In this eye-opening episode of It’s Time for Success: The Business Insights Podcast, host Sharon DeKoning sits down with Joni Bahm, an experienced mortgage broker and trusted financial advisor who’s quietly transformed the financial lives of countless families and entrepreneurs. From helping first-time buyers navigate home ownership to breaking down the mystery of credit scores, Joni shares practical, no-nonsense advice that everyone—especially young adults and entrepreneurs—needs to hear. Sharon and Joni talk candidly about real-life examples, including how Joni helped Sharon’s own son, Ashton, reduce his debt ratio and qualify for his first home.
They unpack how credit scores actually work in Canada, what common mistakes tank your score, and how to start rebuilding today, whether you’re 18 or 58. You’ll also learn about:
- The truth behind phone bills, store credit cards, and their unexpected impact.
- The difference between TransUnion and Equifax, and which lenders use which.
- How auto loans, business purchases, and even co-signing can affect your mortgage eligibility.
- Why not having credit can be just as damaging as having bad credit.
- And how mortgage brokers like Joni offer way more flexibility than the big banks with no cost to you.
This episode is a must-listen for anyone considering home ownership, growing their business, or simply wanting to take better control of their financial health. Packed with relatable stories, digestible strategies, and expert-level knowledge, Joni makes personal finance feel less scary and a lot more doable.
About Joni Bahm
With over 17 years of experience in the mortgage industry, Joni Bahm is a seasoned mortgage professional who blends technical knowledge with a deep passion for helping people achieve financial clarity and home ownership. Based in Lloydminster, Alberta, Joni works with a wide range of lenders across Canada, helping clients find tailored solutions that fit their unique needs.
Her commitment goes far beyond paperwork—Joni is known for educating her clients, mentoring young adults on credit health, and sticking with people through every step of their mortgage or credit repair journey. She’s especially skilled at helping first-time buyers and self-employed individuals navigate the challenges of financing.
As a long-standing member of the BNI Lakeland Leaders chapter and active community supporter, Joni believes in building lasting relationships and empowering people with the knowledge to make confident decisions.
Resources discussed in this episode:
—
Contact Sharon DeKoning | It’s Time Promotions:
- Website: itpromo.ca
- LinkedIn: Sharon DeKoning
- Facebook: It’s Time Promotions
- Google: It’s Time Promotions
Contact Joni Bahm, Indi Mortgage
- Website: jonibahm.ca
- LinkedIn: Joni Bahm
—
Sharon DeKoning: [00:00:16] Today’s episode is a really special one for me, because I get to sit down with someone I’ve come to know and trust deeply through our BNI group, Joni Bahm. A mortgage broker who has quietly become one of the most impactful people in my circle when it comes to helping people make smart financial decisions. To be honest, before I met Joni, I didn’t even know what a mortgage broker did. In fact, I’d never even heard of them. You’re like a quiet superhero. But since getting to know Joni, she’s helped us purchase our condo here in Lloydminster, which now we use as an Airbnb. She’s also helped both my niece and my son, Ashton, buy their very first homes. Joni did more than just get them a mortgage, she looked deeper. With Ashton, for example, she noticed that he was struggling a bit with his debt ratio. Like many young adults, he had no idea how much a poor credit could affect him. He had taken on a car loan with high interest due to bad credit, and even though his score had improved over the years, he was still paying way too much. Joni dug into the details, gave him the guidance he needed, and helped him free up his debt load. Now my son and his wife Ashton, yes they have the same name, are proud homeowners. Something a lot of people don’t realize, working with a mortgage broker like Joni doesn’t cost you anything. Maybe I’m wrong and maybe you have to clarify that. She’s paid by the banks, not by you. I’ll let her explain a little bit more of that as we get going. Whether you’re an entrepreneur, a first time buyer, or just someone wanting to understand your credit a little bit better, this episode is packed with practical knowledge that most of us were never taught. Joni, thank you so much for being here and for stepping out of your comfort zone, which I know you’re stepping out of your comfort zone to share your knowledge with us today.
Joni Bahm: [00:02:00] Thanks for inviting me, Sharon. And yes, totally out of my comfort zone.
Sharon DeKoning: [00:02:05] Okay, today we’re going to talk about understanding your credit score. I did not realize the huge impact. Nowadays it’s quite simple to keep an eye on that with different apps, so you can keep your pulse on those credit scores pretty readily. First of all, let’s talk about what a credit score is and why it matters.
Joni Bahm: [00:02:28] A credit score in Canada, it shows if you’re making your payments on time, it shows if you’re maxed out on your credit, all of that kind of stuff. It shows your credit worthiness to lenders. In Canada, it’s between 300 and 900. Those are the scores that you’re going to be in between. We want it closer to 900. They actually call that the unicorn because it doesn’t happen very often, but that’s what we’re looking for.
Sharon DeKoning: [00:02:54] You’re looking for 900?
Joni Bahm: [00:02:56] Yes, 900. Lenders, when you’re looking for a mortgage, they like to see it over 650. Just a heads up for that. In Canada, there’s two credit reporting agencies. There is TransUnion and Equifax. Equifax is more what most lenders use. A lot of them check both and you’ll find that sometimes something will be reporting on Equifax and not on TransUnion or vice versa. So the scores might be a little bit different on each, and it’s surprising. Sometimes it’s 100 points different.
Sharon DeKoning: [00:03:26] That’s a lot.
Joni Bahm: [00:03:26] Yeah, absolutely.
Sharon DeKoning: [00:03:28] I just had this conversation with one of my team members, talking about what’s actually recorded as a credit score. Do they take different things for credit score? For example, your phone bill would be something that you would have as a credit score. If you don’t pay that bill, you’ll get dinged. So do they record different things or are they always the same on both platforms?
Joni Bahm: [00:03:46] No, they do report differently. So…
