Did you know that, overall, 40 percent of Canadians have a mortgage, and most Canadians aged 25 to 44 (nine in 10) will hold a mortgage at some point in their life? The average amount owing is $200,000. All of this is to say that a lot of Canadians are
Buying a house is an exciting time, regardless of whether you’re a first-time homeowner or this is your second or even third rodeo. What’s not exciting, however, is navigating the complicated world of mortgage options. This is especially true if you’re looking for fast mortgages. In Canada, there are over
With homeownership comes repairs; discover the average price of installing a new roof in Canada. When you own a home, there will likely come a time when the roof needs to be replaced due to the materials that start to worsen. Whether you have a roof with clay tiles or
There are several advantages to buying a property— you can create a dream home as you have complete freedom to renovate or remodel it. You can also build up equity in your home in a number of ways, like extra payments, increasing your payments. The biggest advantage is you can
Canada’s household debt crisis and how to manage your debt load on a monthly basis is an important topic of discussion. Canadians are increasingly racking up more debt as total household debt loads rose to the tune of 4% since the beginning of the COVID-19 pandemic. Bank of Canada, which is responsible
Are Homeowner Debt Consolidation Loans Bad for Your Credit? The average Canadian struggles with balancing their life and family with their financial debt. This unprecedented debt comes from unexpected medical bills, car problems, and home repairs. Even those who have a sizeable savings account may face these difficult financial times.
Real estate investments & income taxes: Taxes are no fun for anyone, except perhaps accounts, but they are an inevitable part of life. Getting your head around taxes is one thing, but this is especially difficult when the rules constantly change, and it seems like they’re against the taxpayer. However,
What Are the Benefits of a TFSA vs RRSP? When it comes to money management and savings, “TFSA” and “RRSP” are probably two of the most commonly-used acronyms in personal finance today. And sure, many Canadians understand what both of these mean in a vague and fuzzy kind of way.
What You Need to Know About Home Equity Loans. So, you are considering renovating your home. Or, maybe you want to be able to send your child to college or raise capital for your business. Contrary to popular belief, you don’t need to get involved with high-interest credit cards or
In Canada, about 72% of all outstanding residential mortgages are handled by six of the country’s biggest banks: RBC, Scotiabank, TD, BMO, National Bank, and CIBC. Just because these banks are big doesn’t mean you get automatic approval. You can still be turned down for a loan because you don’t fit
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