Loan Articles
MortgagesBuying a house is one of the biggest decisions you will ever make. Finding the right mortgage to meet your financing needs can seem like a difficult task. However, in today’s world you have choices when you apply for a mortgage. You do not have to sign...
Payday LoansFrom time to time we all find ourselves a little short on cash. You may find you do not have enough money to pay one of your bills for the month, or your car breaks down and you do not have the cash to get it fixed. What can you do if you need some mone...
Personal LoansDo you need a personal loan? There are two types of personal loans -
secured and unsecured personal loans. The most popular personal loans are those that are ...
Credit CardsCredit cards; they can be good and they can be bad. Most people in this day and age have at least one credit card. You can order products and services online or over the telephone using a credit card. Credit cards can be used to book a flight on...
Auto LoansAre you planning to buy a new vehicle? Are you buying a new truck, car, motorcycle or boat? There are many lenders who will offer you an
auto loan. The Internet now makes it possible for you to compare rates and pre-qualify for a loan from the co...
Small Business LoansSo you have decided to make your dream for your own small business a reality. You have the ideas, the skills and the dedication for your business to be a success. Now all you need is a way to fund your small business. The government in Canada want to s...
Student LoansFunding your college education can seem a little overwhelming. There are many options to help you pay for your education. If you already have loans a
school loan consolidation may help....
Home LoansDo you need to consolidate debt? Could your house use some home improvements? Are your children about ready to enter college? If the answer to any of these questions is yes, you may want to consider a home equity loan or line of credit.
A home equit...
Bad Credit LoansIt can happen to the best of us; bad credit. There are many factors that can hurt our credit. Having bad credit can make it difficult to get loans and credit. However, it is not impossible. There are lenders that are willing to work with people who have...
Consolidation LoanSometimes in life debts get out of hand. We do not mean for it to happen and yet it does. Our debts add up and it becomes more and more difficult to make payments each month. We may even start to fall behind on our payments. A debt consolidation loan ...
Canadian BanksThe banking system in Canada has been judged to be the best and safest in the world.
No bank has failed in Canada since 1923, and not a single
Canadian bank failed during the Great Depression. One of the reasons for this safety has been that...
Guide to Canadian Credit ReportsImagine a document that can affect whether or not you will get a
mortgage for a new home, a
loan fo...
Credit Card Balance Transfer AdviceUsing the balance transfer technique is a way you can save money on your credit card expenses. Essentially, one credit card will be paying off the balance of your other cards. Normally, the reason you will transfer your balance from one card to another is...
Home Equity LoansYou can use the equity in your home to access money and to obtain lines of credit and
mortgage refinance. The equity in your home can also provide a down payment on the p...
First Time Home Buyers AdviceBuying a home is very exciting. However, it can also be a stressful time and seem overwhelming to the first time buyer. Before making the decision to buy a home, you should make sure it is the right time. Are you financially ready for the responsibilit...
Credit Card RightsWhen it comes to using your credit card, you have several rights as the consumer of which you should be aware. Your rights include the prompt credit for payment, refund of any
Mortgage TypesThere are several types of mortgages available to homebuyers. Some of these mortgage types include: reverse mortgages, zero down mortgage, fixed rate mortgage, interest only mortgage, open and closed mortgages and variable rate mortgages. A person can ...
Auto Loan DealsShopping for a car and finding a good deal on an auto loan is not an easy task. Dealers will sometimes set you up with financing with interest rates that are too high and add-ons that you really do not need for your car.
The Internet makes it fast an...
Canadian Energy TrustsCommodity investing is once again a hot topic. Commodity investing can be problematic. Commodities are often extracted in unstable places. Holding commodities can be expensive and inconvenient. Finally commodity investments are often long term and risky i...
Canada Revenue AgencyWhat is the Canada Revenue Agency?
The Canada Revenue Agency is the body that collects the taxes for the federal government of Canada, most of the constituent provinces and all the territories. It has gone through a number of name changes, wit...
Goods and Services Tax (GST)The
Goods and Services Tax (GST) is a tax levied on sales of goods and services by the Canada Revenue Agency.
Value Added Tax
The Goods and Services Tax is collected as a value added tax. This means that it is levied at each stage ...
Deposit Insurance in CanadaIn Canada most savings deposits are covered by the
Canada Deposit Insurance Corporation (CDIC) which is paid for by premiums from member institutions and backed by the Federal government of Canada. This means that your savings are as safe as the Ca...
Guide to Mortgage Insurance in CanadaIf you are buying a home with a down payment lower than 20% you must have
mortgage insurance. About half of Canadian homebuyers fall into this category.
Mortgage insurance before 2007
Until April 2007 mortgage insurance had to be take...
Mortgage GuideSo you’ve found the perfect home. Now all you need to do is actually get the money together to buy it. As houses cost several times the average annual salary, you will almost certainly need to get a loan, or mortgage. A
mortgage is a special type...
Mortgage Lenders in CanadaThere are a number of different
mortgage lenders in Canada and it pays to know what the differences are. This article will run down through the different types of lenders.
Big Five Banks
Canada have five world class banks that essenti...
Credit Unions in CanadaMore than a third of Canadians are enrolled in a
Credit Union. This means that Canadians are the highest users per capita of Credit Unions in North America.
What is a Credit Union?
Credit unions are financial institutions owned and ...
Power of SaleWhen a bank or other financial institution loans money to buy a house through a mortgage it is allowed to repossess the house if the borrower defaults and sell it on without going to court. This right is called the
power of sale.
How often is ...
Discount Brokerages in CanadaShould you go for a
discount brokerage? One of the most important factors in the growth of anyone’s stock portfolio is not immediately obvious. This factor are the amount of charges that you pay over the years.
Dealing costs – the hidden fact...
Canadian Bankers AssociationThe
Canadian Bankers Association represents Canada’s chartered banks, with fifty members. Its membership includes domestic chartered banks and Canadian branches and subsidiaries of foreign bank. This includes most of the largest banks in Canada. ...
Royal Canadian MintThe
Royal Canadian Mint produces all of Canada’s coins as well as the coins of a number of other countries. It is one of Canada's Top 100 Employers. It’s often abbreviated as RCM, and is known in French as the Monnaie Royale Canadienne.
What...
Canada Pension Plan - CPPThe
Canada Pension Plan (CPP) is major part of Canada's public retirement income system. It is an earnings-related and contributions based, state backed pension scheme.
The other components of Canada's retirement system are:
- The state pa...
Secured Credit CardsWith a
secured credit card you can get the convenience and flexibility of a credit card with a far lower risk of rejection.
How do most credit cards work
Standard credit cards are unsecured. This means that if a borrower doesn’t pay...
Canada Mortgage and Housing CorporationThe
Canada Mortgage and Housing Corporation (CMHC) is a Federal government agency that specializes in housing and provides mortgage insurance, mortgage-backed securities, social housing programs and conducts research on housing.
Structure of the...
Canadian DollarThe
Canadian Dollar is the official currency of Canada. It is often known as the “loonie” or “buck” and has recently gained favour with foreign exchange traders as Canada’s prudent government and resource backed economy have made the dollar a more ...
Canada Student Loans ProgramThe
Canada Student Loans Program is a program funded by the federal government to help students pay towards their education. The Canada Student Loans Program is not the only student loan program as many provinces run their own student loan schemes,...
Registered Retirement Savings Plan (RRSP)The
Registered Retirement Savings Plan, abbreviated to
RRSP, is by far the most common retirement savings account in Canada.
The Registered Retirement Savings Plan is a long term savings vehicle, whose main purpose is to enable the pensio...
Tax Free Savings Accounts (TFSA)Tax Free Savings Accounts (abbreviated to
TFSA) are special investment accounts designed to make saving more tax efficient. Tax Free Savings Accounts were introduced by the federal Finance Minister, Jim Flaherty in 2008, and came into effec...
Toronto Stock ExchangeThe
Toronto Stock Exchange (abbreviated to
TSX) is the leading stock exchange in Canada. Its focus is on trading senior equities (stocks) although more exotic investments are traded. As well as being Canada's largest stock exchange it is a...
Canadian Mutual FundsMutual funds are among the most popular personal investment tools in Canada, as they are offered by all of the country’s “big five”
banks - the Bank of Nova S...
Secured Loans in CanadaSecured loans refer to larger amounts of borrowed money that are secured by collateral. Secured loans are preferred by creditors because they give greater security than unsecured ones. Lenders have guarantees that if borrowers default on their loan...
Unsecured Loans in CanadaUnsecured loan or signature loan is a borrowing that doesn’t have collateral. Most banking and financial institutions in Canada offer unsecured loans. Unlike secured loans which are granted against security (car or real estate), banks extend unsecu...
Online BankingIn our age of global communications and connectivity,
online banking has become a solution of utmost importance to businessmen and big corporations alike. Below are discussed the online banking solutions offered by the five biggest banks in Canada,...
RefinancingLet us suppose that you are a person who is paying off a mortgage, but you have just signed a four-year lease contract for the brand new car you’ve always wanted to have; in addition, you have bought a brand new home entertainment system with a big flat s...
Visa Credit CardAs well as operating many of Canada’s credit and debit cards, the
VISA International Service Association, shortened to VISA, is the world’s largest processor of payment cards. VISA was the first credit card provider to penetrate the Canadian market...
MasterCardMasterCard is the company that processes many of Canada’s credit and debit cards. Payment processors like MasterCard allow money s to travel between a consumer with one bank and a seller with another bank.
Credit cards would be far less usable...
American Express Credit CardAmerican Express is well known as one of the pioneers in providing payment cards. They are best known for their charge card, but are one of the larger suppliers of credit and debit cards.
American Express was originally a New England express ma...
How to Clear Credit Card Fraud From Credit Reports?Credit card fraud is a term used to describe any instance of unauthorized use of someone else's credit eligibility to purchase goods and services in favour of a third party. And while for a handful of crooks credit card fraud may be a prosperous bu...
How to Get a Mortgage That Saves You MoneyGetting the best mortgage rates is simpler than it has ever been. A few hours of work can save thousands of pounds before tax; even a few minutes with a mortgage calculator can save a large amount of money on mortgage rates. A mortgage refinance ...
How to Consolidate All DebtsDebt consolidation is the taking out of a loan for the purpose of paying many others. In doing so, a consumer can often secure a lower, fixed interest rate and enjoy the convenience of servicing one loan only.
Debt consolidation typically, thou...
What Are the Benefits of Debt SettlementDebt settlement refers to a legal process through which creditors agree to accept less money than the borrower owes them. Debts that can be settled include unsecured business credit cards and lines of credit, unsecured loans and personal lines of c...
How to Compare Debt Consolidation vs. BankruptcyDebt consolidation is an act of combining multiple loans into a single loan by means of borrowing a new loan at a lower interest rate.
Bankruptcy, on the other hand, involves clearing one’s debts in case the borrower cannot repay them.
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How to do a Personal Budget Preparing a budget is a great way to manage your personal finances. Many people feel that they may not need a budget; however having one will lead to greater financial stability no matter if you feel you do not make enough money to budget. Making a...
How to Get a Good Rate When RefinancingThe very fact that you are shopping around for
home refinancing options means that the mortgage plan that you have picked up no longer suits you or that you could have been more selective when choosing your mortgage lender. Either way, this guide s...
How to Pay a 30 Year Mortgage in 10 YearsYou may find it surprising that it is actually possible to cut the pay-off term of a
thirty-year mortgage by one third or more. Moreover, it is possible to do this without any refinancing, higher monthly expenses or signing up for a debt consolida...
What's the Advantage of Making Extra Mortgage PaymentsThe
advantage of making extra mortgage payment seems rather straightforward – every payment that you make on your mortgage helps you cut down the term of your mortgage and save thousands of dollars on interest rates. Experts have calculated that ju...
How Does Foreclosure Work in CanadaForeclosures in Canada work differently from places like the United States of America or any other country that allows the owner to hand over the property to the lender. Instead, the lender does not take responsibility for resolving the debt becaus...
What Happens When Bank Accounts Are GarnishedA
“garnishment” is a court order involving three parties that aims at recovering money owed by one person through collecting what someone else owes him or her. Simply put, if you owe someone and another person owes you, your creditor can seek to re...
Can You Do Debt Consolidation YourselfDebt consolidation should be considered the last resort option, with the worst case scenario being filing for
bankruptcy. The process involves accum...
How to Choose a Debt Settlement CompanyFor many people who are drowning in debt, the services of a
debt settlement company may come as a solution, but there might be some risks involved. With hundreds and thousands of people burdened by credit card debt, many con artists are also coming...