17 Jan

WHY SO MANY MORTGAGE DOCUMENTS?

General

Posted by: Darick Battaglia

Documents, documents and more documents. Yes that’s right you will need to provide your Dominion Lending Centres mortgage broker with as many documents that we request upfront as possible. Why? Because the more supporting documentation you have available will help us as brokers to find you your best mortgage options. If you don’t have everything […]

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16 Jan

2016 PROPERTY ASSESSMENTS VS. MARKET VALUE

General

Posted by: Darick Battaglia

SHORT VERSION: Do not rely on your provincial assessment for a fair market value of your property. The value printed on that document was arrived at during a time in the previous year, the market may have changed a bit since then, and not in the direction you might think. Do not rely entirely on the buyer’s opinion or […]

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13 Jan

NOW IS THE TIME TO GET PRE-APPROVED FOR YOUR MORTGAGE!

General

Posted by: Darick Battaglia

So 2016 was an exciting year in the mortgage world! The problem is that we mortgage professionals really hate it when things get exciting in our world. Between the economy and the federally mandated mortgage rule changes and their ensuing fallout, it is now more important than ever to get a solid pre-approval in place. […]

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12 Jan

STARTLING GAP BETWEEN THE LIFESTYLE EXPECTATION AND REALITY OF CANADIANS 40+

General

Posted by: Darick Battaglia

Over the last few years, we have seen many retired Canadians outliving their retirement savings and requiring a financial solution to help them live the rest of their retirement. In the media alone, there is a constant outpouring of articles relating to retirement planning, preparing enough savings for retirement, as well as numerous articles around […]

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11 Jan

5 COMMON MISTAKES TO AVOID WHEN SHOPPING FOR A MORTGAGE

General

Posted by: Darick Battaglia

Avoid these 5 common mistakes, and you will have no problem getting your mortgage faster, more efficiently, and with a clear understanding of the process: 1. Thinking banks are the first and best place to go for a mortgage Mortgage brokers can often beat the bank rates by using different lending institutions. The bank is […]

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10 Jan

HOME FINANCING SOLUTIONS – PURCHASE PLUS IMPROVEMENTS

General

Posted by: Darick Battaglia

Are you on the hunt for a new home but can’t find exactly what you are looking for? You’re not alone. House hunters experience this scenario every day. With real estate prices increasing you may not be able to buy your dream home the first go-round. Think about buying a fixer-upper. There are many potential […]

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9 Jan

HOW YOUR CREDIT SCORE AFFECTS YOUR PURCHASE PRICE

General

Posted by: Darick Battaglia

Your Credit Score that the lenders use, not to be mistaken by the Credit Risk Score you see when you check your own credit, is one aspect of determining your borrowing power. The better your score, the length of established credit and your payment history the better when it comes to mortgage financing. Let’s assume […]

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27 Dec

BREXIT

General

Posted by: Darick Battaglia

The decision by British voters to leave the European Union (EU) has shocked markets and will no doubt lead to continued uncertainty for an extended period. Stock markets around the world are reeling, the British pound has taken an unprecedented nosedive, commodity prices with the exception of gold are plunging and interest rates are falling […]

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12 Dec

MORTGAGE CHANGES – OH HOW TIMES HAVE CHANGED

General

Posted by: Darick Battaglia

With the recent changes to the mortgage rules in Canada, we take a moment to look back at the evolution of the mortgage, and to highlight these new changes and what they mean. LOOKING BACK BEFORE 2008 During this time, lending and mortgages were much more laid back! There was 100% financing available, 40 year amortizations, […]

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9 Dec

BE AWARE OF ALLOWABLE SOURCES OF DOWN PAYMENTS

General

Posted by: Darick Battaglia

In Winnipeg, MB, Jackson and Hailey have been living in a rental home for more than three years. They liked this rental home so much; they asked the landlord if they could buy this house. The landlord agreed to sell the property for $300,000 to Jackson and Hailey. On August 1, 2015, the landlord as “seller” […]

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