Inside and Outside the Box Mortgages in Today’s Market

30th June 2017

 As we truck along in 2017, Mortgage Brokers and Lenders are adjusting to the new risk based mortgage rate pricing that came into play after the Finance Minister changed Government backed mortgage default insurance regulations in late 2016. Lenders often choose to pay for mortgage default insurance on mortgages where the borrower was not required to […]

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Stuck In a High Rate 10 Year Fixed Mortgage?

29th June 2017

With low rate offerings over the past several years and a struggling economy, some homeowners chose to lock into a longer term mortgage even if the interest rate was a bit higher. If you are one of those people who feel stuck in a high rate 10 year fixed mortgage you may be wondering if […]

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10 Things to know about your new neighbourhood

28th June 2017

What are the neighbours like? Take time to get a feel for the locals and how you might fit in. Does the area attract empty nesters and retirees, for example, or is it characterized by young families? A real estate professional can help inform you about demographic trends. Does it fit your lifestyle? Your homebuying […]

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What Happens When a Home Sale Falls Through?

27th June 2017

Every homebuyer eagerly anticipates closing day. With the home purchase process completed, ownership of the property transfers from the seller to the buyer – you! Closing date is negotiated as a condition of sale. You’ll typically have several weeks between the date that your agreement to purchase (sales contract) is signed and your closing date. […]

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35% Down… The New Conventional Mortgage?

26th June 2017

If you’re looking to buy a new home, one of the most difficult things can be putting together a down payment for the mortgage. So how much do you really need to put together before you can get into the home of your dreams? Let’s take a look at some of the different options, with […]

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Keeping your economic future on the right path

20th June 2017

 Most working Canadians have an income range in the middle class. This income class includes teachers, firefighters, plumbers, engineers, nurses, construction managers and chefs – workers from across the economic spectrum. They provide and consume the bulk of services that keep society afloat, driving economic growth and investment with every purchase. The middle class also […]

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Are you looking for a mortgage as if it were a commodity?

19th June 2017

 I’ve heard brokers say more than once that mortgages are a commodity, by definition a commodity is a basic good used in commerce that is interchangeable with other commodities of the same type. That doesn’t sound like mortgages to me. While the core product is always the same, money lent that is secured by real […]

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Mortgage-Geek History

15th June 2017

 The average person if stopped on the street and asked; Are today’s low interest rates driving up house prices? Would likely say ‘yes’. They would be wrong. And we can let their lack of understanding pass, after all we can agree that math mostly sucks. However to ask a Realtor, banker, or your Mortgage Broker […]

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How to Interview a Mortgage Professional

14th June 2017

 This is the second part of a series over the next few weeks of things the average mortgage professional wished people knew so that they would not be held back by inadvertent missteps. There is so much information about everything these days and quite frankly it is overwhelming to say the least. You want to […]

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A fresh start-Our House Magazine Spring 2017

13th June 2017

 The following is from the Spring issue of Dominion Lending Centres’ Our House Magazine. Cara Brookins built a new home for her family from the ground up A house is often considered more than just a place to live. It’s a place of memories, stability and safety. No one understands this sentiment more than Cara […]

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Industry Initials Explained

12th June 2017

 Many of us will remember the television show, Mork and Mindy. Imagine that you have just moved to Canada and you overhear a conversation, “ I was watching NBC and they said that the FBI arrested a criminal at IGA.” You probably wouldn’t understand what they said because we all use acronyms. We often replace […]

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Things Mortgage Professionals Wished Young Adults Knew

8th June 2017

So we are going to do a series over the next few weeks of things the average mortgage professional wished people knew so that they would not be held back by inadvertent missteps. This week we will look at young adults just starting out. Let’s outline five things you really need to be aware of […]

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Where I work matters as much to you as it does to me – The DLC Difference

7th June 2017

When I made the decision to become a mortgage broker, I was cautioned by friends already in the field to choose wisely where I would plant my flag. After a bit of deliberation, I chose a franchise that was very familiar to me – the owners were people I had worked with in my previous […]

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How does the growth of our aging population affect Canadians?

6th June 2017

According to the latest Statistics Canada’s 2016 census data released last month, Canadian seniors now outnumber children for the first time, with 5.9 million Canadian seniors compared to 5.8 million Canadians 14 years of age or younger. The number of Canadian seniors is expected to continue to grow because of the gains in life expectancy. […]

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“Mr. Mortgage Broker, please give me the best rate!”

5th June 2017

In the past, it was easy to give our clients the best mortgage rate available. Unfortunately, new government regulations have created a fragmentation of interest rates that make “giving you our best rate,” more complex. It’s important to distinguish between what is “insurable” and “uninsurable.” An “insurable” mortgage is approved at 25 years amortization and […]

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Bullying Ends Here Update for June 2017

2nd June 2017

Well, what a year it has been. Of course I refer to ‘year’ being the school year. With June now upon us, schools are winding down, just as Bullying Ends Here is about to take a few months to catch our breath and plan for an amazing 2017/18. To wind down this year, Dominion Lending […]

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Find your perfect home type

1st June 2017

Single-family detached homes are the most popular choice of Canadian homeowners, but aspiring first-time homebuyers should consider all their options before starting their house hunt. Don’t overlook the perfect option for your family – you may be surprised by what’s out there, at or below your budget. According to Statistics Canada, over half (55 per […]

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