Good credit versus bad credit
When preparing to buy a home, a strong credit rating is an important factor in obtaining financing. Lenders will look at a borrower’s credit record and credit score to evaluate their willingness and ability to pay their debts.
A good credit rating is achieved by paying all bills on time. It’s important that consumers understand this includes not only their credit card statements, but also all other regular expenses such as taxes, hydro, gas, cable, telephone and so on. The goal should be to demonstrate a track record of paying all bills on-time and in full.