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Category: Financing (36 posts)
Tips for Improving Your Credit Score Before Applying for a Mortgage
November 1, 2023 | Posted by: Donna Alamolhoda
Tips for Improving Your Credit Score Before Applying for a Mortgage For many people, buying a home is a significant milestone in their lives. However, getting approved for a mortgage is ...
read moreBank Of Canada Rate Update June 7, 2023
June 7, 2023 | Posted by: Donna Alamolhoda
Bank of Canada raises policy rate 25 basis points, continues quantitative tightening The Bank of Canada today increased its target for the overnight rate to 4.75%, with the Bank Rate at 5% and the ...
read moreWhat are credit scores and how are they important?
September 1, 2021 | Posted by: Donna Alamolhoda
A credit score is a number that shows how likely you are to pay or default on credit. It ranges from 300 to 850; the higher the number, the more creditworthy lenders deem you. Your credit history dete ...
read moreHow Good vs Bad Debt Impacts Your Household
January 28, 2021 | Posted by:
In order to understand the difference between good and bad debt, it's important to track your income and expenses and established saving goals for your family. Financial stability allows you to mee ...
read more3 Tips on How to Better Your Credit Score
January 7, 2021 | Posted by:
Having a good credit score is of paramount essence as it affects your ability to access loans and borrow money. Your credit score rating influences the amount of mortgage you qualify for. You may ...
read moreShould You Refinance Your Mortgage?
August 6, 2020 | Posted by:
There are a multitude of reasons why a homeowner may be considering refinancing their mortgage. However, before any final decisions are made it is always a good idea to consider carefully whether refi ...
read moreReal Estate: How to Boost Your Credit Score Before Buying Applying for a Mortgage
June 18, 2020 | Posted by:
For the vast majority of home buyers, obtaining a mortgage will be a vital part of the purchasing process. Of course, in order to be approved for that mortgage, you will need to ensure that your cre ...
read moreHow Much House Can You Afford? Ask Yourself These Critical Questions to Find Out
May 28, 2020 | Posted by:
It is the perennial question for every first-time homeowner. How much house can I afford? As with so many life-changing decisions, there is no one right answer to this common query, and the size of th ...
read more3 Simple Ways to Repair Your Credit
May 21, 2020 | Posted by:
For many Canadians looking to purchase a home, bad credit scores stand in the way of getting a mortgage. Most lenders prefer your score to be 650 or higher. If they do allow for lower credit scores, i ...
read more3 Smart Ways to Use a Home Equity Line of Credit
March 26, 2020 | Posted by:
For homeowners across the globe, home equity lines of credit (HELOCs) have become a handy way of tapping into the value of their homes. However, when borrowing money against your home, it is always ...
read moreHow to Improve Your Chances of Being Approved for a Mortgage
February 20, 2020 | Posted by:
For most first time home buyers, obtaining a mortgage is a crucial part of the purchasing process. However, being approved for a mortgage is often easier said than done. It can be disheartening to f ...
read moreThe Pros And Cons Of Reverse Mortgages - A Quick Guide
February 6, 2020 | Posted by:
No matter how carefully you plan, life can put a dent in your retirement funds. A life-altering accident or illness can turn your life upside down. Dipping into your retirement to meet uncovered expen ...
read moreShould You Get a Shorter-Term Mortgage, Make Extra Payments, or Something Else?
January 9, 2020 | Posted by:
When getting a home mortgage, if you can afford higher payments, often the option of a 15-year loan instead of one of 30 years is an option. It can be an enticing idea to know that you'll be free of a ...
read moreReal Estate: How to Refinance a Mortgage with a Bad Credit Score
December 5, 2019 | Posted by:
There are many excellent reasons a homeowner may look into refinancing their mortgage. To refinance means to replace your current mortgage with a new one, almost always with a lower interest rate. For ...
read morePlanning to Refinance Your Mortgage? Ask These 4 Questions First
October 24, 2019 | Posted by:
Deciding to refinance is a crucial financial move that can help you make significant savings. When you plan properly, do your research, and take time to evaluate where you stand financially, you'll be ...
read moreFour Strategies That Can Help You Get Approved for a Mortgage
September 26, 2019 | Posted by:
So, you've decided to take the big step and look into getting what will likely be the biggest loan of your entire life: a mortgage. Applying for a mortgage can be a bit of a nerve-wracking process, es ...
read moreCan You Afford to Buy a New Home?
September 5, 2019 | Posted by:
Is Purchasing a New Home in Your Budget? If you're throwing your hard-earned money away on rent each month, putting that same amount towards your own home could be an incredible advantage. However, i ...
read moreFive Reasons Why You Should Have More Than One Bank Account
August 1, 2019 | Posted by:
In today's tech world, being victimized by hackers can leave you penniless if you have only one bank account. The following five situations demonstrate how a having a backup account can keep you ...
read moreFive Ways to Simplify Your Financial Life
July 4, 2019 | Posted by:
No matter who you are or what you do for a living, it can seem like your bank statements, credit card receipts, and other financial documents are burying you alive. If you are struggling under the wei ...
read moreSavvy Spender: Simple, Smart Ways to Make the Most of Your Credit Cards
June 20, 2019 | Posted by:
Savvy Spender: Simple, Smart Ways to Make the Most of Your Credit Cards With their vast array of special perks and member benefits, credit cards are an appealing financing option for modern consumers ...
read moreBuying a Home, Step One: Mortgage Pre-Approval
May 9, 2019 | Posted by:
Whether you're looking to buy your first home, or haven't purchased a home in the past several years, you may be surprised to discover that searching your local real estate listings is not the best pl ...
read moreWhy Remortgage? 4 Excellent Reasons to Consider Refinancing Your Home
April 25, 2019 | Posted by:
Your home is probably the most significant purchase you'll ever make, yet it's surprising how many people simply continue paying their mortgage every month without thinking too much about it. However, ...
read moreSaving For College: Four Tips For Parents
March 7, 2019 | Posted by:
One of the prime concerns of parents, especially parents of teenagers, is how their children will be able to afford college tuition. With prices going up each year at even state and community colleges ...
read moreIs Having No Credit As Risky As Having Bad Credit?
February 14, 2019 | Posted by:
Let's clear up one misconception, right off the bat: having no credit is not the same as having bad credit. 'No credit' simply means that your credit history - which tracks your loans and repayments o ...
read moreWhy Should I Repair My Credit?
January 31, 2019 | Posted by:
Your credit history is more than just a number; it affects nearly every aspect of your financial life. If you are suffering from a low credit score, you're probably an excellent candidate for credit r ...
read moreHow to Manage Your Credit Card Debt: A 4-Step Strategy
January 3, 2019 | Posted by:
Being in debt is undoubtedly stressful, more so when the interest rates keep pushing your overall debt to skyrocketing amounts. Many people fall into the temptations of unnecessary expenditures and en ...
read moreWhy is Saving Money so Hard?
December 20, 2018 | Posted by:
Saving money is a lot like dieting -- easy to understand but difficult to execute and follow through. Intellectually, you know that having that extra piece of pie or second helping of French fries is ...
read more3 Ways to Change Your Financial Habits
December 6, 2018 | Posted by:
Some financial habits are good, but others can hold you back and prevent you from saving. If you need to change your financial habits, it is important to take a step-by-step approach. This three-step ...
read more5 Smart Ways to Improve Your Credit Score
November 22, 2018 | Posted by:
Whether you want to buy a house or just get a better rate on your credit card, your credit score will play a big role in how well you do and how much you have to pay. If you do not know your ...
read moreImportant Steps to Take in Your 30s to Prepare for Retirement
November 1, 2018 | Posted by:
Some adults begin planning and saving for retirement immediately after graduating college and entering the workforce. Others delay retirement planning, believing that they have several decades to save ...
read moreGreat Tips To Pay Off Your Mortgage Early
October 25, 2018 | Posted by:
Are you looking for ways to speed up paying off your mortgage? Most mortgages are taken out for 15- to 30-year periods. However, this shouldn't stop you from paying off your mortgage early if you come ...
read moreStrategies to Dig Yourself Out of the Debt Hole
October 18, 2018 | Posted by:
Debt. It's something almost everyone will have at some point in their life. But what happens when your debt begins to get the better of you? What options are available? Some simple strategies can help ...
read moreWhy You Need an Emergency Fund - And How to Get One
August 9, 2018 | Posted by:
Building an emergency fund is something most people know they should do but few actually get around to doing. A recent study found that nearly two-thirds of Americans did not have an emergency fund, a ...
read moreFinancing Your First Home
July 26, 2018 | Posted by:
A lot of emotions are involved when preparing to apply for your first mortgage, including excitement, apprehension, joy, and dread. If you do the necessary preparation before diving into the home-buyi ...
read moreHow to Maintain a Good Credit Rating Throughout the Year
July 5, 2018 | Posted by:
If you want to make it easier to get an auto loan, mortgage, or new credit card account, you need to maintain a good credit score. It's easy to do so, particularly if you follow the tips presented her ...
read moreHow Much Can I Afford To Pay For A Home?
June 21, 2018 | Posted by:
To determine 'affordability' you will first need to know your taxable income along with the amount of any debt outstanding and the monthly payments. Assuming it is your principal residence you are p ...
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