For years, we’ve had people ask this question. But it is myth or is it reality?
It’s a myth! When the time comes to qualify for a mortgage to buy your home, financial institutions must check your credit to make sure you’re solvent.
Because your credit score is set based on your credit habits, purchases made in cash are not taken into consideration, which could be problematic when it comes to qualifying for a loan. You may not even be rated by a credit bureau! In this case, it may be harder for you to get a mortgage.
To make sure you have good credit, it is important to use credit instruments regularly and responsibly. The most important thing is to demonstrate excellent repayment habits.
If you have any questions about credit or mortgages, please contact our team. We will be happy to help you.