Many homeowners have built equity in their home as a result of appreciation over recent years. As a result, qualifying for a second mortgage has become a little easier over time. A home owner’s personal income or credit history are always important factors but in this case, the available home equity is a major consideration.

As businesses start to pivot and adjust under COVID-19 conditions, Federal and Provincial support is being announced almost on a daily level.  If not a new announcement, some sort of update or adjustment comes forth to keep business afloat as much as possible. 

Your credit score is vital when getting approved for a mortgage. It’s no secret that the better your credit score is, the chance for receiving better rate offers increases accordingly. Here are some money management tips to improve your credit score and to improve your chance for a mortgage approval when you are ready to invest in your next home or investment property.