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Category: Financing (20 posts)
What are credit scores and how are they important?
September 1, 2021 | Posted by: Mortgage InGenuity
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 ... [read more]
2021 Mortgage Stress Test - Latest Updates
April 21, 2021 | Posted by: Mortgage InGenuity
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 ... [read more]
April 21-2021 - Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program
April 21, 2021 | Posted by: Mortgage InGenuity
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 ... [read more]
April 2021-Bank of Canada Releases Results from Consultations on Inflation and Monetary Policy
April 12, 2021 | Posted by: Mortgage InGenuity
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 ... [read more]
Multi-Family Lending: What You Need To Know About Hard Money Loans
March 8, 2021 | Posted by: Mortgage InGenuity
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 ... [read more]
How Good vs Bad Debt Impacts Your Household
January 27, 2021 | Posted by: Mortgage InGenuity
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 ... [read more]
3 Tips on How to Better Your Credit Score
December 9, 2020 | Posted by: Mortgage InGenuity
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 ... [read more]
How Much House Can You Afford? Ask Yourself These Critical Questions to Find Out
July 24, 2019 | Posted by: Mortgage InGenuity
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 ... [read more]
3 Simple Ways to Repair Your Credit
July 10, 2019 | Posted by: Mortgage InGenuity
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 ... [read more]
3 Smart Ways to Use a Home Equity Line of Credit
March 13, 2019 | Posted by: Mortgage InGenuity
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 ... [read more]
How to Improve Your Chances of Being Approved for a Mortgage
December 24, 2018 | Posted by: Mortgage InGenuity
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 ... [read more]
Real Estate: How to Refinance a Mortgage with a Bad Credit Score
July 11, 2018 | Posted by: Mortgage InGenuity
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 ... [read more]
Planning to Refinance Your Mortgage? Ask These 4 Questions First
April 11, 2018 | Posted by: Mortgage InGenuity
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 ... [read more]
Why Remortgage? 4 Excellent Reasons to Consider Refinancing Your Home
March 14, 2017 | Posted by: Mortgage InGenuity
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, ... [read more]
Saving For College: Four Tips For Parents
November 23, 2016 | Posted by: Mortgage InGenuity
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 ... [read more]
Is Having No Credit As Risky As Having Bad Credit?
October 12, 2016 | Posted by: Mortgage InGenuity
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 ... [read more]
Why Should I Repair My Credit?
September 14, 2016 | Posted by: Mortgage InGenuity
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 ... [read more]
How to Manage Your Credit Card Debt: A 4-Step Strategy
July 13, 2016 | Posted by: Mortgage InGenuity
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 ... [read more]
Strategies to Dig Yourself Out of the Debt Hole
June 13, 2016 | Posted by: Mortgage InGenuity
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 ... [read more]
Why You Need an Emergency Fund And How to Get One
June 6, 2016 | Posted by: Mortgage InGenuity
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 ... [read more]
