CFFBank EASYONE account (Line of Credit and High Interest Saving Account all-in-one)
CFF Bank EASYONE account with high interest savings rate is packaged as all-in-one banking solution. This account offers customers the ability to take advantage of both an unsecured line of credit and high interest savings with one simple, no-fee account
Transfer higher interest credit card balances
Pay for your next home renovation
Increase your savings
Pay for a vacation
Reduce interest you pay
Manage your cash flow
As a partner with CFF Bank, Im now able to offer you exclusive banking products available through CFF Bank!
I encourage you to open the new CFF Bank EASYONE Account. This no-fee account offers up to $25,000* in credit. And now for a limited time** you can take advantage of the following:
Up to 120 days NO INTEREST on the Line of Credit portion of your account
3% BONUS RATE on the Savings portion of your account for maximum savings
CFF Bank EASYONE Account Features:
Unsecured Line of Credit
High Interest Savings Account
Access Funds Online or by Telephone Banking
CFF Bank EASYONE Account Benefits Unsecured Line of Credit:
Rate of interest is lower than a traditional credit card
Access to credit whenever its needed
Reduce interest owing with any deposits made to the account
Pay interest only when the account is used
High Interest Savings Account:
Earn high interest when borrowings are paid off
Unlimited transfers to pre-authorized account
Higher interest rate than most banks
Total flexibility not locked-in
A great way to make your savings work harder
Access Funds Online or by Telephone Banking:
Logon to online banking at www.CFFBank.ca
Or email email@example.com for any questions
CFF Bank is a 100% Canadian owned Schedule I bank and a member of Canada Deposit Insurance Corporation (CDIC)
Sign up today! Call me now at613-627-1041
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*Some conditions apply.
**This is a limited time offer on all deals funded before April 30, 2015. Rate of 3% inclusive, and subject to change without notice
A good credit report and credit score are important factors in determining whether or not you will be approved for a mortgage. Here are some simple steps you can take to maintain a good credit history, and improve your chances of being approved.
What is a Credit Score
Your credit score is a number that illustrates your financial health at a specific point in time. It also serves as an indicator of your financial past, and how consistently you pay off your bills and debts. This is one of the factors mortgage professionals consider in qualifying you for a mortgage.
How to Check Your Credit Score
To find out your credit score, contact Canadas two credit-reporting agencies: Equifax Canada at www.equifax.ca and TransUnion Canada at www.transunion.ca. For a fee, these agencies will provide you with an online copy of your credit score as well as a credit report a detailed summary of your credit history, employment history and personal financial information on file. You can also obtain a free copy of your credit report by mail. If you find any errors in your report, notify the credit-reporting agency and the organization responsible for the inaccuracy immediately.
If You Do Not Have a Credit Score
Its important to begin building a credit history as early as possible. You can begin to build one by applying for and responsibly using a credit card. Your financial institution or mortgage professional can help.
How to Improve Your Credit Score
Demonstrating your ability to manage credit is key to maintaining a good credit score. There are a number of things you can do to improve your credit score. These include: Always pay your bills in full and on time. If you cannot pay the full amount, try to pay at least the required minimum shown on your monthly statement. Pay off your debts (such as loans, credit cards, lines of credit, etc.) as quickly as possible. Never go over the limit on your credit cards, and try to keep your balances well below the limits. Reduce the number of credit card or loan applications you make. Once your credit score has improved, work with your mortgage professional to obtain a mortgage that works for you.
Find Out More
To find out more about credit scores and reports, visit the Financial Consumer Agency of Canada website and download or request a free copy of their guide, Understanding Your Credit Report and Credit Score. This guide provides practical, straightforward information on how to obtain and understand your credit report and score, as well as how to build and maintain a good credit history.
CMHC’s 2017 Mortgage Consumer Survey
In March 2017, CMHC completed an online survey of 3,002 recent mortgage consumers, all prime household decision-makers who had undertaken a mortgage transaction in the past 12 months. Sixty-five percent had undergone a mortgage renewal, 15% had refinanced their mortgage, and 20% had purchased a home with mortgage financing (11% First-Time Buyers and 9% Repeat Buyers). CMHC has conducted this survey since 1999. It is the largest and most comprehensive survey of its kind in Canada.
The Home Buying Process
Sixty-four percent of First-Time Buyers indicated they were renting before purchasing, and 34% lived with family.
Wanting to buy their first home (37%) and feeling financially ready (31%) were the most important reasons First-Time Buyers gave for purchasing a home in the past year. Low interest rates was the most important reason noted by Repeat Buyers at 33%.
Fifty-three percent of buyers were aware of the latest mortgage qualification changes, and 19% noted that it impacted their purchase decision. For example, 11% of buyers said they increased their down payment, 6% purchased a smaller home, 5% purchased in a dfferent location, and 3% delayed their purchase.
Buyers interact with a wide variety of people, and are most likely to consult a real estate agent (72%), or look to a family member or mortgage lender for advice (both at 57%). Forty-one percent reported interacting with a mortgage broker. Of all interactions, real estate agents were noted as most valuable.
Seventy-one percent of First-Time Buyers accessed savings for their down payment, while 18% received a gift from a family member.
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