Trevor Hickey

Equity is the difference between what you owe for your property versus what your property is worth. In Calgary, Ab mortgage money is usually cheaper than credit cards. Seeing as credit cards are typically 18% you can save a large amount of money by...

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Trevor Hickey, B.A.
Mortgage Associate
Concord Mortgage Group Ltd.
#107 - 1905 Centre Street NW
Calgary, Alberta
T2E 2S7
Bus: (403) 290-1990
Cell: (403) 860-8738
Fax: 1-888-587-1426
Email: http://www.trevorhickey.com/contact_us.html
Website: www.trevorhickey.com

Can a mortgage help you realize your dreams?  A Calgary mortgage can give you the funds required to reach your dreams, whether it is to purchase a vehicle (or toy), start a business or invest.  Mortgage funds can even be used to pay for a surgery; so a mortgage can actually save your life!

If you need a mortgage please contact Trevor Hickey - thanks!

Trevor Hickey

Mortgage Associate

Concord Mortgage Group Ltd.

#107 - 1905 Centre Street NW

Calgary, Alberta

T2E 2S7

Bus: (403) 290-1990

Cell: (403) 860-8738

Fax: 1-888-587-1426

Email: http://www.trevorhickey.com/contact_us.html

Website: www.trevorhickey.com

Related Articles:

1)      Have equity - want to make money?

2)      Is There Equity In Your Home?

When searching for a Calgary mortgage you need to be aware of the aspects of credit that lenders are looking for. They are:

1) length of time account has been active

The longer your account has been active the better your chances of getting a Calgary Mortgage. A credit card that has only been in use for 1 month is not nearly as good as one that has been open for 10 years.

2) repayment history

Make sure you pay on time. Credit is used as an indicator of your repayment habits - if you miss payments on your credit cards, you are assumed to miss payments on your Calgary mortgage.

3) high credit limit

A $200 credit limit is too low to really indicate your repayment habits. If you were to go on a spending spree you could likely pay down the $200 over a few months. A credit limit of $1500 (or more) is a good amount because if you do have poor spending/repayment habits then it will be clear seeing as most people cannot simply pay off $1500 within a few months.

4) balance to credit limit ratio

Try and keep your spending to 75% of your allowable limit (or less). If you are allowed to spend $1000 then try to keep your balances to $750 (or less). If you carry balances of more than 75% it appears as though you are living paycheck-to-paycheck and most lenders do not want to lend to someone who can barely afford their current obligation.

5) be consistent

Even if you show good credit practices; however, rapidly change them (even if you do not violate any of the above rules) you could still be penalized and hurt your chances of getting a Calgary mortgage. For example, if you typically do not have any balances from month to month on your credit cards and then you begin to (even if they are small amounts) the credit companies can see that you are now a little short on cash and they will therefore try and drop your score to better reflect your less desirable situation.

Trevor Hickey is a Mortgage Associate with Concord Mortgage Group Ltd. He specializes in Private mortgages to help those with rough credit. Trevor is also a licensed bicycle mechanic in Calgary, Alberta.