Mortgages and Student Loans

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Let’s take a few minutes to talk about refinancing…

The obvious reasons to refinance are to get a lower interest rate or consolidate your debt.  However, we want to spend a few minutes today to talk about refinancing your mortgage to help pay for your kids post secondary education.

On average, it costs up to $80,000 to complete an undergraduate degree in Canada. This is a large sum of money if you do not have an RESP set up or some kinds of savings put aside. Continue reading →

Check Your Credit **Free** Without Affecting Your Credit Score

 

Theresa’s Soap Box | SMP Online

There are 2 major credit reporting agencies in Canada: Equifax and Transunion. Usually you would have to pay to check your credit score, and when you check it through a bank/mortgage broker or apply for a credit card, there is a record of this check. If you do many credit checks over time, this will eventually lower your credit score. Continue reading →

4 Different Types of Insurance for Your Home

Theresa’s Soap Box | SMP Online

  1. Home insurance
  2. CMHC
  3. Title insurance
  4. Mortgage life insurance/creditor insurance

Home Insurance Continue reading →

3 Things that Affect Your Credit Score

Theresa’s Soap Box | SMP Online

1)      Approaching or surpassing your credit limit on credit cards

  • For example you have a $5,000 limit on your credit, don’t go over 75% of that limit. Keep it under $4,000.  If you approach your limit, the bank will think that you are not able to manage your money as you have to use all the money that is available to you.
  • If you go over your credit limit, even by $1 or $2, it will make a huge impact on your credit score. Continue reading →