As we all have learned Credit Scores are huge in determining if you can get a loan or mortgage.  Lenders have used this system for many years and the #1 agency used is Equifax.  There are a few others out there you can get access to to give you can idea of where you are at when the time comes to get a mortgage, financial loan, secured lines of credit and so on.  However the score you get when you pull your own bureau many times is much different that what we as mortgage brokers and the lenders get.

So, why is that?  The inquiry you are doing is called a “soft hit” is actually just that.  It is just an inquiry into your credit to check for fraud, errors in information placed on the bureau that can be wrong credit, wrong addresses, wrong names, etc.

The credit check we as Mortgage Brokers and Lenders pull is a beacon score that is related to a whole realm of things that are in much more detail that take in many different aspects of the information that is on the credit.  It is a good idea to do these on your own so you can check for errors however to get a true picture you need to see a mortgage broker so we can do that for you before you purchase your dream home.  Call us, we have the information for you and are right here in Red Deer and webiste is www.reddeermortgagebroker.ca