Mortgage & Wealth Strategies

Say Hello To The Easiest Way To Mortgage

Mortgage and Wealth strategies

Beyond The Rate

As an expert mortgage broker, I know building wealth through homeownership and achieving financial freedom is about more than just chasing the lowest rate—it’s about strategy.

I'm taking you behind the scenes and giving you the insider tools and powerful strategies to get ahead. If you’re a first-time homebuyer, you’ll find everything you need to secure your first property and start building wealth from day one.

If you’re an existing homeowner, this is where you take control. Maximize the wealth-building potential of your current home with proven strategies for refinancing, leveraging equity, and optimizing your mortgage for bigger opportunities.

Your mortgage is more than a loan—it’s a gateway to long-term financial success.

My goal is simple: to equip you with the knowledge and tools to make smart, strategic decisions that will transform your financial future.

Let’s get started.

Why Your Credit Score Really Matters

July 23, 2023 | Posted by: Matt Broom-Hall

Why Your Credit Score Really Matters

Think of your credit score as your financial reputation. It’s not about being perfect — it’s about showing lenders how you handle borrowed money. Whether you’re buying your first home in Sherwood Park, refinancing in Calgary, or renewing in Fort McMurray, your credit score has a huge influence on the mortgage options available to you.

So, what’s a credit score anyway?

In Canada, your score is a three-digit number between 300 and 900. Higher = lower risk to lenders.

Two bureaus build your score: Equifax and TransUnion. They gather your account history from banks, credit cards, auto lenders, etc., then run it through a scoring model.

How your score is built (and how to keep it healthy)

  • Payment history (35%) — On-time beats everything. Late payments, collections, and judgments hurt.
  • Amounts owed (30%) — Your credit utilization: how much of your limit you’re using. Aim to keep balances under 30% (lower is better).
  • Length of history (15%) — Older accounts help. Think twice before closing your oldest card.
  • New credit (10%) — Each application = a hard check. One mortgage pre-approval pull is fine; a flurry looks risky.
  • Types of credit (10%) — A balanced mix (credit card + car loan/LOC) looks stronger than a stack of retail cards.

Why mortgage lenders care

  • Interest rate — Stronger scores can unlock lower rates and save thousands over the term.
  • Approval odds — Your score is a quick read on repayment risk.
  • Default insurance — Under 20% down requires insurance; better credit can mean better pricing.
  • Program access — Some products have minimum score cutoffs (often around 680+).

About those credit checks

  • A single mortgage pre-approval check typically has minimal impact on a healthy score.
  • The real drag is multiple applications in a short window.
  • Pro tip: I can check your credit once and compare lenders — no need for you to apply all over town.

Simple ways to boost your score

  1. Pull your reports — Get Equifax and TransUnion, fix errors, and monitor.
  2. Never miss a due date — Automate minimums if you must; on-time payments drive the score.
  3. Trim balances — Keep utilization under 30% (ideally 10–20%).
  4. Cool it on new apps — Only apply when necessary.
  5. Keep old accounts — Age matters; leave your oldest card open.
  6. Healthy mix — A card + installment/LOC reads better than five store cards.
  7. Rebuilding? — A secured card can help you restart responsibly.
  8. Tidy up collections — Paying them won’t erase history, but it helps moving forward.

Bringing it all together

Your credit doesn’t need to be perfect — just strong enough to open better mortgage doors. Small, steady steps (pay on time, keep balances low) compound fast. If you’re planning a purchase, renewal, or refinance, let’s talk through your credit and map the smartest strategy.

Want more tips on managing your credit?

If you’d like to dive deeper, check out these related posts:

Let’s chat: Book a quick discovery call here — Schedule with Matt. If you prefer email, reach me at matt@hellomortgage.ca.

Say Hello to the easiest way to mortgage.

Matt Broom-Hall
Mortgage & Wealth Coach — Hello Mortgage
Licensed in Alberta with BRX Mortgage
hellomortgage.ca  |  matt@hellomortgage.ca

General information only — not legal, tax, or credit advice. Products, insurer/lender guidelines, and pricing are subject to change without notice. OAC. E&OE.

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