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. I am not just speaking to first time home owners either! Before you list your current home or refinance your mortgage or consider buying a rental, you need to make sure that you qualify under the new mortgage rules.

The biggest change by far was the increase to the mortgage qualifying rate. Basically, no matter which term you are selecting you will have to qualify at the Bank of Canada posted rate which is currently 4.64%. The mortgage rate you are given will be considerably less than this and will be based on whichever term you choose. The rationale is that there is no way rates were going to stay at 2.39% and all of a sudden a lot of people could be hit with a significant mortgage payment increases which could mean increased foreclosures. When you remember that our federal government is actually financially backing those mortgages through the mortgage insurers, they had a vested interest in keeping the housing market secure.

So the things you need to know:

1. Rates have climbed since the rule changes were announced, so if a new home is in your future get a rate hold in place so you are protected against further increases. Most are good for 120 days.

2. Make sure they are checking your credit and not just seeing how much you are qualified for based on your income. Can you imagine selling your home only to be told that you do not qualify for the financing on the next because of something on your credit bureau? It has happened, I assure you.

3. Given the variety of ways in which we all get paid, you also need to make sure your pre-approval is solid given your situation. For example, the mortgage lenders require a 2 year history on all variable income. That means if your income is commission, bonuses, overtime or shift differential then you will need a 2 year history of it before it can be used for the mortgage qualification.

4. Porting is an area which is slightly misunderstood. You will have to qualify for the mortgage under the new rules even if you are just moving the mortgage from A to B. Please refer back to the previous horror story of the people who had sold and then could not buy a new home.

5. Ironically, the changes now mean that if you are refinancing your home, there is a possibility that you will have a higher mortgage rate than someone putting 5% down. This is because the 5% down mortgage is insured while yours with the significant amount of equity is not making it a higher risk for the bank. If you are considering a refi you may want to do it sooner rather than later given the rate increases.

6. Rental properties have been heavily hit by the changes. Our economy means that fewer lenders are willing to consider these mortgages to start with and those that still are have upped the ante. Some have increased the minimum down to 35% from 20%. Others require a very strong net worth in liquid assets. If you have multiple properties make sure they are reporting on your taxes.

So that’s about that. A solid pre-approval from a qualified mortgage professional is a very good peace of mind strategy for both the new home buyer and those veteran buyers. When you’re ready to talk of if you need more information, the mortgage professionals at Dominion Lending Centres are here!

Courtesy of Pam Pikkert, AMP – DLC Regional Mortgage Group 

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 when to tap into your CPP. For many retirees and those approaching their retirement, these articles are a reminder of how to prepare and what to anticipate. However, Canadians continue to struggle with their finances in their retirement years.

Many Canadians are entering their retirement years with debt and underestimating the amount they need to save for retirement. In a recent national survey of Canadian homeowners, 40+, that we commissioned, we found there is a large gap between the lifestyle expectations of those Canadians studied and the reality. In fact, a startling 69% of Canadians researched expressed confidence that they have sufficient funds to retire, however 43% of retirees studied have debt including a whopping 35% of Canadians 75+. While 78% claim to have savings and investments, a full 40% have less saved than $100,000. That means, the majority (53%) of Canadian homeowners 40+ have either no or less than $100,000 in savings to carry them through retirement!

The study further goes on to show that a significant portion (82%) of those studied, reported that having the ability to stay in their homes during retirement is very important and 69% value their home equity as an important asset in their retirement plans.

This study also enabled us to question the familiarity of the reverse mortgage product. More than half of the respondents claimed that they were familiar with reverse mortgages, and among those who would consider a reverse mortgage, 50% of them said that the main reason for considering a reverse mortgage is to supplement their income.

Many respondents wanted reassurance that they would continue to own their own home without ownership being transferred to a third party. (yes-customers continue to own their own home!) The respondents also felt more at ease knowing that banks and other secure financial institutions offered the CHIP Reverse Mortgage (they do!) and if the solution was recommended by financial professionals (it is!).

This study is a reminder of how important it is to continue to raise awareness to the reverse mortgage product. Canadians prefer to age in place, are carrying debt and have inadequate savings, but many are directed to solutions that don’t give them the opportunity to live in their homes without the need for monthly mortgage payments. Reverse mortgages are a smart and comprehensible solution for Canadians planning their retirement. To learn more, contact your local Dominion Lending Centres mortgage professional.

Courtesy of Yvonne Ziomecki, HomEquity Bank – Senior Vice Presiden, Marketing and Sales

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 limited to one lender, but if you use a mortgage broker, they have the option to shop for you with multiple lenders to find you the best product.

2. Not knowing your credit score

Your credit score is a HUGE factor in your mortgage application. The first thing lenders look at is your history and your score—then from there they build your file.

You should know where you stand because so much of your lending availability is tied to your credit score. In mere minutes, a mortgage broker can help you obtain a copy of your credit report, and go through it to ensure the information is correct.

3. Shopping with too many lenders

When you shop from institution to institution you will have your credit score pulled multiple times. Lenders typically frown upon this and it may interfere with your mortgage application. If you go to a mortgage broker though, your score is pulled ONE time only.

4. Not keeping your taxes up-to-date

Plain and simple: If you are self employed or the mortgage application is requiring a 2 year income average to qualify (utilizing overtime wages and/or bonuses) and you haven’t filed your taxes and kept them up to date, you cannot get a mortgage. Lenders will ask for your notice of assessment if your tax filings are not up to date, and you will not get your mortgage until they are filed properly and a Notice of Adjustment from the latest year it is received.

5. Not understanding that the real estate market you qualify in TODAY will adjust in the future.

Rates may be at an all time low right now, but new rules, government regulation, and changes when you are up for renewal can change the circumstances. You must be able to carry your mortgage payment at a higher rate or with new laws imposed.

Remember, securing a mortgage isn’t always about getting the best deal. It’s about getting a home you want and establishing yourself as a homeowner. That means not overextending yourself and taking your qualifying amount to the maximum. Leave some breathing room because no one knows what the future may hold!

But one thing’s for sure – you should contact a mortgage professional at Dominion Lending Centres!

Courtesy of Geoff Lee, AMP – DLC GLM Mortgage Group 

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 properties that you can put your own personal stamp on. Why not renovate something?

There is a mortgage product called Purchase Plus Improvements (PPI). With the PPI the lender is able to provide additional financing to improve the subject property. This type of mortgage is available to assist buyers with making simple upgrades, not conduct a major renovation where structural modifications are made. Simple renovations include paint, flooring, windows, hot-water tank, new furnace, kitchen updates, bathroom updates, new roof,  basement finishing, and more.

There are parameters to the PPI mortgage program:

• Apply for up to a maximum of 10% of the as-improved market value
• Utilize as little as 5% towards the down payment
• At the time the application is submitted for approval the lender requires a construction quote to verify the work that is planned for the subject property
• Renovation to be completed within 120 days
• A third party (appraiser) must verify completion
• One advance of the funds once the project is complete
• Once the renovation is complete the lawyer would release the funds

PPI Scenario

Listed or Purchase Price: $450,000

Value of the Renovation: $45,000

As-Improved Value: $495,000 (new Purchase Price)

Maximum Borrow: $49,500 (10%)

Purchase Price: $495,000

Down Payment: $24,750 (5%)

Mortgage Amount: $470,250

Mortgage Insurance: $16,929

Total Loan: $487,179

Monthly Mortgage Payment: $2,146.17

For many, it is a daunting task to seek a mortgage plus a second type of financing to complete renovations, so why not opt for the PPI option?

If you are considering another form of financing for the renovation, some borrowers look for a line of credit, but is it really saving money and time? An interest-only payment on $49,500 is another $309.38 (based on 7.50%) which saves you $114.28 overall.

With all the different types of mortgages out there, be sure to contact your local Dominion Lending Centres mortgage professional so we can explain how “we’ve got a mortgage for that”!

Courtesy of Michael Hallett, AMP – DLC Producers West Financial 

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 that all parts of an application are equal (available down payment, income, monthly liability payments etc.) except for the Credit Score. Established credit in this case would be any credit report that has at least 2 accounts reporting with a limit of $2,000 for 2 Years.

Comparing the credit profiles of Jane and John both who make a gross annual income of $50,000 the following would apply:

First Gross Debt Service Ratio (GDS) is the combined shelter expenses (heat, property tax, half of condo fees & mortgage payment) in relation to the borrowers gross income. And Total Debt Service Ratio (TDS) is the GDS plus all other monthly debt liabilities in relation to the borrowers gross income.

Jane has a Credit Score over 680

• GDS allowed is 39%
• TDS allowed is 44%

John has a Credit Score between 600-679

• GDS allowed is 35%
• TDS allowed is 42%

Each year Jane may allocate $19,500 towards GDS and $22,000 towards TDS.

And each year John may allocate $17,500 towards GDS and $21,000 towards TDS.

Lets assume heat and property tax combined are $300/month. This means that Jane with her excellent credit can allocate $1,325 towards her mortgage payment and John can allocate $1,158 toward his mortgage payment.

Using the current Benchmark Qualifying Rate of 4.64% to qualify Jane may qualify for a mortgage of $236,066 and John may qualify for a mortgage of $206,313, a difference of$29,735.

As you can see there is quite the difference in mortgage amounts allowed under each credit rating. If you’re thinking of buying it’s best to consult a Dominion Lending Centres mortgage broker who will check your credit, help you determine your maximum mortgage amounts and if necessary help you make credit decisions that may improve your credit score and buying power.

Courtesy of Kathleen Dediluke, AMP – DLC Integrity Mortgage 

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 sharply. Central banks, particularly the Bank of England, are vowing to do whatever it takes to provide liquidity and stem financial chaos. Mark Carney, Governor of the Bank of England and a vocal opponent to Brexit, has assured markets that the Bank will be there as a lender of last resort to cushion the blow to financial institutions. Banks and insurance companies are hardest hit, but businesses worldwide that do business in the UK or in Europe are faced with disturbing questions that could take months or years to answer. Moreover, hedge funds and other investors around the world that have been caught on the wrong side of this trade are scrambling, which likely portends a sell off in risky assets for at least a couple of days.

Even with all of this, investors should not panic sell this environment. It is a buying opportunity for longer term investors. At the same time, do not try to time markets. No one can pick the bottom and market timing never works. Canadians who have some dry powder should consider buying their favourite stocks as they are sideswiped by the British vote.

Politically, the vote and the subsequent resignation of the British Prime Minister, David Cameron, is a vivid indication of the global move to nationalism, isolationism and xenophobia. Populist demagogues around the world are finding a welcoming audience as the top 1 percent who have benefited from globalization and free trade have failed to share the wealth. The broad middle class in all countries have been squeezed by forces that have pushed production to cheap-labour emerging economies or have replaced their jobs by technology. In all advanced economies, income growth has stagnated for all but the richest among us, which has led to a very nasty blame game. Scapegoating immigrants, minorities, free trade and the powers that be is evident from the US to France. Donald Trump, the most vivid example of such populist demagoguery, who happens to be in Scotland today, supported Brexit and has lauded the British people for taking their country back.

Elites who make light of this growing sentiment do so at their own peril. It helps to explain the populist movement in the US election campaign on both the left (Bernie Sanders) and the right (Donald Trump). Mainline economists support free trade and globalization. But mounting income inequality creates a tinder keg that is ripe for exploitation. Promises of “bringing the jobs back” and “America (Britain) First” set fire to this furor and, as we have just seen, these forces can win at the peril of financial and economic losses.

For now, the most immediate impact will be lower interest rates. Not only will the Bank of England and the European Central Bank ease further, so will central banks in Switzerland and Japan. The Fed, which was widely expected to hike interest rates once again in September, will likely remain on the sidelines.

The Bank of Canada will wait and see what happens. The Canadian dollar is actually holding up quite well right now, although Canadian bank stocks are taking a hit, down just over 2 percent as of this writing. Only about 4 percent of Canadian trade is with Europe and only roughly 3 percent with Britain. Investors are fleeing to the safe haven of the US dollar, US Treasuries and, to some extent, Canadian assets are safe havens too. If anything, continued very low interest rates could further boost already hot Toronto and Vancouver housing markets.

Bottom Line: while this is not good for our economy, the negative impact will be relatively muted. Nevertheless, financial turmoil and uncertainty will continue for some time, which is never good for confidence and therefore, risk-taking and spending.

Courtesy of Dr. Sherry Cooper, Chief Economist, Dominion Lending Centres 

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, cash back mortgages 95% refinancing, 5% down payment required for rental properties, and qualifications for FIXED terms under 5 years and VARIABLE mortgages at discounted contract rate. There was also NO LIMIT for your GROSS DEBT SERVICING (GDS) if your credit was strong enough. Relaxed lending guidelines when debt servicing secured and unsecured lines of credits and heating costs for non subject and subject properties.

JULY 2008

We saw the elimination of 100% financing, the decrease of amortizations from 40-35 years and the introduction of minimum required credit scores all took place during this time period. It was also the time in which the Total Debt Servicing (TDS) could only be maxed to 45%

APRIL 2010

This time period saw Variable Rate Mortgages having to be qualified at the 5-year Bank of Canada’s posted rate along with 1-4 year Fixed Term Mortgages qualified at the same. There was also the introduction of a minimum of 20% down vs. 5% on investment properties and an introduction of new guidelines on looking at rental income, property taxes and heat.

MARCH 2011

The 35-year Amortization dropped to 30 years for conventional mortgages, refinancing dropped to 85% from 90% and the elimination of mortgage insurance on secured lines of credit

JULY 2012

30 year amortizations dropped again to 25 years for High Ratio Mortgages (less than 20% down). Refinancing also dropped down this time to 80% from 85%. Tougher guidelines within stated income mortgage products making financing for the Business for Self more challenging and the disappearance of true equity lending. Perhaps the three biggest changes of this time were:

* Ban mortgage insurance on any million dollar homes

* 20% min requirement for down payment

* Elimination of cash back mortgages

* Federal guidelines Min; requirement of 5% down

* Introduction to FLEX DOWN mortgage products

FEBRUARY 2014

Increase in default insurance premiums.

FEBRUARY 2016

Minimum down payment rules changed to:

• Up to $500K – 5%
• Up to $1MM – 5% for the first $500K and 10% up to $1MM
• $1MM and greater requires 20% down (no mortgage insurance available)

Exemption for BC Property Transfer Tax on NEW BUILDS regardless if one was a 1st time home buyer with a purchase price of $750K or less.

JULY 2016

Still fresh in our minds, the introduction of the foreign tax stating that an ADDITIONAL 15% Property Transfer Tax is applied for all non residents or corporations that are not incorporated in Canada purchasing property in British Columbia.

WHAT IS TO COME?

OCTOBER 17, 2016: STRESS TESTING

INSURED mortgages with less than 20% down Have to qualify at Bank of Canada 5 year posted rate.

NOVEMBER 30, 2016: MONOLINE LENDERS

In addition, Portfolio Insured mortgages (monoline lenders) greater than 20% have new conditions with regulations requiring qualification at the Bank of Canada 5 year posted rate, maximum amortization of 25 years, max purchase price of $1 Million and must be owner occupied.

BOTTOM LINE:

Homeowners will experience the following:

1. QUALIFY FOR LESS-25% less

• Options for mortgages will decrease as certain lender’s guidelines will no longer meet the federal criteria

• No more rental or investment properties to be insured

2. CAPITAL GAINS

• Can only be claimed 1x per year.

• Measure taken against the recent flipping of assignments to avoid property transfer tax from investors in the last 2 years

Stay up-to-date on all the changes in the mortgage rules by visiting the Dominion Lending Centres “new rules” page by clicking HERE. As always, we’re here to help with all your mortgage questions and needs.

 Courtesy of Geoff Lee, AMP – GLM Mortgage Group

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” and the tenants as “buyer” signed the agreement (Offer to Purchase). They deposited $5,000 with the agreement and the possession date was August 31, 2015. If Jackson and Hailey put 5% down, then they need $15,000 as a down payment PLUS 1.5% for the closing costs of the house – 1.5% of $300,000 would be $4,500. To buy this home, Jackson and Hailey need $15,000 + $4,500. Altogether, they need $19,500.

In the month of July 2015, the couple (the tenants – Jackson and Hailey) added a patio at the rental home and painted the whole house inside. The tenants spent $5,897.32 from their pocket for this renovation and patio project. On July 28, 2015, the landlord (the seller) gave them a cheque for $5,897.32.

They deposited this cheque in their savings account and were under the impression that they could use this $5,897.32 towards their 5% down or closing costs. No, they can’t use this amount since the landlord paid it for the work they did in that same home. Under the guidelines, the seller is not allowed to pay any money to the buyer for the sale of this property. Now Jackson and Hailey are short $5,897.32 to buy this home.

Jackson and Hailey should have gotten some advice from a mortgage professional at Dominion Lending Centres before they signed an agreement to buy this home.

The proper planning of a mortgage is pertinent before anybody signs any agreements – it helps the client and the real estate agent.

Courtesy of Gurcharan Singh, AMP –  DLC Canadian Anderson Financial Mortgage Team

It’s been a month since Donald Trump stunned the world by beating Hillary Clinton and his presidential win is already affecting many Canadians. Who else but Donald could wipe out more than 1 Trillion dollars in the bond market [1] as investors worry about his campaign promises to cut taxes and take on massive amounts of debt?

But what does this have to do with Reverse Mortgages in Canada?

Bottom Line: they could become more expensive. In fact, all mortgages in general could become much more expensive, relative to the low-interest rate environment that has surrounded Canadians for over a decade.

Bond Market = Funding Source of Mortgages. One of the primary funding sources for banks’ lending out money is the Bond Market. Banks make their money on the spread between how much interest they have to pay investors to borrow money and how much interest they charge clients on their mortgage. When banks costs increase, it usually translates into an increased cost to consumers.

Bonds are a bit tricky to wrap your head around at first, but it is an interesting global market (accounting for over 100 Trillion Dollars [2]), and it’s worth getting the basics down.

One of the most important things you need to know about bonds: the value of bonds moves in the opposite direction to interest rates. When interest rates rise, the value of bonds becomes lower.

To help illustrate, I’m going to use a very basic example using a 10-Year Canadian Bond:

If you purchased a bond 5-years ago for $1,000 that was earning 6%, and sold it on the bond market today when interest rates were only 2%, would you sell your bond for $1,000? No, it would be worth much more to investors as they can only purchase bonds earning a 2% yield.

Now, let’s say you purchased a bond today for $5,000 that was earning you 2%. If, in 5-years from now, rates rose to 4%, what do you suppose would happen to the value of your bond? Right! It would be worth far less, as you’d be selling investors a bond that is earning them less than they can purchase on the market.

Donald Trump’s talk of issuing massive amounts of debt, cutting taxes, trade wars and higher tariffs, has investors very worried about interest rates rising – and rising interest rates has the bond and the mortgage markets worried.

BMO Bank of Montreal senior economist, Sal Guatieri, is quoted: “The market has really re-priced interest rates higher right across the yield curve, and some of those pressures have spilled over to Canada as well. We’re seeing our 10-year Government of Canada bond yield now up about 30 basis points compared with before the US election. So that’s a pretty meaningful move in long-term rates over such a short period of time”.

By coincidence, RBC Royal Bank has raised its 5-year fixed rate by 30 basis points which goes into effect tomorrow. What does this mean to the 5.78 million seniors living in Canada? If they own a home and are looking into a reverse mortgage, locking into a 5-year fixed rate might be a good option for consideration.

If you are considering a Reverse Mortgage for yourself or a loved one, contact the mortgage professionals at Dominion Lending Centres.

*A version of this post was originally published by Roland Mackintosh on LinkedIn Pulse.

1. http://www.reuters.com/article/us-usa-election-bonds-idUSKBN1380VP
2. http://www.zerohedge.com/news/2016-11-01/did-100-trillion-global-bond-bubble-just-burst

Courtesy of Roland Mackintosh – Business Development Manager, HomEquity Bank 

To understand financing options for conventional borrowers – ask your Dominion Lending Centres Mortgage Broker.  In October 2016 the Federal Government announced some significant changes to mortgage rules for high ratio borrowers.  Changes for high ratio mortgages took effect Oct 17th.  Changes for conventional borrowers took effect Nov 30th.  These changes will result in tighter guidelines to qualify for a mortgage, pressure on rates and may impact home prices in a market which has already been softening in recent months.

Let’s clarify the difference between a high ratio and conventional mortgage so we are all on the same page.

A high ratio mortgage occurs when a borrower has less than 20 percent down payment for their property purchase.  The mortgage must be insured through one of the main insurers and the client pays a one-time premium which is rolled into the mortgage.  A conventional mortgages occurs when a borrower has more than 20% down payment which means the mortgage does not require insurance coverage and no additional premium cost. In the case of rental properties or special mortgage programs an insurance premium can apply at a cost to the borrower.

Effective November 30th, all conventional borrowers are required to qualify at the benchmark rate (currently 4.64 percent) and a maximum of 25 year amortization for all mortgage terms if the lender is insuring the mortgage.  In recent years banks  and credit unions have opted to insure some of their conventional mortgages through CMHC, Genworth or Canada Guaranty.  Mortgage companies are required to insure their portfolio of mortgages through these insurers if they source their funds through investors rather than using their own money.  Since they are not a bank they do not have deposits to savings or chequing accounts.  With an insured mortgage the lender transfers their risk of lending to the insurer in the event of default by the borrower.  The mortgage is granted with insurance coverage and includes a mortgage premium.  The lender covers the cost of this insurance so many borrowers would not have any idea if their conventional mortgage was insured or not.

Because mortgage companies insure their mortgages the announcement of the new rules had an immediate impact on their business and what they can offer as competitive products to consumers.  Banks have the option to but don’t have to insure their conventional mortgages and can follow the previous rules for qualifying at contract rates and 30 year amortizations. However as expected, the banks have announced a premium to the interest rate for borrowers to access the 30 year amortizations.  So rates have increased for all mortgages over the past couple of weeks by 20 basis points, for 30 year amortizations an additional premium will be added and a further premium for rental properties.  Bottom line the cost to borrower has increased.

Over the past 20+ years the increase of mortgage companies has created competition for the banks.  There are some concerns these changes to mortgage rules will mean the exit of some mortgage companies from the market place and limit the competition for consumers on rates and products.  We have seen rate increases in the past few weeks which may be in part in response to the changes.  Although after the fiscal year end of October 31st rates typically rise so this may be a non-event.  As the deadline for the new rules for conventional mortgages passes some mortgage companies who fund with their own money have announced shifts to their products and rates to offer competitive options to consumers.  The good news is there is always the power of choice.

Your Dominion Lending Centres mortgage broker will continue to work with the banks, credit unions and mortgage companies so nothing has changed in that regard – business as usual.

As an independent mortgage broker I can access all lending options including 30 and 35 year amortizations.  In addition there are solutions for rental property owners, financing options for self-employed people and alternative financing for those borrowers who do not fit within traditional offerings. Now more than ever it is important for consumers to consult  with your mortgage broker to review any important aspects of your financial picture, address any concerns and source best solutions.

For assistance with your high ratio mortgage or to understand financing options for conventional borrowers – ask your DLC Mortgage Broker.

Courtesy of Pauline Tonkin, AMP – DLC Innovative Mortgage Solutions