Borrowing money for a down payment can help get you into a house faster. Learn the pros, cons and alternatives.
Paying down your credit card debt with a personal loan can help you get a lower interest rate to get out of debt fast.
When taking out a personal loan, you first need to know how a fixed or variable interest rate will affect how much you pay. With a fixed loan, the rate and payment you make each month stays constant…
If you’re considering a line of credit or personal loan, there are many options to choose from – each with its own complex fine print. Learn why you should choose one over the other…
Homeowners looking to take out a home equity line of credit will find their borrowing power slashed as the National Bank enforced a 65 per cent LTV cap which takes effect today.
Whether you’re saving for your kids’ education, or building up your retirement fund, a savings strategy is a must. But don’t just sit on your nest egg – explore diversification options like RESP’s, GIC’s and TFSA’s to make the most of your stashed-away funds.
Now that you’ve handled your debt, it’s time to take money management to the next level – and that’s ensuring your good financial standing. Make your savings work for you by exploring options such as high interest savings accounts and GICs, and learn the ins and outs of applying for loans – without hurting your credit.
At first glance, getting a second mortgage may seem like adding insult to injury. If you already find it hard enough to meet your monthly (or bi-weekly) payments on your first mortgage, why would you want a second one?!? The fact is that a second mortgage is really a secured line of credit (secured against the value of your house), so financial institutions will offer you a much lower interest rate than, say, credit card companies. As a result, a second mortgage can save you money in the long run (if you’re looking to consolidate various high-interest debts).