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GOOD DEBT, BAD DEBT AND EVERYTHING IN BETWEEN:

how to borrow smartly ACCESS TO CREDIT IS AN ONGOING NEED FOR CANADIANS

as they navigate through expenses that range from the unexpected to buying a house. In fact, a recent TD Canada Trust survey found the top three credit options used by most Canadians within the past five years are bank-issued credit cards (92 per cent), department store cards (48 per cent) and mortgages (42 per cent). TD Canada Trust’s Farhaneh Haque, director of mortgage advice, and Stephen Menon, associate vice-president of credit cards, have teamed up to outline the popular credit products available and Experience the Quality Value ofborrow a ParkLane Home! provide Canadians with and tips on how to responsibly. CREDIT CARDS According to the survey, credit cards are the most 3244 More Charleston Dr. - Ridgeway widely used personal credit product. Canadians applied for a Off Barrington or Dominion take QEW exit at credit card in the past year (29 per cent) than any other personal Sodom Road - take Rt. 116 to Ridgeway. credit product. Two-thirds of CanadiansOPEN (66 per cent) agree that HOUSE setting up pre-authorized bill payments on & a travel rewards credit SATURDAY SUNDAY 1 - 5pm card is a good way to maximize the travel rewards earned and manage your finances. “When used correctly, credit cards can help manage and track Visit our remarkable 1485 sq. ft. bungalow in beautiful Ridgeway; your spending and build your credit history,” says Menon.

Niagara’s Best Value only $287,000.

a quiet, peaceful community in Niagara. This home has 3 bedrooms, 3 bathrooms, a 2-way gas fireplace, plus a finished family room in the lower level.

HOME EQUITY LINE OF CREDIT Seven in 10 Canadians (70 per cent) say they have never used a home equity line of credit, even though 82 per cent correctly believe that a home equity line of credit can be a lower-cost option than a personal loan for financing a home renovation. “Many homeowners have the option to use the equity they’ve already built in their homes to finance upgrades which may improve their home’s resale value,” says Haque. “A Home Equity Line of Credit could allow you to use up to 65 per cent of the lesser of the appraised value or purchase price of your home, with a lower interest rate than most alternative forms of unsecured credit.” MORTGAGES The majority of Canadians think a mortgage is “good” debt (88 per cent) and understand that weekly mortgage payments, versus monthly, will help reduce the mortgage amortization period (84 per cent).

Call Ed at 905.651.8857 to view this home today!

30 day closings available

PARK L ANE H O M E

BU I L DE R S

Quality Built for Generations of Living Since 1989!

905.685.0688 | www.parklanehomebuilders.com

Quality Built for Generations of Living

905-685-0688

PARKLANEHOMEBUILDERS.COM

STEVENSVILLE WEST MAIN

EAST MAIN

GARRISON VILLAGE

VILLAGE CREEK

CONCESSION RD

Model Open every Saturday & Sunday 1-5pm

LYON CREEK

Prices starting from $250,000

FORT ERIE >

SODOM

< TORONTO

SINGLES AND TOWNS AVAILABLE

ALBANY

HWY 3 NORTH RIDGE MEADOWS

58 NEW HOME & CONDO GUIDE SWO | MAY 11 - 25, 2013

058 HALF PAGE News TD Credit-VB-WK.indd 58

5/9/13 2:44:21 PM

Southwestern Ontario New Home and Condo Guide - May 11, 2013  

A Wall2Wall Publication

Southwestern Ontario New Home and Condo Guide - May 11, 2013  

A Wall2Wall Publication