Additional Principal Payment (APP) means you can pay extra money in addition to your required loan payment to help pay off the principal loan amount faster. By making the extra payment, you also reduce the amount of interest paid.
The Government of Canada provides financial assistance to low income families through a number of programs. Take a look at these three programs and click on the link to see if you qualify.
As well, about half of current homeowners are looking to upgrade their abode over the same time frame. This confidence points to last summer’s amortization and housing affordability changes having less of a cooling impact than anticipated, as buyers may be overcoming the financial struggle of shorter payback timelines.
If the financial crash of 2008 has taught us anything, it’s that the world’s economies are closely intertwined. While the subprime mortgage fiasco played out on Wall Street, Europe was plunged into a recession with no end in sight. Although our biggest trading partner remains the United States, Europe’s recession has a ripple effect on the Canadian economy as well.
As insurance can be a complex product, it’s important to have a full understanding of your policy terms before signing that dotted line. Here’s a list of questions to ask your broker when choosing your coverage.
Whatever your insurance requirements, coverage exists to protect you – the policyholder. Finding the perfect insurance fit depends on your personal financial responsibilities, dependents and goals. The first step is to determine how much coverage is required to cover your existing financial requirements or to provide income to dependents after your death.
But are you paying more than you need to for that peace of mind? It’s true that the best coverage can be a hit to the wallet over time. Fortunately, there is money to be saved by understanding your insurance options. Check out these methods for paying less on your coverage: