Category Archives: Difficulté de crédit

Your mortgage renewal could reduce your debts.

Monday April 9th, 2018

Your mortgage renewal could reduce your debts.

A car financed at 5%, a line of credit at 9%, credit cards at 19%… Have you ever made a comprehensive list of your current debts?  Many Quebeckers prioritize paying off their mortgage, which is only natural. No one likes big debts. But, ask yourself, is it the most logical way to proceed if you […]
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Is it smart to use part of my RRSP’s to pay down debts so I can become a homeowner?

Monday March 19th, 2018

Is it smart to use part of my RRSP’s to pay down debts so I can become a homeowner?

Marie-Pierre decided to buy a nice home in the suburbs.  However, when she applied for a loan with her financial institution, she was refused.  They explained to her that she was already carrying too many debts and fixed monthly payments to qualify for a mortgage. Later that night she met up with some friends and told […]
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How to find out about your credit rating.

Monday September 11th, 2017

How to find out about your credit rating.

There are essentially two private credit rating firms that produce credit scores which the banks will consider while analyzing your mortgage application. The most well known is Equifax, the other one is Trans-Union. They gather and process the following information: The current monthly balance on your credit cards, lines of credit, car loans, furniture loans, […]
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Debt consolidation via a mortgage

Monday May 29th, 2017

Debt consolidation via a mortgage

Debt consolidation consists in borrowing a single amount of money with a financial institution to pay all of your debts. This way, you end up with a single payment which greatly facilitates the management of your finances. In addition to streamlining your debts into a single payment, a consolidation loan can offer an interest rate […]
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Is my mortgage renewal the ideal opportunity to look at restructuring my mortgage?

Monday May 8th, 2017

Is my mortgage renewal the ideal opportunity to look at restructuring my mortgage?

The answer to this question depends on your future projects and your current level of debt. In a nutshell, if you already have credit card debts, a line of credit, a personal or car loan, or a high-interest furniture loan, and if these debts are costing you more in interest than your mortgage will, then, […]
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Don’t let a new car ruin your dream of home ownership!

Monday April 3rd, 2017

Don’t let a new car ruin your dream of home ownership!

Vanessa and Julien decided  it was time to leave their apartment and buy a house. They are excited about becoming home owners.  Bye-bye rent! Following the advice of some friends, they secured a pre-approved mortgage before beginning their house hunting for a new home. With a solid pre-approval  in hand, they find their dream home.  […]
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Is my mortgage renewal the ideal opportunity to look at restructuring my mortgage?

Monday April 11th, 2016

Is my mortgage renewal the ideal opportunity to look at restructuring my mortgage?

The answer to this question depends on your future projects and your current level of debt. In a nutshell, if you already have credit card debts, a line of credit, a personal or car loan, or a high-interest furniture loan, and if these debts are costing you more in interest than your mortgage will, then, […]
Read more

Don’t let a new car ruin your dream of home ownership!

Monday January 25th, 2016

Don’t let a new car ruin your dream of home ownership!

Vanessa and Julien decided  it was time to leave their apartment and buy a house. They are excited about becoming home owners.  Bye-bye rent! Following the advice of some friends, they secured a pre-approved mortgage before beginning their house hunting for a new home. With a solid pre-approval  in hand, they find their dream home.  […]
Read more

Debt consolidation via a mortgage

Monday January 4th, 2016

Debt consolidation via a mortgage

Debt consolidation consists in borrowing a single amount of money with a financial institution to pay all of your debts. This way, you end up with a single payment which greatly facilitates the management of your finances. In addition to streamlining your debts into a single payment, a consolidation loan can offer an interest rate […]
Read more
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