Quote:
Originally Posted by davidyan
Thats strange that the bank wouldn't accept due to your lack of credit history alone given you have a good job and down payment. When I was 23 (I'm 26 now) I bought a house with barely any history at all and got a good rate. All they required me to do was to put more than 20% down for the house. A car should be even easier.
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(added this after I read what I said.... This was not to sound mean just the way you can read it)
That’s wrong. A House (Mortgage) is probably the EASIEST form of credit to get especially in Canada and even more before the credit "crunch"
Reason = Mortgage is fully secured to an assets that will not depreciate but will increase in value. A bank is more guaranteed because the home value will not decrease 25% the first time its "driven"