 2 credit accounts, with at least $2,500 limits, reporting positively for 2 years. But you need to reestablish your credit? A good place to start is with a secured credit card.

High balances equals low scores A high balances means something different to each person. Which is why the credit reporting agencies look at the balance in contrast to the credit limit. This is known as the Loan-to-Value or your credit utilization. Ex. $600 balance, $1000 limit = 60% credit utilization. Having over 50% utilization has negative effects your credit score.

Accelerated Payments

Paying your bills on time is the first rule and hopefully the one everyone knows. As just one missed payment will negatively effect your score, missing two in a row will compound the effects. Two strategies I use to ensure I pay my bills on time are; One, I pay the minimum payment on the 1st of every month and clear up the balance before the due date. Two, on other accounts I have set up automatic payments. Using these strategies I haven’t missed a payment in the last decade.

The steps to buying a house might seem complicated at firstparticularly if you're a home buyer dipping a toe into real estate for the very first time. Between ...down payments, credit scores, mortgage rates (both fixed-rate and adjustable-rate), property taxes, interest rates, and closing the deal, it's easy to feel overwhelmed. There's so much at stake with a first home! Still, if you familiarize yourself with what it takes to buy your first home beforehand, it can help you navigate the real estate market with ease. So let's get started! 5198042775 [email protected] ardentmortgages.ca FSRA # 13023 See more