A well organized move can greatly reduce your stress and contribute to a great experience as you move into your new home. The following checklist can help you stay organized.
6-8 Weeks before you move
- Make moving arrangements with a moving company or moving truck rental company
- Draw out a floor plan of your new home to decide where your belongings will go
- Get packing supplies (tape, boxes, tissue paper, bubble wrap, markers etc.)
- Clean out closets, basement, shed and your garage
- Advise post office of your new address and moving date
- Arrange change of address notices to:
- Phone company
- Insurance company – Arrange to transfer your household insurance to your new property
- Financial Institution and credit card companies
- Utility and cable/satellite providers – Make arrangements to start services on the date of your arrival at your new home
2-4 Weeks before you move
- Cancel or transfer newspaper, magazines, and other home deliveries
- Reserve an elevator with your building superintendent if you’re moving from a condo or apartment building
2-3 Days before you move
Complete all packing. Make sure that you’ve:
- Labeled boxes with the room they will go in
- Placed all important documents in a ‘Safe Box’ that you will transport personally
- Prepare an ‘Open First’ box with the basic necessities for your first night
- Label all keys for the new occupants
- Conduct an initial visit to your new home to verify everything’s okay
For your old home:
- Check all rooms and closets to make sure nothing has been left behind
- Ensure that all electrical devices are unplugged and the thermostat is turned down
- Leave labeled keys with the landlord, lawyer or real estate agent
For your new home:
- Check that you have keys to all the locks in your new home
- Make sure that all utilities are working properly in your new home
- Provide movers with the floor plan
- Check the condition of each box or household item as it is unloaded and make note of any damages
After you move
- Change your address on your driver’s licence, car insurance and with your employer
Owning your own home is a great feeling. At Servus, we can help you become mortgage-free faster by shortening your mortgage with these payment options.
Make a larger down payment
Don’t borrow as much money in the first place and you’ll have that mortgage paid off sooner.
Increase your payment frequency
When you make your mortgage payment weekly or bi-weekly you pay more toward your principal, saving you thousands of dollars in interest and shortening the amount of time it takes to pay off your mortgage. If you choose an accelerated payment plan, not only do you pay more frequently, but you make extra payments over the course of the year.
Increase your payment amount
If your mortgage has an option to increase your payment amount, and you can afford it, boost your payments a little. The extra money goes directly toward your mortgage principal.
Make lump sum payments
You have a few options here. If you have an open mortgage you can pay money toward your principal at anytime. If you have a closed mortgage you may have pre-payment options that allow you to make annual lump sum payments. You can also make a lump sum payment when your mortgage term comes up for renewal, before your new term comes into effect.
Select a shorter amortization period
Decide how much you can afford to pay each month. If you can afford the higher mortgage payments then select a shorter amortization and save thousands of dollars in interest.
If you are buying a new home, this checklist can help you gather the information you need to make the home buying process quick and easy.
Information for buying a home
Information about the property that you are buying:
- MLS listing
- Purchase and Sale Agreement; including any schedules and waivers
- Contact information for your lawyer
Information required about your finances:
Confirmation of down payment through one of the following sources:
- Savings account
- Gift letter from immediate family member
- Proceeds from the sale of another property
- Other assets
If you’re employed you need:
- A letter from your employer on company letterhead that includes your name, salary or hourly pay rate, name and title of the person signing the letter
- 6 months paystub history
- 6 months direct deposit history
- T4s from last two years
If self-employed or on contract:
- Notice of Assessments (NOA) for the last two years
- T1 Generals for the last two years
Other income sources:
- Ask your Servus Financial Advisor or Mobile Mortgage Manager about what confirmation will be required
Additional questions to consider:
- What current assets or savings do you have?
- What current liabilities do you have? Includes outstanding balances and monthly payments
- Do you have critical illness/life insurance coverage?
- What are your current annual property taxes?
- How much are your utilities per month?
- If you own a condominium, what are your monthly condo fees?
- What is the square footage of your home?
- What is the square footage of the land?
To learn more about how you can get your mortgage with Servus contact us by email, phone 1.877.378.8728 or visit your nearest branch.
A good credit score can be a benefit or a burden. It can improve your chances of being accepted for credit cards, loans or even a mortgage. Without the right care though, a bad credit score can severely hinder the amount of money and credit at your disposal.
You have an important role to play in your credit score and you can influence your score by making responsible credit choices.
Tips to raise your credit score
Pay your bills on time
Make sure your bills are paid every month, and on time.
Watch your balances
Don’t carry high balances on your credit card, even if you’re making the minimum payments every month. Outstanding debt influences your credit score.
Avoid retail cards
Every inquiry for credit it kept on your credit report, and too many can cause a potential lender to wonder why you suddenly need so much credit.
Take your time
Remember, it takes time to establish a credit history. Open a credit account and keep it open to establish a history of credit use.
Raising your credit score can take time. By paying your bills on time every month, and maintaining a low balance on your credit cards you can work towards your goal of a higher credit score.