How to Raise Your Credit Score and Unlock Better Rates

Amy Kinvig • November 5, 2025

Want a Better Credit Score? Here’s What Actually Works

Your credit score plays a major role in your ability to qualify for a mortgage—and it directly affects the interest rates and products you’ll be offered. If your goal is to access the best mortgage options on the market, improving your credit is one of the smartest financial moves you can make.


Here’s a breakdown of what truly matters—and what you can start doing today to build and maintain a strong credit profile.


1. Always Pay On Time

Late payments are the fastest way to damage your credit score—and on-time payments are the most powerful way to boost it.


When you borrow money, whether it’s a credit card, car loan, or mortgage, you agree to repay it on a schedule. If you stick to that agreement, lenders reward you with good credit. But if you fall behind, missed payments are reported to credit bureaus and your score takes a hit.

  • A single missed payment over 30 days late can hurt your score.
  • Missed payments beyond 120 days may go to collections—and collections stay on your report for up to six years.


Quick tip: Lenders typically report missed payments only if they’re more than 30 days overdue. So if you miss a Friday payment and make it up on Monday, you're probably in the clear—but don't make it a habit.


2. Avoid Taking On Unnecessary Credit

Once you have at least two active credit accounts (like a credit card and a car loan), it’s best to pause on applying for more—unless you truly need it.


Every time a lender checks your credit, a “hard inquiry” appears on your report. Too many inquiries in a short time can bring your score down slightly.


Better idea? If your current lender offers a credit limit increase, take it. Higher available credit (when used responsibly) actually improves your credit utilization ratio, which we’ll get into next.


3. Keep Credit Usage Low

How much of your available credit you actually use—also known as credit utilization—is another major factor in your score.


Here’s the sweet spot:

  • Aim to use 15–25% of your limit if possible.
  • Never exceed 60%, especially if you plan to apply for a mortgage soon.

So, if your credit card limit is $5,000, try to keep your balance under $1,250—and pay it off in full each month.


Maxing out your cards or carrying high balances (even if you make the minimum payment) can tank your score.


4. Monitor Your Credit Report

About 1 in 5 credit reports contain errors. That’s not a small number—and even a minor mistake could cost you when it’s time to get approved for a mortgage.

Check your report at least once a year (or sign up for a monitoring service). Look for:

  • Incorrect balances
  • Accounts you don’t recognize
  • Missed payments you know were paid


You can request reports directly from Equifax and TransUnion, Canada’s two national credit bureaus. If something looks off, dispute it right away.


5. Deal with Collections Fast

If you spot an account in collections—don’t ignore it. Even small unpaid bills (a leftover phone bill, a missed utility payment) can drag down your score for years.


Reach out to the creditor or collection agency and arrange payment as quickly as possible. Once settled, ask for written confirmation and ensure it’s updated on your credit report.


6. Use Your Credit—Don’t Just Hold It

Credit cards won’t help your score if you’re not using them. Inactive cards may not report consistently to the credit bureaus—or worse, may be closed due to inactivity.


Use your cards at least once every three months. Many people put routine expenses like groceries or gas on their cards and pay them off right away. It’s a simple way to show regular, responsible use.


In Summary: Improving your credit score isn’t complicated, but it does take consistency:

  • Pay everything on time
  • Keep balances low
  • Limit new credit applications
  • Monitor your report and handle issues quickly
  • Use your credit regularly


Following these principles will steadily increase your creditworthiness—and bring you closer to qualifying for the best mortgage rates available.


Ready to review your credit in more detail or start prepping for a mortgage? I’m here to help—reach out anytime!


Amy Kinvig

What You Need to Know About Porting a Mortgage When Moving

By Amy Kinvig • September 30, 2026
Porting Your Mortgage: What You Need to Know Before You Rely on It Porting a mortgage means transferring your existing interest rate, remaining term, and outstanding balance from your current home to a new one when you sell and buy again. While some lenders—especially big banks—make porting sound simple, the reality is that porting a mortgage is often complex and far from guaranteed . It’s not a magic solution, and it doesn’t mean you automatically get to keep your old mortgage on your new home. In many ways, porting a mortgage feels like applying for a brand-new one—often with more conditions . Here’s why. 1. You Still Have to Re-Qualify Even though you already have the mortgage, the lender will reassess you. If you: Changed jobs Moved to a new city Are on probation Switched industries or income types …the lender may decline the port. Your previous approval does not carry over automatically. 2. The New Property Must Be Approved The lender also reassesses the new property . Just because they accepted your previous home as collateral doesn’t mean they’ll approve the next one. Expect: A new appraisal A review of the property’s condition Scrutiny around marketability and value If the lender isn’t comfortable with the property, the port can fail. 3. Property Values Rarely Line Up Perfectly Most moves involve a price difference. Buying a more expensive home: You’ll likely need additional funds at a blended rate, which can increase your payment. Buying a less expensive home: You may face a penalty for reducing the mortgage balance. Either scenario can affect your costs. 4. You Still Need a Down Payment Porting doesn’t mean you “swap houses” without cash. You still need: A down payment on the new purchase Closing costs Funds available at the right time This often surprises buyers. 5. Penalties Usually Still Apply (At First) Most lenders: Charge the full mortgage penalty when you sell Refund it only after the port is successfully completed If you’re relying on sale proceeds for your down payment, this temporary penalty can create a cash-flow issue. 6. Timelines Rarely Line Up Perfectly Real estate markets don’t cooperate. You might: Sell quickly but struggle to buy Find a home quickly but wait months to sell Closing dates rarely align, which complicates porting even further. 7. Port Periods Vary by Lender This is where the fine print matters. Depending on the lender, the port window may be: Same day only 30 days 90 days Up to 6 months If the port window is short, both transactions must close within that timeframe—or the port fails. Longer port periods offer flexibility, but also carry the risk of selling first and not finding a replacement property in time. The Bottom Line Porting your mortgage can make sense—especially if you have a strong rate and are buying a similar-priced home. But it is not guaranteed , and it comes with conditions, risks, and timing challenges. Portability is a feature, not a promise. Before you rely on it, it’s important to review all your options , including whether staying with your lender actually makes financial sense. If you’re planning to sell and buy, I’d be happy to walk you through the process, explain your options clearly, and help you decide whether porting is the right move—or if another strategy makes more sense.

What Mortgage Lenders Need to Know About Your Down Payment Source

By Amy Kinvig • September 23, 2026
Why the Source of Your Down Payment Matters More Than You Think When buying a home, most people focus on how much they need for a down payment. What often gets overlooked is that where the down payment comes from matters just as much to the lender . The source of your down payment affects approval, risk assessment, and how your mortgage is structured. Here’s why lenders care—and what you need to know. 1. Anti–Money Laundering Requirements Lenders aren’t just being cautious—they’re legally required to verify the source of your down payment. To comply with anti–money laundering regulations, lenders must document where every dollar of the down payment came from on every purchase. Acceptable Down Payment Sources Down payments can come from: Your own savings or investments Borrowed funds through an insured program (such as FlexDown) A gift from an immediate family member How You Prove the Source Personal savings: You’ll need bank statements showing the funds have been in your account for at least 90 days , or proof they were accumulated through payroll deposits or other acceptable sources. Borrowed funds: Any borrowed portion must be included in your debt service ratios , since you’re responsible for repayment. Gifted funds: A signed gift letter is required confirming the money is a true gift with no repayment obligation , along with proof the funds were deposited into your account. 2. Financial Suitability and Risk The source of your down payment also tells the lender a lot about your financial habits. Down payments coming from your own savings demonstrate: Positive cash flow The ability to save consistently Strong financial management This reassures lenders that you’re more likely to keep up with mortgage payments. If the down payment is borrowed or gifted, lenders may look more closely at the rest of your application to ensure the mortgage remains affordable. Why a Larger Down Payment Helps From a lender’s perspective, more equity equals lower risk. The more money you have invested in the property, the less likely you are to walk away from the mortgage. This reduces the lender’s exposure and can sometimes result in better terms. 3. Down Payment and Loan-to-Value (LTV) Your down payment directly establishes your loan-to-value ratio (LTV)—the percentage of the property’s value being financed. In Canada: Lenders can finance up to 95% of a property’s value The buyer must contribute at least 5% as a down payment Example: On a $400,000 purchase: Maximum mortgage = $380,000 Minimum down payment = $20,000 How the Source Affects LTV Property value must be genuine and independently supported. Lenders rely on appraisals and comparable sales—not artificial price inflation. If: The seller provides money back The buyer doesn’t bring the full down payment independently Funds move “behind the scenes” …the lender considers this a change to the LTV and may decline the mortgage. All financial details of the purchase must be fully disclosed. Non-disclosure is mortgage fraud , and lenders will not proceed if the numbers don’t align. Final Thoughts Lenders ask for detailed documentation about your down payment source for good reason—it affects legality, risk, and the structure of your mortgage. Understanding these rules upfront helps avoid delays, declined applications, and last-minute surprises. If you’d like to review your down payment options or talk through mortgage financing, feel free to connect anytime. I’d be happy to walk you through the process and help you plan with confidence.