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VOSTNER-BELL
Realty Team
Jason Bell, Tess Vostner-Bell & Associates (403) 278-8899 (24 hours)
Welcome to www.RealtyCalgary.com. The VOSTNER-BELL Real Estate Group is one of Calgary's most recommended realty teams.
Top producers and award winners year after year, Jason Bell, Tess Vostner-Bell & their team are well known and their reputations speak for themselves. Trust Tess, Jason and their associates to provide you with an unmatched level of service, solid advice, creative ideas and the personal attention you deserve.
Tess Vostner-Bell, Jason Bell & Associates
MaxWell Canyon Creek
3205-380 Canyon Meadows Drive SE Calgary, AB T2J 7C3
Tess's cell: (403) 689-1199
Jason's cell: (403) 830-5800
Office: (403) 278-8899
Fax: (403) 278-8953
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The Vostner-Bell Real Estate Group with MaxWell Realty, Canyon Creek Calgary, Alberta. Jason Bell and Tess Vostner-Bell. Get full access to all Calgary Real Estate Listings with Calgary Realtors Tess Vostner-Bell and Jason Bell and their realty team. Receive automated updates on Calgary MLS listings and Calgary Homes for Sale by e-mail. Sign-up as a guest member or client on our Calgary and area MLS site and have complete access to the same MLS that REALTORS use! The Vostner-Bell Real Estate Team is excited to launch our new Calgary MLS site with Google Earth and Google Maps!
If you are looking for Calgary houses or condos, assumables (homes with assumable mortgages), foreclosures, investment properties, rural properties, acreages, estate and luxury homes,Calgary relocation services, or simply are looking for qualified advice and helpful hints regarding the current Calgary Real Estate market, we eoncourage you to give us a call or e-mail, 24 hours a day, seven days a week!
CALGARY REAL ESTATE TIDBITS
Understanding Your Credit Score Is Essential
When you are planning to purchase or refinance a home, your personal credit history factors heavily on the lender’s decision to approve your mortgage, and at what interest rate. While it is true that they also take into account the applicant’s strength of income and overall debt load, ability to manage the current debt speaks volumes to mortgage lenders and could influence the lender’s decision, so it is beneficial to understand the process before getting started.
In Canada there are two main companies, Equifax Canada and Trans Union, which collect credit information and generate a report, known as a credit bureau. Equifax is predominantly used by mortgage lenders so we will focus on their scoring criteria.
Equifax analyzes each bureau and awards the individual an overall score, known as a beacon score or FICO score. In Canada the score can range from 300 up to 900, with the highest score being the goal.
The beacon score itself is derived from five distinct characteristics of your credit history, each playing an important part. Clearly understanding these components will show you how to make your credit score work in your favour and correct any old patterns that could be dragging your rating down.
The most important component to consider is that 35% of your beacon score is determined by your previous credit patterns. This is the largest consideration when generating your beacon score and therefore should be treated as sacred. It is extremely important to make at least your minimum payment on any loan or credit card by the required due date. The size of the minimum payment does not matter, only the fact that you are on time. There is no discretion here so don’t lose points on this one!
The second most important component used to determine your beacon score is how much debt you currently have. Equifax allocates 30% of your score here. Carrying a balance of more than 75% of your total limit is a big no-no. Even more damaging to your score is exceeding your credit limit, so be wary of getting into that habit.
If your credit balances are over the 75% marker and you are unable to pay them down quickly, consider requesting an increase in your credit limit. This will improve your beacon score and look better to potential mortgage lenders, providing you don’t rack it back up again.
The third determination, weighing in at 15%, is the length of time your accounts have been active. Opening and closing credit accounts every couple of months does not score high with Equifax. They are looking to see a long-term trend of strong borrowing history here, not constant re-arranging.
The final two components, both worth 10% of your beacon score, are determined by your eagerness to apply for credit and the types of credit you have. Continually allowing companies to check your credit does not earn you any points so be cautious of that habit.
The more inquiries you have, the lower your score will be dragged down. Mortgage lenders will be watchful as well, because to a lender this could be considered a lack of control with your credit and you may end up over your head in debt… not a ride they are willing to go on with you.
The last consideration refers to the type of trade lines or accounts you have. Credit cards and lines of credit are called revolving, meaning they can be used, paid down, and used again. There is no specific end to this type of debt. An alternative to this is installment debt, which is set up with the end in mind. Car loans and student loans are an example of installment debt. Having a mix of both revolving and installment debt will earn you points in this category.
Equifax also believes having more than five active trade lines is excessive. If you find yourself with ten credit cards in your wallet, consider consolidating the balance onto one or two cards and cancelling the others.
As mortgage brokers only have to check your credit bureau once to find a good fit with over forty lenders, this is just one more reason why an experienced broker is an invaluable ally when you’re looking to arrange a mortgage and keep your credit score high.
Written by Sharon Essington. Article courtesy of the Calgary Real Estate Board. Sharon Essington is an Accredited Mortgage Professional with Verico Canada Mortgage Direct. Sharon specializes in providing a creative approach to mortgage financing for individuals looking to take advantage of the current opportunity market. For more information on this topic, or to discuss your individual mortgage needs, please call 403.239.8250.
The information on this web site is intended to help you get top dollar when selling your Calgary and area home, or assist you in negotiating the best price when purchasing your next Calgary and area house or condominium. We offer full real estate services for all communities in and around Calgary, including Heritage Pointe, Elbow Valley, Stonepine, Springbank, Bearspaw, Dewinton, Red Deer Lake, Okotoks, Priddis & Priddis Greens, as well as homes in the Bragg Creek area. Calgary communities we service: Abbeydale Acadia Albert Park Altadore Applewood Park Arbour Lake, Aspen Woods, Banff Trail, Balmoral Bankview Bayview, Beddington Heights, Bel-Aire, Bonavista Downs, Bowness Braeside, Briar Hill, Brentwood Bridgeland Bridlewood Britannia, Calgary Marlborough, Cambrian Heights, Canyon Meadows, Capitol Hill, Castleridge Cedarbrae, CFB Lands (West), Lake Chaparral Charleswood, Chinatown, Chinook Park, Christie Park, Cinnamon Hills, Citadel, Cliff Bungalow, Coach Hill, Collingwood, Confederation Park, Connaught, Copperfield, Coral Springs, Cougar Ridge, Country Hills, Coventry Hills, Cranston. Crescent Heights, Crestmont, Crossroads, Dalhousie, Deer Ridge Deer Run, Diamond Cove, Discovery Ridge, Douglasdale Estates, Downtown West, Downtown East, Downtown Central. Dover, Eagle Ridge, East Village, Eau Claire, Edgemont, Elbow Park, Elboya, Erin Woods, Erlton, Evergreen Estates, Fairview, Falconridge, Fonda, Foothills Estates, Forest Heights, Forest Lawn. Garrison Woods, Glamorgan Glencoe Glengarry Glenbrook Glendale, Glendale Meadows, Grandview Greenview Greenwood Greenbriar Hamptons, Hanson Ranch, Harvest Hills, Hawkwood Haysboro, Hidden Valley, Highland Park Highwood Hillhurst Hounsfield Heights Huntington Hills Inglewood Kelvin Grove Killarney Kingsland, Knob Hill, Lake Bonavista, Lake Sundance, Lakeview, Lincoln Park, Lower Mount Royal, Lynwood Macewan, Maple Ridge, Marlborough Park, Martindale. Manchester Mayfair, Mayland Heights, McKenzie Lake, McKenzie Town, Meadowlark Park, Midnapore Millrise Estates, Mission, Monteray Park, Montgomery, Mountain Park, Mount Pleasant, Mount Royal, Mountview ,New Brighton, North Glenmore Park, North Haven, Oakridge Ogden. Palliser, Panorama Hills, Parkdale Parkhill Parkland, Patterson Heights, Penbrooke Meadows Pineridge, Pleasant Heights, Point McKay, Prominence Point, Pump Hill, Queensland. Radisson Heights, Ramsay Ranchlands, Mountview, Regal Terrace, Renfrew, Richmond Hills, Richmond / Knob Hill, Rideau Park, Riverdale Park. Riverbend Riverside, Rocky Ridge, Rosedale Rosemont Rosscarrock Royal Oak Roxboro Rundle Rutland Park Saddle Ridge Sandstone Scarboro Scenic Acres Shaganappi Shawnee Slopes Shawnessy Sienna Hills Signal Hill Signature Park Silver Springs Simons Valley Somerset South Calgary, Southview, Southwood, Springbank Hill, Spruce Cliff St. Andrew's Heights Stanley Park St. George's Heights Strathcona Park Stonegate Sunalta Sundance Sunnyside Taradale Temple Thorncliffe Triwood Tuscany Tuxedo Park University Heights Upper Hillhurst Upper North Haven Valley Ridge Varsity Victoria Park, Vista Heights, Westgate West Hills West Hillhurst Westmount, West Springs, Whitehorn Wildwood, Willow Park, Windsor Park, Winston Heights, Woodbine and last but not least, Woodlands.
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Tess Vostner-Bell, Jason Bell & Associates
MaxWell Canyon Creek
3205-380 Canyon Meadows Drive SE Calgary, AB T2J 7C3
Tess's cell: (403) 689-1199
Jason's cell: (403) 830-5800
Office: (403) 278-8899
Fax: (403) 592-6695
