Posted on
November 22/2021By
northwood
Nobody wants to be thought of as just a number, and of course, you are so much more. However, your credit score goes a long way to unlocking financial benefits such as the best rates for loans and credit cards. Unfortunately, if you’re not careful, you could hurt your credit score without realizing it. While it might not impact your day-to-day life, when you want to buy your dream car or need a mortgage, you’ll understand how important your credit score is. 7 Mistakes That Can Hurt Your Credit Score We are creatures of habit, but not all of our…
Posted on
November 16/2021By
northwood
Your home is one of your best and biggest assets. However, if you want to access the equity you’ve built up in your property, what is the right way to do it? You may have heard about Home Equity Lines of Credit (HELOC), but are unsure what they are. You may also be wondering if a second mortgage on your home is the best way to use your equity. Let’s look at what each of these mortgage products are and the benefits they offer. HELOC A Home Equity Line of Credit is similar to other lines of credit in that…
Posted on
November 10/2021By
northwood
For homeowners wanting to benefit from all the equity they’ve built up in their homes, using it to pay off debt can seem like a perfect solution. Still, it’s important to know what is involved in using your home equity to pay off debt. What is home equity? Home equity refers to the difference between what you owe on your mortgage and the value of your home. For example, if your home is worth $450,000 and you have $200,000 left to pay on your mortgage, then you have $250,000 in home equity. Whenever you pay down your mortgage, the equity…
Posted on
November 05/2021By
northwood
Being a landlord is one of the best side hustles you can find. With the demand for residential properties continuing to rise, you can’t go wrong by investing in a rental property in Ontario. In this blog post, we’ll tell you where to find the best one for you. Investment Strategies for Ontario Rental Properties There are different approaches you can take to rental property investment, including: Buy and hold. With this strategy, you buy a property to rent out. Using the rent that tenants offer, you’ll be able to pay off the mortgage. This sets you up to benefit…
Posted on
October 25/2021By
northwood
Even with a global pandemic, Canadians are continuing to improve their living spaces with renovations and remodels. A recent study found that about half of all homeowners have already done or are planning renovations to their homes. If you’re in the reno mood, here are some changes you can make to your home to boost your equity and your property’s resale value. 1. Replace your garage door Improve your curb appeal by enhancing the exterior of your home and swapping out your garage door. Go for a more robust, durable, and modern look. 2. Stone veneer Manufactured stone veneer is…
