Fixed versus variable mortgages


One of the first things that you’ll notice when you start shopping for a mortgage is all the options that you have. It’s a good idea to have a trusted broker to help you look into all the different products and variables there are, but in the end it’s also your responsibility to make sure you’ve done some homework yourself. Starting out by researching the fundamentals is a good idea and there’s no better place to begin than by … [Read more...]

A few great reasons why you need to use a mortgage broker

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In today’s world everyone is always on the move and there’s less and less time to get things wrong the first time around and have to go back and do them all over again. The bigger and more important the goods or services you’re looking at, the truer this is and when you consider buying a home is probably the biggest purchase you’ll ever make, the need for getting the financing right with a professional mortgage broker is … [Read more...]

Children and youth learn responsible banking through credit unions


Financial planners stress that it is important for children to learn the value of money and responsible banking. In fact, many experts encourage parents to open a bank account for their children as soon as possible and to actively involve them in the management of their money – whether it is an allowance or birthday cheque from their grandparents. The Canadian Bankers Association states: “Parents play a big role in the financial education of … [Read more...]

Understanding those hidden costs of buying a home


Buying a home is one of the biggest things you’ll ever do. You’ve more than likely heard that by now, but the whole process is one of the most informative and satisfying you’ll have. Getting to know all about the different legal and other aspects including what are called hidden costs will help you to plan your finances accordingly so there will be no surprises. To get going, you’ll need a lawyer. Lending institutions require that you … [Read more...]

Compare and save with a credit union – the difference will surprise you


Fees are the top complaint that Canadians have about their bank or financial institution. Whether it is fees charged on a savings account, credit card or for accessing an Automated Teller Machine (ATM), Canadians are fed-up with being gouged by their local bank. But despite the anger, many Canadians are unsure where to turn for a viable alternative that will allow them to save money when banking. The Education Credit Union based in Waterloo … [Read more...]

Tips on improving your credit score

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Your credit score is one of three major factors banks review when deciding to approve or decline your mortgage loan application. The primary reflection of your current credit status is your credit score, or more commonly known as your beacon score. Your beacon score, which fluctuates and is based on several key factors, plays a major role in determining if you get approved for the mortgage loan and if you are eligible for the best available … [Read more...]

Credit union’s offer innovative banking solutions


Public surveys show that a growing number of Canadians are dissatisfied with the bank they use. Whether it is high fees, inconvenience, or poor customer service, many people want more from the financial institution they entrust with their money and investments. But most people are unsure where to turn. They would seek out an alternative to the bank they use if only they knew where to look. The Education Credit Union (ECU) is a full-service … [Read more...]