How late payments impact your credit score and access to credit?
Even if you miss one bill payment, you can lose as much 150 points. While it’s not always so dramatic of a drop, it’s still essential that you pay things off before the deadlines. You may not qualify for prime credit cards, low-interest loans, and decent mortgage rates. This is because when your credit score is less because you’ve missed a payment or are late, this becomes a red flag to lenders. To keep your credit score healthy, make sure to pay your bills on time.
Top 7 Paid Surveys Sites in Canada
We’ll let you know about the top 7 paid survey sites for Canadians. These have been vetted as legitimate, well-established paid survey sites. They all have different incentives that can include cash, gift cards, a point system, sweepstakes, and free products.
Top 12 SUVs in Canada for 2023
As one of the most popular vehicle types out there, there are numerous options for all lifestyles. We’ve created this list so you have an idea about what SUV’s stand out in their class.
How to Spot and Avoid E-Transfer Scams
One of the main ways you can be scammed is through e-Transfers. Unfortunately, there are many ways that you can be scammed if you’re not cautious. We’ll let you know what to look out for and how to prevent scams from happening to you.
How to Buy a Foreclosed Home in Canada in 2023
Foreclosure may be forced on a homeowner because of criminal activity or bad living conditions. There are many circumstances that can cause someone to be removed from their property. Lenders who keep the liens to properties like this will need to do something to get some of their money back as they will be at a loss. The lender is legally allowed to sell the home, putting it up for sale.
The 30 Cheapest Places to Live in Canada for 2023
If you’re currently living in one of the areas in Canada that are inflated, you may want to consider looking for a new place. There are plenty of affordable towns and cities in Canada to get in on owning a home. There are some mortgages you may not currently be able to access because you don’t qualify. If you have the freedom to move, you may want to consider it. There are a lot of Canadians that are working remotely now. If you don’t need to live in one of the expensive cities like Vancouver or Toronto, it’s a great opportunity to explore this incredible country.
Cheapest Electric Cars in Canada for 2023
If you’re looking for an electric car that doesn’t rely on fossil fuels, there’s an option for every budget. There’s also the incentives that come with owning an electric car that reduces your overall cost. You can potentially get personal loans to help you purchase one of these cost-effective vehicles. Here is our list of the cheapest electric cars for 2023.
The 10 best real estate apps for Canadians looking for a house in 2023
The technology of real estate has made great progress, making it easier than ever to house hunt while navigating complex home equity loans applications. Here’s our list of the 10 best real estate apps available to Canadians.
The Dividend Tax Rate in Canada: What You Need to Know Now
If you live in Canada and are an investor, you can benefit from the dividend tax rate. Why is this exactly? A dividend stock in Canada will share the tax burden with the company you’re investing in. If the company performs well financially because of the money you invested, you get to keep the stock and any future dividend returns. Not only that but you pay less tax on dividend income.
Best Bank for Students in Canada
When you’re going through college, you want to save every penny you can. Having a bank account that doesn’t have huge costs attached to it is one of the perks of being a student. The bank knows that someday, you’ll be potentially looking for loans because you’re making good money. So low-cost bank accounts for students are to their benefit. Here are competitive offers that might make your life easier while you’re focused on your studies.
What is Merchant Cash Stacking & Why Should You Avoid It?
It may be tempting, but merchant cash advance stacking can put your small business at risk. In this post, we’ll explore what MCA stacking is, why MCA stacking is dangerous, albeit tempting, and alternative funding options to stacking merchant cash advances.
Let’s get started.
How Small Businesses Can Combat Staffing Shortages with Merchant Cash Advance Funding
Merchant cash advances offer small businesses a quick and simple way to leverage working capital. Because MCAs are repaid from a portion of your daily or weekly sales, hiring employees to help grow your business can allow you to repay your funding faster than other small business loans like Canada Small Business Financing Program loans.
How Law Firms Can Use Merchant Cash Advances to Fuel Growth
There are no restrictions on how merchant cash advance funding can be used, so law firms can use MCAs however they see fit. In this post, we’ll explore 7 ways law firms can use merchant cash advance funding to fuel their growth.
Prime Rates Canada and Their History
It’s expected that the Bank of Canada’s target overnight rate will reach at least 2.00% by the end of 2022. As a result, Canadian bank prime rates will likely be at least 4.20% by the end of the year. Looking back at the decades before now, there have certainly been some higher interest rates based on economic problems. History shows us that things are ever changing and what we’re experiencing now with Prime rates isn’t permanent. Learn more!
Comparing Short-term Business Loans vs. Long-term Loans
Today, we’ll talk about short-term loans vs long-term loans to help you choose the best option for your small business. Let’s get started.
How much can I borrow with a 750 credit score?
Determine what kind of loan you can get approved for with a 750 credit score and use our loan calculator to find out a possible monthly repayment amount.
US Investment Property Financing for Canadians
Better still, so far as the US government is concerned, there are no restrictions for Canadian citizens wanting to purchase real estate in America. With that in mind, here’s what you should know about buying and financing an investment property in the US.
How to build credit for your kids in Canada
During college years, this is the best time to get your kids started on the process of building credit. Once they graduate, credit generally makes getting started easier. Even if they get a good job, it’s going to be at least one year before banks and landlords take them seriously as a responsible adult. There are some things you can do to help them start the process.
Private Mortgage Loans: What They Are and How They Work
Getting approved for a conventional mortgage isn’t always easy—especially if you have poor credit or lack confirmable income. Fortunately, private mortgage loans can fill the gap when you don’t meet the criteria of conventional lenders.
Is There a Minimum Credit Score for Renting an Apartment in Canada in 2022?
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.
Should You Use Your Home Equity for a Loan or Line of Credit
One of the ways you can take advantage of your current status is by using your home equity as collateral. It’s important to consider what your home equity position is. Have you been paying off your mortgage for a long time and have a lot of equity? Your equity builds up every year in your property and as you pay off the loan, you’re also increasing that equity.
What is a Good Credit Score in Canada?
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, you should know what a good credit score looks like.
How To Get a Business Loan with No Collateral
Business loans without collateral are often referred to as “unsecured financing”, but this term isn’t technically accurate. Most business loans without collateral are secured by some kind of asset. Keep reading to learn more about these options, as well as what funding options are available to businesses with no collateral. But first, let’s take a closer look at what “collateral” actually means.
Can I Sell My House When I Have a Home Equity Loan?
If you have a home equity loan or line of credit like many Canadian homeowners, you may be wondering whether you can still sell your house. The short answer to that question is: yes, you can. The bigger question is: should you?
How to Use a Home Equity Loan for an Investment Property
There are varying reasons that a homeowner will choose to take out a home equity loan. It may be to purchase another property or it could be used for improvements. Another loan type is a HELOC, which is a line of credit secured by your home. You can withdraw funds whenever you need them so it offers a bit more freedom than a home. We’ll give you more insight on how to use your home equity loan to buy an investment property.