Mortgage Blog
Designing Mortgages Around You!
Category: Financing (20 posts)
What are credit scores and how are they important?
November 9, 2021 | Posted by: Mortgage InGenuity Inc.
A credit score is a number that shows how likely you are to pay or default on credit. It ranges from 300 to 850; the higher the number, the more creditworthy lenders deem you. Your credit history dete ...
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2021 Mortgage Stress Test - Latest Updates
August 17, 2021 | Posted by: Mortgage InGenuity Inc.
On April 8th, the Office of the Superintendent of Financial Institutions (OSFI) announced that it is relaunching its consultation on the minimum qualifying interest rate for uninsured mortgages. Usual ...
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April 21-2021 - Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program
August 3, 2021 | Posted by: Mortgage InGenuity Inc.
Available as: PDF The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The ...
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April 2021-Bank of Canada Releases Results from Consultations on Inflation and Monetary Policy
July 27, 2021 | Posted by: Mortgage InGenuity Inc.
The below details are what has been reported by the Bank of Canada Website Over the past two years, we spoke with thousands of Canadians about their views on the economy, inflation and what the Bank ...
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Multi-Family Lending: What You Need To Know About Hard Money Loans
July 6, 2021 | Posted by: Mortgage InGenuity Inc.
Multi-Family Lending: What You Need To Know About Hard Money Loans Multi-family real estate is one of the most popular investments for both newbie and seasoned investors. Buyers in the past used trad ...
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How Good vs Bad Debt Impacts Your Household
June 15, 2021 | Posted by: Mortgage InGenuity Inc.
In order to understand the difference between good and bad debt, it's important to track your income and expenses and established saving goals for your family. Financial stability allows you to mee ...
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3 Tips on How to Better Your Credit Score
May 25, 2021 | Posted by: Mortgage InGenuity Inc.
Having a good credit score is of paramount essence as it affects your ability to access loans and borrow money. Your credit score rating influences the amount of mortgage you qualify for. You may ...
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How Much House Can You Afford? Ask Yourself These Critical Questions to Find Out
October 13, 2020 | Posted by: Mortgage InGenuity Inc.
It is the perennial question for every first-time homeowner. How much house can I afford? As with so many life-changing decisions, there is no one right answer to this common query, and the size of th ...
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3 Simple Ways to Repair Your Credit
October 6, 2020 | Posted by: Mortgage InGenuity Inc.
For many Canadians looking to purchase a home, bad credit scores stand in the way of getting a mortgage. Most lenders prefer your score to be 650 or higher. If they do allow for lower credit scores, i ...
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3 Smart Ways to Use a Home Equity Line of Credit
August 11, 2020 | Posted by: Mortgage InGenuity Inc.
For homeowners across the globe, home equity lines of credit (HELOCs) have become a handy way of tapping into the value of their homes. However, when borrowing money against your home, it is always ...
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How to Improve Your Chances of Being Approved for a Mortgage
June 30, 2020 | Posted by: Mortgage InGenuity Inc.
For most first time home buyers, obtaining a mortgage is a crucial part of the purchasing process. However, being approved for a mortgage is often easier said than done. It can be disheartening to f ...
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Real Estate: How to Refinance a Mortgage with a Bad Credit Score
April 14, 2020 | Posted by: Mortgage InGenuity Inc.
There are many excellent reasons a homeowner may look into refinancing their mortgage. To refinance means to replace your current mortgage with a new one, almost always with a lower interest rate. For ...
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Planning to Refinance Your Mortgage? Ask These 4 Questions First
March 10, 2020 | Posted by: Mortgage InGenuity Inc.
Deciding to refinance is a crucial financial move that can help you make significant savings. When you plan properly, do your research, and take time to evaluate where you stand financially, you'll be ...
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Why Remortgage? 4 Excellent Reasons to Consider Refinancing Your Home
August 20, 2019 | Posted by: Mortgage InGenuity Inc.
Your home is probably the most significant purchase you'll ever make, yet it's surprising how many people simply continue paying their mortgage every month without thinking too much about it. However, ...
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Saving For College: Four Tips For Parents
May 28, 2019 | Posted by: Mortgage InGenuity Inc.
One of the prime concerns of parents, especially parents of teenagers, is how their children will be able to afford college tuition. With prices going up each year at even state and community colleges ...
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Is Having No Credit As Risky As Having Bad Credit?
April 9, 2019 | Posted by: Mortgage InGenuity Inc.
Let's clear up one misconception, right off the bat: having no credit is not the same as having bad credit. 'No credit' simply means that your credit history - which tracks your loans and repayments o ...
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Why Should I Repair My Credit?
March 19, 2019 | Posted by: Mortgage InGenuity Inc.
Your credit history is more than just a number; it affects nearly every aspect of your financial life. If you are suffering from a low credit score, you're probably an excellent candidate for credit r ...
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How to Manage Your Credit Card Debt: A 4-Step Strategy
February 12, 2019 | Posted by: Mortgage InGenuity Inc.
Being in debt is undoubtedly stressful, more so when the interest rates keep pushing your overall debt to skyrocketing amounts. Many people fall into the temptations of unnecessary expenditures and en ...
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Strategies to Dig Yourself Out of the Debt Hole
January 15, 2019 | Posted by: Mortgage InGenuity Inc.
Debt. It's something almost everyone will have at some point in their life. But what happens when your debt begins to get the better of you? What options are available? Some simple strategies can he ...
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Why You Need an Emergency Fund And How to Get One
January 8, 2019 | Posted by: Mortgage InGenuity Inc.
Building an emergency fund is something most people know they should do but few actually get around to doing. A recent study found that nearly two-thirds of Americans did not have an emergency fund, a ...
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