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BHM FINANCIAL GROUP
BHM FINANCIAL GROUP
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  • Tricks on how to use collateral to secure small business loans
    Starting a business requires capital and sometimes it become difficult for one to access loan from financial institutions. That’s where assets come in and you can use them as collateral in order for you to secure financing. Whether it’s a startup or existing business, you will require money to expand and grow your business. When seeking for a loan, the lender will first of all determine your repay...
  • Types of loans;
    A loan refers to a certain amount of cash borrowed with promise to repay back the amount as a whole or in installments over a period of time with accrued interest. The amount of loan borrowed will depend with the needs of the borrower, his income, interest rates to be paid, debt and credit history among others. In the financial markets, loans are broadly categorized either as; Open-ended loans or ...
  • Credit score and how it is calculated in Canada
    Often, many people don’t understand the meaning of credit score. Credit score refers to a specific number given to you after analysis of your specific information given concerning your credit report. A credit report is a document showing in brief all your history in regards to paying your financial obligations. The credit score is used by lenders to determine your loan repayment potential based on...
  • FICO Score, How It Is Calculated and What You Can Do To Improve It
    The word FICO stands for an acronym of the company that invented the credit score popularly known as Fair Isaac Company. FICO credit score contributes to a greater extend in determining a borrower’s credit FICO score and lenders use the provided details in the credit report to assess the  credit risk potential of a given borrower. FICO gives a summary of your loan repayment or default history. Res...
  • Contrast between Secured Loans and Unsecured Loans
    A loan can be said to be money borrowed from a bank or an individual with a promise to pay it back. Loans can be backed by assets (secured) or not (unsecured) which forms the basis of the difference between secured and unsecured loans. Secured loans This are loans where the lender requires the borrower to provide asset such as, car, house or land to act as collateral for the loan. Collaterals act ...
  • New lending rules to pose challenges to first-time home buyers
    The decision by federal government to tighten mortgage lending rules will have a direct impact on first-time home buyers in Ottawa, Canada.  The new lending rules will set a limit on the amount that many Canadians can borrow to ensure that they can be able to make their payments when mortgage interest rate rises. According to Frank Napolitano, a managing partner at Mortgage Brokers Ottawa, the new...
  • Getting Divorced? Do Not Ignore Your Credit Score (and How to Rebuild it if You Did)
    Credit scores are one of the most critical finances pieces of recovering financially from a divorce. Credit scores are also one of the most overlooked pieces of post-divorce. How credit scores are big problems for people facing divorce? Your credit scores can take a big hit when you divorce, usually for one of these three reasons: The first reason is that your income may drop and/or your expenses ...
  • Essential Mortgage Rule That You Must Know
    Taking a mortgage is something that we opt to do as we strive to achieve long term investment. More and more individuals apply for mortgages everyday but rarely do they know what that translates into their lives. This article will give insights about mortgages and how to go about it. A mortgage refers to a loan given by the lender to a borrower with an aim buying a property such as home. In order ...
BHM FINANCIAL GROUP
BHM FINANCIAL GROUP
Blog Article
BHM FINANCIAL GROUP
BHM FINANCIAL GROUP
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