Your credit score reflects your financial health. It is represented by a number determined by a mathematical formula. Your credit score helps determine if you are a risk to lenders. And good credit is very important to qualify for a loan. In addition to your ability to pay, a mortgage lender will look at your willingness to pay. When you apply for a loan, the lender will consider your credit history before making a decision.

Your credit score is determined by these factors*:

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Angela Calla, Mortgage Expert, AMP of the Year in 2009 has been helping British Columbian families save money with the best mortgage strategy for over a decade from her Port Coquitlam office location. She is a regular contributor to national and regional media outlets and long-time host of The Mortgage Show on CKNW Saturdays at 7pm, and sits on many advisory boards for mortgage lenders & insures.