Author: Muriel Schmidt

In general, a credit score of at least 620 will get you a basic home equity line of credit. However, individuals with higher credit scores will be able to get more from their loans. Most lenders also require a total loan-to-value ratio of 80% or less and a low debt-to-income ratio. What credit score is […]

You can also use this line of credit even if you don’t currently own a home. Whether you’re looking at purchasing a primary or secondary residence, there are pros and cons to buying with a home equity line of credit as opposed to a traditional mortgage. Can you use funds from a HELOC to buy […]

Getting a home equity line of credit ( HELOC ) A HELOC works much like a regular line of credit. Getting a reverse mortgage. A reverse mortgage allows you to borrow up to 55% of the value of your home. Borrowing on amounts you prepaid. You may be able to re-borrow money that you prepaid.

Residential Tenancies Act (RTA) In Ontario, landlords cannot prevent tenants from owning pets. Under section 14 of the Act, leases cannot include a “no pets” provision, and if they do, that section of the lease is void. This means that “no-pet” rules would not apply, and an ESA is permitted. Do landlords have to allow […]

Standard mattress measurements varies from country to country, but in Canada there are 6 main sizes that you’ll find from almost every manufacturer: Twin (also called Single), Twin XL, Full (also called Double), Queen, standard King, and California King. Are Canadian beds smaller? No, different countries will have slightly different sizes for mattresses of the […]

As of April, 1985, under Section 15(2) of the Canadian Charter of Rights and Freedoms, special programs or affirmative action programs are considered legal. Is affirmative action allowed in Canada? Affirmative action programs are constitutionally protected in Canada under section 15(2) of the Charter. Is there affirmative action in Canadian universities? Canada and the United […]

Can My Dog Be a Service Dog? There is no restriction of size, breed or age for a service dog. Once the following two requirements are met (the owner has a disability and dog is trained to assist the person) the owner and the service dog may not be denied access to any public facility. […]

Sales taxes. This tax is based on a percentage of the retail price, a method known as ad valorem. The federal GST/HST is charged on crude oil, refining and marketing costs and margins, the federal excise tax, applicable federal and provincial carbon levies, and provincial road taxes. What is not taxed in Canada? compensation received […]

What is Canada RIT on bank statement? If you see the label Canada RIT in your bank account, it means that the Canada Revenue Agency (CRA) has sent you a tax refund on your tax filings and has estimated that you have overpaid in income taxes. Since this is a refund, the amount you receive […]

Know your rights and obligations under the Employment Standards Act ( ESA ). This guide describes the rules about minimum wage, hours of work limits, termination of employment, public holidays, pregnancy and parental leave, severance pay, vacation and more. How do I get an ESA in Canada? To get an emotional support animal in Canada, […]