With inflation near a 40 year high in Canada, I’m sure you’ve felt the pain when you went to the grocery store or filled up your car like a lot of Canadians. Let’s look at what inflation is and what it means for the average Canadian.
Two basic parts of most types of credit account payments are principal and interest. Principal is the amount borrowed, which can mean the price of an item (like a car or house) or the amount of credit used (as in credit cards and credit lines). Interest is the cost the lender charges the borrower to extend credit, which is where some borrowers get confused or pay more than they bargained for.
Buying a home for the first time is a fantastic experience. The process seems like it goes by super quickly, but so many homebuyers do not realize some of the expenses of buying your first home. So, we thought it was about time that we took some time to let you know some of the costs that you may face when it is time to put pen to paper. We should note that each sale is a little different, and you might see different or lower costs when it is your time to buy.
Most landlords and rental companies check the credit scores of potential tenants as part of their application process. But is there a minimum credit score requirement for renting an apartment in Canada? Here’s what you need to know about credit scores and renting in 2022.
A good credit score can go a long way in Canada when it comes to getting approved for a credit card, line of credit, or loan. So if you’re planning to borrow funds or apply for any type of credit in 2022, you should know what a good credit score looks like.
Your credit is an important part of improving your quality of living. When you have good credit, you can make large purchases like investing in a home or buying a new, reliable car. If you have bad credit, you may be wondering how long it stays with you. Your credit report has financial information about your credit history and determines the score you have. Lenders report bill payments to the credit bureaus in Canada and then it’s updated to your credit report. Whenever your credit report is updated, your credit score may change as well.
Unless you are fortunate enough to have cash to buy your home, getting the right property is only half the problem. The other half is in knowing the best type of mortgage to choose. This is why it is essential to pay attention to know the top strategies for home buyers looking to find the best mortgage.
We’ve gathered the information you need to make that informed mortgage decision. You should choose the right mortgage and when you have some information on it; you can be sure to be someone who is making the right decision overall.
Savings bonds are a popular choice to go with for those who want to gift someone with a financial gain that grows with time. For decades this used to be one of the easiest ways to grow some of your cash and cash out later when it matures. However, since 2017; savings bonds have really died down. Find out even more about these Canada Savings Bonds, what they are, why they are now gone, and how you might be able to cash yours in if you’re still holding onto them.
With many types of personal loans and lenders, you can choose which ones work the best for you based on the specifics they’re offering. Consider how much you need to borrow, what the lenders are offering, and whether you qualify for the loans through the lenders depending on their requirements. Learn more about the rates to expect for these personal loans in Canada.