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Category: Financing (18 posts)

Six Tips For Financial Fitness This Fall

Six Tips For Financial Fitness This Fall

September 8, 2021 | Posted by: Barbara Chong

It's September and there is some optimism that we may be moving towards the end of life in a global pandemic. The Fall has had always been a great time to go back to school on financial fitness, and ... [read more]

What are credit scores and how are they important?

What are credit scores and how are they important?

September 1, 2021 | Posted by: Barbara Chong

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 more]

2021 Mortgage Stress Test - Latest Updates

2021 Mortgage Stress Test - Latest Updates

April 21, 2021 | Posted by: Barbara Chong

On April 8th, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is relaunching its consultation on the minimum qualifying interest rate for uninsured mortgages. Usual ... [read more]

April 21-2021 - Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program

April 21-2021 - Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program

April 21, 2021 | Posted by: Barbara Chong

Available as: PDF The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The ... [read more]

April 2021-Bank of Canada Releases Results from Consultations on Inflation and Monetary Policy

April 2021-Bank of Canada Releases Results from Consultations on Inflation and Monetary Policy

April 12, 2021 | Posted by: Barbara Chong

The below details are what has been reported by the Bank of Canada Website Over the past two years, we spoke with thousands of Canadians about their views on the economy, inflation and what the Bank ... [read more]

Multi-Family Lending: What You Need To Know About Hard Money Loans

Multi-Family Lending: What You Need To Know About Hard Money Loans

March 8, 2021 | Posted by: Barbara Chong

Multi-Family Lending: What You Need To Know About Hard Money Loans Multi-family real estate is one of the most popular investments for both newbie and seasoned investors. Buyers in the past used trad ... [read more]

How Good vs Bad Debt Impacts Your Household

How Good vs Bad Debt Impacts Your Household

January 27, 2021 | Posted by: Barbara Chong

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 more]

3 Tips on How to Better Your Credit Score

3 Tips on How to Better Your Credit Score

December 9, 2020 | Posted by: Barbara Chong

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 more]

Should You Refinance Your Mortgage?

Should You Refinance Your Mortgage?

January 15, 2020 | Posted by: Barbara Chong

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 more]

How Much House Can You Afford? Ask Yourself These Critical Questions to Find Out

How Much House Can You Afford? Ask Yourself These Critical Questions to Find Out

July 24, 2019 | Posted by: Barbara Chong

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 more]

3 Simple Ways to Repair Your Credit

3 Simple Ways to Repair Your Credit

July 10, 2019 | Posted by: Barbara Chong

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 more]

3 Smart Ways to Use a Home Equity Line of Credit

3 Smart Ways to Use a Home Equity Line of Credit

March 13, 2019 | Posted by: Barbara Chong

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 more]

How to Improve Your Chances of Being Approved for a Mortgage

How to Improve Your Chances of Being Approved for a Mortgage

December 24, 2018 | Posted by: Barbara Chong

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 more]

Should You Get a Shorter-Term Mortgage, Make Extra Payments, or Something Else?

Should You Get a Shorter-Term Mortgage, Make Extra Payments, or Something Else?

September 26, 2018 | Posted by: Barbara Chong

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 more]

Real Estate: How to Refinance a Mortgage with a Bad Credit Score

Real Estate: How to Refinance a Mortgage with a Bad Credit Score

July 11, 2018 | Posted by: Barbara Chong

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 more]

Why You Need an Emergency Fund And How to Get One

Why You Need an Emergency Fund And How to Get One

May 25, 2018 | Posted by: Barbara Chong

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 more]

The Benefits of Investing in Income Producing Properties

The Benefits of Investing in Income Producing Properties

May 4, 2018 | Posted by: Barbara Chong

Making money in any real estate venture is a difficult task, and many people don't have the skills (or the stomach) for flipping houses. An alternative to this intrinsically risky activity is to purch ... [read more]

Strategies to Dig Yourself Out of the Debt Hole

Strategies to Dig Yourself Out of the Debt Hole

April 27, 2018 | Posted by: Barbara Chong

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 he ... [read more]

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Barbara Chong
Barbara Chong, HBA, CPA, CA, CFP
Toronto, Mortgage Broker
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