Did you know that your credit score can mean the difference between an affordable mortgage rate and an astronomical one? This three-digit number can unlock endless possibilities for your financial future, but only if you know how to properly maintain it. The first step? Knowing how to check your credit rating.
How to Avoid Major Home Buying Errors
Housing affordability continues to remain stable across Canada, creating the perfect environment for savvy home hunters. With more houses available on the market, buyers are becoming much more competitive, rushing to complete their purchase agreements. Situations like this often lead to costly buyer errors, as anxious home hunters make hasty, uninformed choices. These mistakes are sometimes impossible to reverse, so … Read More
Outlook Shaky As Consumer Debt Expected to Rise
While the Canadian economy appears to be weathering the economic storm with surprising ease, Canadian consumers are beginning to show signs of distress. Just last week, Statistics Canada announced a net worth drop of $4,600 per household in the third quarter. Meanwhile, Canadians continue to borrow and buy on credit. Household debt per capita is up by $600 from the … Read More
How to Make Wealth-Building Real Estate Decisions
It’s a sad but stark reality: when buying real estate, far too many Canadians fail to take the basic precautions or perform standard due diligence prior to submitting an offer. Instead of running the numbers, comparing mortgage rates, and consulting with a professional mortgage broker, home hunters are simply throwing caution to the wind and diving into the housing market … Read More
Establishing Credit History
When you pay your charge card, electricity or even water bills, you’re establishing your credit track record and developing a good credit ranking. Having a good credit score will show banks, loan providers, as well as mortgage businesses that you are financially sensible as well as able to make normal repayments. In the end exactly what this achieves, is it … Read More