Yes, the amount of inquiries to your credit bureau report can affect your credit score. One of the advantages of using The Mortgage Centre – BC Direct Mortgages is that we check your credit bureau report only once, and we are able to take your application to more than one lender without doing multiple credit checks.
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I’ve heard that the more times I get my credit checked, the lower my credit score will be. Is this true?
What is an earnest deposit?
This is a sum of money given to bind the sale of real estate, or a sum of money given to ensure payment or an advance of funds in the processing of a loan.
Can I make my down payment with gifted money?
In most cases, the answer is yes. However, the funding must be from a family member. There are certain circumstances in which you cannot use gifted funds. For example, your mortgage product may have a limit on the percentage of the down payment that can be gifted. Rampone-Marsh Mortgages can find out if your gifted funds can be applied to your down payment.