Do you Borrowing Costs Are Increasing? Do you Know Why? How to Borrow Smartly

However, with a looming trade war and a Canadian borrower who is now feeling the effects of new policies enacted by the Liberal Government that are giving consumers little choice when it comes to refinancing or renegotiating their mortgage, should we take a pause? Economists are pricing Wednesday’s rate decision at an 80% chance of […]

What is Balance Sheet vs. Non-Balance Sheet Check it out now.

Embarking on a journey to financial literacy requires a clear understanding of the fundamental tools that drive financial decision-making. Among these, the concepts of Balance Sheet and Non-Balance Sheet items stand out as crucial elements in assessing the health and performance of an organization. In this blog, we’ll delve into the intricacies of Balance Sheet […]

Which Lender Type Is Right for You?

If you’re thinking of going with a traditional bank for your home loan, I have some surprising news I think you’ll want to know before you decide. You see, any chartered bank in Canada is known as a “balance sheet lender”. They’re called this because your home loan is on their books as an asset. […]

Simple Banking Mistakes to Watch Out For

The Payday Loan Promise Payday loans work on a tantalizing promise: we’ll loan you money until your payday comes, but we’ll charge you high interest rates for the “privilege”. Since many of them work outside the law, they can practically promise you the moon. They also prey on your situation, adding pressure, asking for personal […]

Attention Seniors! Beware of the Reverse Mortgage Trap

The reverse mortgage. It sounds perfect from what the dazzling commercials and flawless brochures tell you: You can keep your home. Tap into money for your retirement. Make your Golden Years your best years ever… But before you sign up, it’s important to know what you’re actually getting into. While it’s true that a reverse […]

What’s an Appraisal, and Why is it Important?

No two homes are alike. For this reason you will need to have your new home appraised before the lender approves your mortgage loan. So, what exactly is an appraisal? An appraisal is a judgment of worth by a professional. The appraiser will visit your home and inspect the size, condition, quality and function. The […]

Turned down by your bank? Good. This alternative puts you in a better financial position.

It’s time to get real. You’ve been in a committed relationship with your bank for awhile. While you’ve been loyal and optimistic with your bank—trusting them with your family’s future, your kids’ education, your home, and more—you’re not feeling the same level of dedication. Well, you’re right.     Despite the fact that your interest […]

7 key factors to securing the right home equity loan

The procedure of obtaining a home equity loan has altered significantly. A few years ago, accessing the equity you had built up in your property was simple. Banks were happy to lend you money based on the value of your home. Many lenders are attempting to promote home equity loans to Canadian consumers now that […]

6 Things You Should Know Before Closing Your Mortgage.

Closing on your mortgage is the culmination of a significant homeownership journey. As you approach this crucial milestone, here are six key insights to ensure a smooth and informed closing process: 1. Balance Sheet vs. Non-Balance Sheet Lender In Canada, there are two sorts of lenders: balance sheet lenders and non-balance sheet lenders. A “Balance […]

6 things about your personal finances that impact your borrowing options

  Your personal finances play a pivotal role in shaping the borrowing options available to you. Whether you’re looking to secure a loan for a major purchase or navigate through unexpected expenses, understanding the factors that impact your borrowing options is essential. In this blog post, we’ll explore six key aspects of your personal finances […]