Personal vs. Business Credit Scores
A good credit profile makes a huge difference in the financial success of any business. How a business maintains its credit is reported to credit bureaus just like personal credit. Likewise, this information is used to create a numeric business credit score, which lenders use as an indicator of creditworthiness. A solid score also builds...
Mortgage Points Information for New Buyers
Holding the keys to that first home is a milestone event in the life of an adult. New home buyers can become so caught up in getting a new residence that they miss the implications of important fine details of financing a mortgage. For instance, the impact of mortgage points on their loan may get...
Buying a Home With Bad Credit: Tales of Success
If a home loan is not approved on the first try, it pays to apply with another creditor that will be open to saying yes. There are countless lenders that offer mortgages specifically for buyers with bruised credit or other financial situations. All borrowers should know their credit score in advance so they have an idea of their chances for approval.
How to Get a Business Credit Card
Small business owners just starting out may think a company credit card is unnecessary. But even new companies can receive benefits and perks, along with expense management, to help the business to grow. Over time, building good business credit becomes a calling card to opportunities that produce the leverage needed to advance a small business into a thriving empire.
Canadian Mortgage Stress Test FAQs
On January 1, 2018 the Canadian government applied new guidelines to the Mortgage Stress Test (MST). Basic requirements were already in place for borrowers who put less than a 20% down payment on their home mortgage loan. With the new test guidelines, all conventional mortgage loan borrowers became subject to the new revisions regardless of the down payment amount. The changes included a number of other stringent rules for federally governed lenders to approve mortgages.
What is the Prime Rate?
The cost of credit is not exactly free, yet borrowers do save tons of money with prime interest rate loans. We’ve researched predictors of changes in prime rates and share that information to help you make sound financial decisions that will cost you the least money.
Canada Child Benefit Loan Applications
CCB assistance is received in the form of a monthly tax-free payment to parents of minor children. Because the benefit is paid on a regular basis (monthly), it is considered qualified income which can be used in an application for a personal loan. In fact, due to popular demand, there is an abundance of loan products exclusively geared to child tax benefit recipients.
Prepaid Debit Card Do’s and Don’ts
Prepaid debit cards are currently a staple in the financial sector, especially since more than 2 billion people are without bank accounts. Low credit scores mean credit card denials or, even worse, credit cards with abysmally high interest rates. That’s where prepaid cards come to the rescue.
Avoid Popular Loan Scams Disguised as Financial Fairy Tales
Consumers who find themselves squeezed tight in a money pinch can easily become victims of popular loan scams. This article will explore some of the most common of these dastardly deeds.
Comparing Credit Score Averages in Canada and the United States
Maintaining a healthy, if not perfect, credit score should be a top financial priority. What are the average credit scores for people in Canada and the United States? Are there differences in how scores are calculated in these countries?