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Credit Worthiness – Why is Managing Your Personal Credit So Important? (#008)


Do you know how your credit can affect your chances of buying a home? Are you uncertain where to obtain your credit report? If you’re unsure why managing your personal credit is so important, you could risk having negative credit.

Most rules about credit worthiness are basic common sense. Those who follow these rules are more likely to be approved for a mortgage. Is this how you are managing your personal credit in Vancouver?

If you’re interested in knowing why managing your personal credit is so important then invest a few minutes to listen to this episode of the Mortgage Newscast where your host Erik Reynolds interviews Jared Dreyer - accredited mortgage professional, and president of Drayer Group Mortgages, a proud member of the Verico Brokers Network about credit worthiness.

Improving your personal credit is part of managing it. RBC Royal Bank* recommends using credit cards as a tool to help you meet your financial goals. This interview is a chance to learn more details about managing your personal credit in Vancouver.

How Personal Credit Affects Your Mortgage Application

The episode starts out with Jared describing why credit affects qualifying for a home. Anyone can ask a realtor about purchasing a home, but bad credit could affect the difference between paying a mortgage and continuing to pay rent.

Jared also reveals the one action you can take to maintain good credit, and shares what habits you should avoid as they have an adverse effect on credit.

If you plan to submit a mortgage application and have something negative on your credit, then it could jeopardize your chances to purchase a home.

How to Eliminate Challenges on Your Credit Report

Next Jared discusses what you should do in the event that something negative exists on your credit report, from a failed payment to claiming bankruptcy. He shares where to get a free copy of your credit report and answers these questions as well:

  • What do lending companies look at on my credit report?
  • How can I improve the status of my personal credit?
  • What should I do if I currently have no credit at all?
  • How do I fix incorrect details on my personal credit report?

Now ask yourself these questions. Does your credit have completely correct information about you? Are you managing your personal credit in Vancouver to meet your goals? If you answered no to either, then you could be risking your financial integrity.

How to Obtain First-Time Personal Credit

Then Jared discusses how to obtain credit if you currently lack any. He also explains why mortgage lenders place such a high importance on credit ratings.

Managing your personal credit in Vancouver is crucial when purchasing a home, regardless of where it is on the Semiahmoo Peninsula. Lenders can help you purchase your dream home. What’s stopping you from asking for their help?

The episode wraps up with Jared explaining why credit is a vital part of the process for qualifying for a mortgage and how lenders guide you through challenges on your personal credit report.

Are You Ready to Manage Your Credit?

How are you managing your personal credit in Vancouver? Do you want more details about how credit affects purchasing or refinancing real estate? Listen to the entire episode now, and then ask your questions or share your comments in the space below. We’d love to hear your feedback.

After you finish listening to this informative podcast, please contact Dreyer Group Mortgage Brokers at 1.800.687.9020 or apply with us using our 30 Second Application. We look forward to hearing from you!

30 Second Mortgage Application:

Dreyer Group Mortgage Brokers
#308 – 15252 32nd Avenue
Surrey, BC V3S 0R7

Phone #: (604) 536-3802

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.


Twitter: @JaredDreyer