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Building a Credit History

Step one

Open an account at a financial institution, and deposit an amount each month to save for your down payment. This shows you are able to put money aside, an essential skill to paying back a loan.

Step two

Build a healthy credit history starting with paying your bills on time. This includes your rent, utility bills (electricity, heating, telephone, mobile, internet, cable and others). This helps establish that you pay your bills on time. The last 12 months will be scrutinized

Step three

Demonstrate you can manage your debts. To acheive this, take out a small loan from your bank and prove you can repay it as agreed. Getting a credit card and paying the balance on time will show your ability to manage your debts. Create a traceable footprint  that shows you are thorough when it comes to debt repayment. 

The sooner you get started, the better your credit history will be. 

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Building a Credit History

Jean LaBerge

Mortgage Broker


Here’s how you can begin homeownership!