The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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Assiniboine Credit Union Review: Another Option for Banking In Winnipeg Dec 10th
Canada’s credit unions have long been known for their customer service and commitment to the local community. Unfortunately, they haven’t always been competitive in the range of banking products and services they offer compared with the big banks. But times are changing, and today, digital techn.... More »
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Hong-Kong-based executives of the Canada Pension Plan Investment Board first approached officials at Postal Savings Bank of China in 2013 with a view to invest. Two years later, the CPPIB pulled off a deal that would see it invest US$500 million in the company, one of China’s biggest retail ba.... More »
TSX tumbles 247 points despite big profits at big banks Feb 25th
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The best high-interest savings accounts in Canada for 2024 May 3rd
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The best high-interest savings accounts in Canada for 2024
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Self Employed Mortgages: How to Qualify
– ratesupermarket.ca
There are a lot of advantages to being self-employed. For one, you’re the boss, so you can decide how much – or how little – you want to work each day. And, if your business takes off, you’re the one who reaps all the benefits. But there are some downsides. One of the most notable is how difficult it can be for self-employed people to qualify for mortgages. Here we look at some of the reasons why, and provide some tips to improve your chances.
Inconsistent Income
The main reason banks have traditionally been reluctant to loan money to the self-employed is uncertainty. A busy retail shop may gross tens of thousands of dollars in the months leading up to Christmas, but then have income dry up to next to nothing for weeks or months after that. Bankers like to see the numbers in black and white, ideally in the form of ink printed on a bi-weekly paystub.
(That said, I’ve often noted that as freelance writer and editor, I have way more job security than any of my friends and colleagues with fulltime staff positions at magazines and newspapers…
Self Employed Mortgages: How to Qualify
– ratesupermarket.ca
There are a lot of advantages to being self-employed. For one, you’re the boss, so you can decide how much – or how little – you want to work each day. And, if your business takes off, you’re the one who reaps all the benefits. But there are some downsides. One of the most notable is how difficult it can be for self-employed people to qualify for mortgages. Here we look at some of the reasons why, and provide some tips to improve your chances.
Inconsistent Income
The main reason banks have traditionally been reluctant to loan money to the self-employed is uncertainty. A busy retail shop may gross tens of thousands of dollars in the months leading up to Christmas, but then have income dry up to next to nothing for weeks or months after that. Bankers like to see the numbers in black and white, ideally in the form of ink printed on a bi-weekly paystub.
(That said, I’ve often noted that as freelance writer and editor, I have way more job security than any of my friends and colleagues with fulltime staff positions at magazines and newspapers…
