A breakdown of how credit scores are made, pros and cons of collateral mortgages, and discounted vs posted rate lenders.

2. The Mysterious Credit
Bureau
10
10
15
30
35
10% Type of Credit
10% New Credit
15% Length of Time
Credit Established
30% Credit Owing
35% Pymnt History

3. Improve Credit By…
1. Always pay your bills on time.
2. Try to pay your bills in full by the due date. ALWAYS
pay the min payment.
3. Try to pay your debts as quickly as possible.
4. Don't go over the credit limit on your credit card.
5. Reduce the number of credit applications you make.
6. Make sure you have and maintain a credit history.

4. Collateral Charges
• PRO: Collateral charge is readvanceable
• CON: A collateral charge is non-
transferable.

5. Discounted
POSTED
VS

6. Discounted
POSTED
VS
The more loyal to your bank you are –
the less of a deal you are likely to be
offered.
Borrowers up for mortgage renewals are
even less likely to shop around (85%
renew with their existing lenders)
Posted rates become even more significant in
calculating your refinance penalty.

7. HERE’S WHY!
Lenders who only use discounted rates

8. HERE’S WHY!
Lenders who have both discounted & POSTED rates

9. THE RESULT

10. THE DIFFERENCE