Kanetix Forum

Is my credit score going to affect my loan application?

Yes. Your credit score is an important part of your application for a loan. The higher your credit score the more eligible you are for better rates and loan options, and vice versa.

If you have had problems with your credit in the past, it doesn't mean you don't have any options. There are mortgage programs out there for you, however, they might cost you more and they vary depending on the severity of your credit problems.

Paul Sidhu, Principal Mortgage Broker at KTX Financial Ltd.

Neither Kanetix® nor the KanetixForum.ca is a mortgage broker or agent. Although this information has been passed along to you from KTX Financial through the Forum, we are not responsible for the opinions expressed by them. Mortgages can be complicated. When reading these answers, keep in mind each person¿s situation is unique. Individual responses may vary depending on your lender, geographic location, and specific circumstances. If you have a similar situation, always speak with your mortgage provider, or a licensed mortgage representative, for terms and conditions that may apply to you.

This information is a little worrying for me, but good to know.

Thank you Paul.