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5 ways to build credit and buy your first place

Author: 
Condos.ca Staff
Publication date:
October 21, 2021
Article Summary: 

This article provides five ways to build credit and qualify for a mortgage to buy your first home. The "five Cs" of creditworthiness are discussed, including character, capacity, capital, collateral, and conditions. Tips are provided to improve credit ratings, such as paying bills on time, maintaining low credit card balances, and saving for a larger down payment. The article also highlights the importance of working with a mortgage broker to determine your credit score and find ways to improve it.

Keywords: 

first-time homebuyers, creditworthiness, mortgage, credit rating, down payment, debt service ratio, collateral, interest rate, mortgage broker.

Source Citation: 
Condos.ca Staff
5 ways to build credit and buy your first place
October 21, 2021
https://condos.ca/blog/posts/5-ways-to-build-credit-and-buy-your-first-place
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