Home & Commercial Mortgage Services - Northwood Mortgage
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Why Refinancing Your Property May Help Pay off Your Mortgage Sooner

Posted onAugust 13/2018By

For most households in America, debt can be a major problem. This is especially true for people who have credit card debt on top of their mortgages, student loans, and car loans. The average household in the U.S. has more than fifteen thousand dollars in credit card debt. As of 2015, an average interest rate of more than 13% was paid on this debt. There are many credit cards that charge even higher interest rates for these high unpaid balances. Refinancing your mortgage is one way to help with managing debts, both of the secured and unsecured variety. When you refinance your property, you may be able to pay off your mortgage sooner. You may also be able to pay off outstanding credit card debt and make payments on any overdue bills. Refinancing to Lower Mortgage Rates Over the past few years, mortgage rates have been at historic lows. In…

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5 Ways Credit Rating Is Vital for Small Business Financing

Posted onAugust 06/2018By

The small business market is a highly competitive sector of the economy. Securing a favourable financing arrangement is an important factor in starting the business, and in continually growing the business. One thing your business should aim for is qualifying for an interest rate on the lower end of the spectrum. As well, consider the duration of the financing arrangement and the frequency of payments. Another significant aspect is whether the arrangement allows for intermittent lump sum payments, which can lower the term length of the loan. Whichever financing arrangement you choose, these five points below will help guide you to a better understanding of how credit rating is vital for small business financing. Get funding to grow During the process of setting up your small business financing, ensure that the total amount covers not only the expenses needed to start the business, but also expenses you are projected to…

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