Credit Scores

It's important to know your credit score if you are thinking of getting into the Winnipeg housing market. According to Kevin Stefanson from Castle Mortgage - a credit score is a measure of your borrowing history - how much you've borrowed, how quickly you paid it off and how often you have missed payments. The scores range from 350-900. A minimum credit score to get a 5% down mortgage is 600 - an average credit score would be 700+.  If you don't know what your score is give your bank or mortgage broker a call before you start house hunting. 

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