Category: Financing (26 posts)
Do you need a Personalized Paydown Plan for your holiday bills?
January 28, 2025 | Posted by: Barbara Chong
Most Canadians suffer with their highest personal debt load in January, when the "holiday hit" arrives and your credit card statements let you know just how much the festive season cost you. It's espe ... [read more]
Understanding Capital Gains in Canada
November 11, 2024 | Posted by: Barbara Chong
What Are Capital Gains? Capital gains refer to the profit you earn when you sell a capital asset-such as property or investments-for more than its original purchase price. For example, if you bough ... [read more]
7 Financial Tips for People Looking to Buy an Investment Property in Canada
July 19, 2024 | Posted by: Barbara Chong
Investing in real estate can be a powerful way to build wealth, but it's essential to approach it with a well-thought-out strategy. Here are seven financial tips to help you purchase an investment pro ... [read more]
Tips for Improving Your Credit Score Before Applying for a Mortgage
November 1, 2023 | Posted by: Barbara Chong
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 more]
Bank Of Canada Rate Update June 7, 2023
June 7, 2023 | Posted by: Barbara Chong
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 more]
A Six-Step, Back to Basics Financial Plan for Most Every Canadian
November 21, 2022 | Posted by: Barbara Chong
It's a tough time to know what the right financial move is at the moment. Interest rates are increasing, while stocks are in bearish territory. It's easy to forget that there are smart things that you ... [read more]
Budgeting for Inflation
August 3, 2022 | Posted by: Barbara Chong
Budgeting for Inflation If you thought the end of the pandemic would bring a return to economic normalcy, 2022 has certainly been surprising. Summer has seen inflation return to the forefront of cons ... [read more]
Spring Clean Your Finances
April 8, 2022 | Posted by: Barbara Chong
Spring Clean Your Finances Spring finally arrived after a long winter, and with inflation and the rising cost of living on everyone's mind, there's never been a better time to do a little spring clea ... [read more]
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?
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
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 | 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 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
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
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
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?
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
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
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
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
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]
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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
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
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
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
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]
