Finance

A question that comes up from time to time when discussing mortgage financing is, “If I have collections showing on my credit bureau, will that impact my ability to get a mortgage?” And as the answer might have a broader application than what you might...

If you’re new to managing personal finance and you’re learning about credit, you’ve come to the right place. Establishing new credit is a bit of a catch 22. To build a credit history, you need credit. But you can’t really get credit without having credit....

COVID-19 is wreaking havoc on retirement investments, particularly for those who rely on dividends as part of their income. Over the past decade, many older Canadians have taken a riskier approach with retirement investments because of low bond yields and interest rates caused by the...

Along with employment stability, and downpayment/equity, your credit score and how you manage your credit is a huge factor in qualifying for a mortgage. If you want the best interest rates available on the market, the higher your credit score the better. However, if you've had...

Although everyone is experiencing the impact of COVID-19 differently, one thing has become evident. As a result of the pandemic, we’re all paying closer attention to our finances. Looking at life post-COVID, it’s going to be essential to have a financial plan. Here are some action...

Should I get a Mortgage Pre Approval? Going through the pre-approval process is important. However, the actual term ‘pre-approval’ is often misunderstood. It’s not magic, and it’s certainly not binding. Let’s be clear, a pre-approval isn’t for the lender; it’s for you! And yes, if you’re considering buying...

Alternative lending refers to lending practices that fall outside the normal banking channels. These are lenders that think outside the box and offer lending solutions to Canadians who wouldn’t otherwise qualify for traditional bank products. Although we all like to think that we’re going to qualify...

If you've missed a payment on your credit card (or line of credit) and you're wondering how this will impact your creditworthiness down the road, this article is for you. But before we get started, if you have an overdue balance on any of your credit cards...

No secret here, divorces are challenging, there are a lot of things to think about in a short amount of time. Although finances are often at the forefront of the discussions as it relates to the separation of assets, managing and maintaining personal credit can...

“Debt servicing” is the measure of your ability to meet all of your financial obligations. There are two ratios that are examined by financial institutions to determine whether you can debt service a mortgage. The first one is called the “gross debt service” ratio (GDS)...