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How to Build Your Credit Rating Without Getting a Credit Card

Posted onJuly 17/2018By

Studies project that one out of every three millennials will never own a home. The projections indicate that this population segment of millennials will still be renting apartments or housing when they retire. Housing prices are soaring, which means that the sizes of a potential deposit are soaring as well, and the cost to rent a home or apartment is spiralling out of control. Millennials, the generation typically defined as the people born between the 1980s and the late 1990s, don’t have the economic means to enter the real estate market. Even more troubling, an alarming number of millennials have a poor credit score — or no credit rating at all. This can add yet another barrier to potential homeowners. Some millennials have poor credit scores even though they are consistently making monthly rent payments. An Explanation of Credit Ratings A credit rating, in its simplest definition, is a number…

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7 Mortgage Facts You Need to Know

Posted onJuly 10/2018By

When it comes to your first mortgage in Toronto, there are many other costs and expenses that arise which are above your monthly mortgage payment. There are a number of one-time, hidden expenses referred to as “closing costs” that your mortgage experts should inform you of so you are fully prepared. Many potential home buyers are blindsided by a number of things that come their way when buying a home, but you don’t need to be one of them. To help you navigate the world of mortgages, here a few fundamental key points about the mortgage industry such as APR, rapidly fluctuating mortgage rates, refinancing, and low down-payment mortgage loans. It’s a lot to take in, and these seven mortgage facts might just give you the advantage you need when shopping for your perfect home, or looking to refinance your mortgage. Fact 1: APR is an acronym for “annual percentage…

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