Plain-language guides to credit, lending, and the markets, written by working credit professionals and reviewed for accuracy.
8 articles
Mortgage underwriting typically takes 25 to 45 days in Canada; auto loans close in days, business loans in weeks. Here are the timelines and delays.
No. APR includes interest plus fees expressed annually; interest rate is just the borrowing cost. Here is how they differ and why APR is a better cost compass.
FHA loans accept scores as low as 580; conventional mortgages need 620; jumbo loans 700+. Here is the minimum score for each US mortgage program.
Private credit is direct lending by non-bank funds to mid-sized companies. Here is how it works, why it has grown 17x since 2009, and what risks to watch.
Underwriting is a lender's risk assessment that decides whether to fund a loan, at what rate, and on what terms. Here is how it works and the 5 Cs of credit.
Interest rates fall when the Federal Reserve cuts the federal funds rate, usually after inflation cools and jobs slow. Here are the signals to watch.
A good credit score in Canada is 660 or higher on the 300-900 Equifax and TransUnion scale. Here's what counts as good and how to reach it.
The max credit score is 850 on the US FICO scale and 900 on the Canadian Equifax and TransUnion scale. Here's what those numbers mean and how rare they are.