Income Tax Calculator for Individuals 2018
PWC Income Tax Calculator for Individuals works out your personal tax bill and marginal tax rates, no matter where you reside in Canada. Simply click on the year and enter your taxable income.
2018 Tax Calculator To calculate your tax bill and marginal tax rates click here 2018
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Broker vs Banker
You want it all: the best available rate with exactly the right features you need to live comfortably with your mortgage and pay if off in record time. If you want the perfect mortgage, you need to shop around. And that’s my strength. I offer access to over 50 of Canada’s leading lenders, including major banks, credit unions, and national, regional and private lenders. I do the research for you, finding you the best mortgage across multiple lenders.
Your bank, as great as they are with your day-to-day banking, may not be the best choice for your mortgage because they represent just one available lender. Access to lender choice is one difference between getting a mortgage from a Bank vs a Broker, here are more:
YOUR MORTGAGE BROKER YOUR BANK
MORTGAGE RATES Mortgage brokerages negotiate discounted rates with lenders, and have access to rate promotions and specials.Rates are set by the Bank. If there’s a better deal in the marketplace, you’ll have to find it yourself.
OBJECTIVITY Your Mortgage Broker works for you, not any one lender.Mortgage specialists are there to build business for the Bank.
SOLUTIONS Brokers have access to mortgages for the self-employed and those with past credit issues.It is difficult to get a mortgage for certain client situations.
COST The winning lender pays your Broker for the services and solution provided.Mortgage specialists are paid and incented by the Bank.
ONGOING SERVICE Brokers offer ongoing advice after your mortgage closes i.e. how to pay off your mortgage faster, power down debt, finance renovations or invest in property. There have been many regulatory changes, so it’s important to have access to a mortgage expert.No proactive ongoing advice is typically provided. You will get an annual mortgage statement.
AT RENEWAL Your Broker will go to bat for you again to make sure you have the best deal possible.You may not be offered the best deal initially, requiring you to proactively contact the Bank to negotiate.
Getting a mortgage is a very significant financial event. That’s why you want someone who is highly specialized in the mortgage marketplace and focused solely on your needs.
Get in touch for advice that is relevant to your situation.
30-year amortizations can be a smart financial strategy
If you have 20 per cent equity or more, you can choose a 30-year amortization mortgage. Homeowners with less than 20 per cent down are not eligible for an amortization over 25 years. A longer amortization allows you to minimize your mortgage payments and free up cash flow for uses like investing, business needs, post-secondary education, maternity leave, home maintenance, or other life situations. You can keep your payments at a shorter amortization and only use this flexibility if the need arises. Having a mortgage that gives you room to breathe may be worth the extra cost in interest, and I can help you determine if this is right for you.
Contact Broker Services at 1 844 940 5927 or Visit us online
How Your Credit Score is Calculated
Understanding how your credit score is calculated is a crucial step in improving your score. Your score is made up of five components:
1. Your Payment History (35%): the largest part of your score is made up of your payment history and if you have demonstrated that you can pay your debts on time.
2. How Much You Owe (30%): credit bureaus are looking for how much debt you already owe prior to applying for more credit.
3. The Length of your Credit History (15%): Even if you have managed your credit effectively from day one, if you have a shorter credit history this can also mean your credit score can be lower.
4. New Credit Card Applications (10%): While it is reasonable for a creditor or lender to be cautious of the frequency at which someone is applying for additional credit, there can also be instances when taking on new credit card applications can actually be beneficial.
5. Types of Credit (10%): By maintaining a diverse range of credit types - credit cards, lines of credit, a car loan, a mortgage - this can be an excellent way to demonstrate your ability to manage your debts as a whole.
To follow your credit score without a hit on your credit be sure to download the new app for PEI Business Federation and INVIS at http://mopolo.ca/ - Be sure to Check Paul Trainor as your broker and get notified of any changes and FREE monthly updates and Free property valuations!
FREE Monthly Credit Score - That won't affect your credit rating!
FREE Property Evaluation - With upgrades!
Personal Inventory Tracker, Credit Applications, Live Rates & More!
Keep informed on PEI Business news at PEI Business Federation.
902 940 5927
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