Every mortgage is unique. Would the advertised/online RATE work for everybody? It’s hard to say, until your documents fulfill all the conditions for that rate. Sometimes there are challenges to getting the approval of the mortgage. Dominion Lending Centres mortgage professionals try their best to find solutions to those challenges because they have a business relationship […]

If you’re finding your family has grown out of your current home or your house could use a makeover to better fit your changing needs, renovating is a great option to examine. Instead of putting your home on the selling block and heading out shopping for a new home right away, it may be worth […]

Despite headline-grabbing stories about million-dollar houses pushing home ownership out of reach in Canada’s large cities, there’s still plenty of opportunity for first-time buyers in certain segments of the Canadian real estate market, says Dominion Lending Centres Chief Economist Sherry Cooper. Single-family home prices have been surging in cities like Toronto and Vancouver, but that’s […]

In a nutshell, a CHIP mortgage or “reverse” mortgage is a mortgage that is secured by the client’s principal residence and as long as one of the client’s lives in the house, it never has to be repaid, not even the interest. “CHIP” stands for “Canadian Home Income Plan” by the way; however the lender […]

It is matter of fact that life can be much unexpected. Perhaps you have been hit hard by this economic downturn or maybe an illness or even just plain old mismanagement has left you with a series of late payments on your credit. No use crying over spilt milk so to speak. So, let’s look at […]

The true cost of mortgage penalties is a common concern and complaint among homeowners so it seems reasonable to review it once again. Due to the sometimes complex calculations the banks use to determine this amount – consumers have been left in the dark when trying to make a decision on whether the cost of […]

I’ve actually had clients ask me that question! The business of life often gets in the way and we don’t always do our homework when it comes to our financial obligations. Before they know it, clients start getting e-mails from their lender and their broker reminding them that it’s time to renew their mortgage… “Wow, […]

When shopping for a mortgage, many home buyers enlist the services of a Mortgage Professional. There are several benefits to using a Mortgage Broker and I have compiled a list of the top 8: 1. Saves you time – Mortgage Brokers have access to multiple lenders (over 50!). They work with lenders you have heard of and lenders […]

Each year from 2008 through 2010 the Federal Government reduced the maximum amortization as follows: Purchases with less than 20% down –from 40–35 years, then 35- 30 and finally 30–25 years where it remains today. Purchases with 20% or more down were cut from 40–35 years, and then from 35 – 30 (*certain lenders still […]

A private mortgage can improve your financial well-being and using a reputable mortgage agent/broker will advise when it is suitable for your circumstances to enter into a private mortgage. Your mortgage agent will also advise a financial action plan to refinance you down the road to return to the prime lending marketplace. Here are the […]