Housing Market Weakens Further in July, But Drag From GTA Dissipates

15th August 2017

This morning’s release of the Canadian Real Estate Association (CREA) data for July confirmed that key housing markets in Canada continued to slow, led by the Greater Golden Horseshoe (GGH) region surrounding Toronto. This region’s marked slowdown began in late April with the announcement of a 15% foreign tax credit and a sixteen-point program to […]

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The Role of a Mortgage Broker

14th August 2017

 Buying a home is a big step – a big, very exciting, potentially stressful step! How can you take the hassle out of the equation and keep your buying experience super positive? Easy… Surround yourself with a team of experienced professionals!   Many experienced realtors insist on starting your financing first, that’s where your Mortgage […]

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Is it Really All About Rate?

11th August 2017

 Is It Really All About Rate? You might conclude that it is. You may think that securing the lowest rate is key to your real estate investment success. However, rate is but one of the four main components of any commercial mortgage offer. Amount, term and amortization period are also critical factors. It’s all related […]

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Know Your Numbers

10th August 2017

 Most people know their weight. Their height. Their age. Their birth date. Their address. Their SIN. Even their income. Could you imagine if you always had to say to someone, “Can I get you that information when I get home? It’s written down in my planner… ” Knowing your everyday numbers is important. It allows […]

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June 2017 – Top 20 Award with DLC

10th August 2017

We have a top notch team here at NDLC and we are consistently outshining the competition. We’re very proud to win 2nd place in Dominion Lending Centres Canada Top 20 Mortgages Funded Monthly for June 2017.

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Home Equity Line of Credit in Canada vs. Reverse Mortgages

9th August 2017

 In our business, we are constantly approached with questions about how reverse mortgages work and how they compare to Home Equity Lines of Credit (HELOCs). HELOCs are the most closely comparable products in Canada and many believe them to be superior to reverse mortgages. But many Canadians look at only two things and assume HELOCs […]

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Financing Success: Finding funding when the bank turns you down

8th August 2017

 For businesses large and small, a loan may be needed to overcome financial distress, purchase real estate, or acquire equipment to make their jobs easier. Business loans come in all sizes and for use in every aspect of business. Depending upon the size, age, and niche of your business, you can find available funding for […]

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Conventional Mortgages Have Become…

4th August 2017

 What have they become? Well in one word complicated. I just ran some numbers for a client and it is based on a $400,000 purchase with 20% or $80,000 down payment. These three scenarios have been reproduced in our Filogix system and the numbers are as per their calculators.   Scenario one is get a […]

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Five things to think about when you buy a rural property

3rd August 2017

 After several years as a home owner, my friend was set to buy the home of his dreams. He always wanted to own an acreage outside of town. He had visions of having a few animals, a small tractor and lots of space. As a person with experience buying homes he felt that he was […]

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Homebuyers: Avoid These Common Mortgage Pitfalls

2nd August 2017

Steve Huebl   – Canadian Mortgage Trends July 21, 2017 A home is the largest purchase most people will make in their lives. That should reinforce the importance of planning ahead, doing your research, relying on the advice of experts and not rushing through the process. With nearly 700,000 homes purchased in Canada each year, there’s […]

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Understanding how Bridge Financing Works

2nd August 2017

 Sometimes in life, things don’t always go as planned. This could not be truer than in the world of Real Estate. For instance, let’s say that you have just sold your home and purchased a new home. The thought was to use the proceeds of the sale of your house as the down payment for […]

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The Backyard Wedding

1st August 2017

From the summer issue of Dominion Lending Centres’ Our House Magazine.  One woman’s experience planning— then living—her dream nuptials under the open sky of her in-laws backyard. Some of the most stressful parts of planning a wedding involve picking a venue for the reception. For Kate Brady, and events manager by trade, she knew exactly […]

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Five points to consider before you list your home

31st July 2017

 There are several things to consider before you take the plunge and put your home up for sale. This might sound obvious, but the first step is to call your mortgage broker, not your lender directly or your realtor. You don’t have to look long for an unfortunate story of someone who didn’t understand their […]

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Reverse Mortgages – Maybe not as evil as you thought

26th July 2017

 The best part of writing about mortgages is that I get the chance to educate people about a topic which I find endlessly interesting. Reverse mortgages are certainly a topic which deserves some consideration. Everyone seems to be quite polarized over this issue so it seems it is past time we took a closer look. […]

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Outside the box

25th July 2017

 From the pages of the summer edition of Dominion Lending Centres’ Our House Magazine. For most Canadians, a home comes in just a few different varieties. It’s either a single-family wood frame house, townhome, condo or high-rise. In the quest to find less expensive housing, alternatives to the conventional home were bound to get serious […]

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Time to Be Heard Canada

25th July 2017

 I met with a client recently who wanted to get a pre-approval before he sold his home. His neighbour is a very grouchy man who causes my client and his family a lot of stress. He just wanted to sell his home and move into a new one away from this situation. I had to […]

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5 reasons the bank may turn you down for a mortgage

24th July 2017

 Mortgage rules have become stricter over the past few years. Assuming you have a down payment, good credit and a good job, what could prevent you from obtaining financing for a home purchase? Below are five less obvious reasons a bank may turn you down: It’s not you, it’s the building Hate to be the […]

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Debt-To-Income: a Meaningless Metric

20th July 2017

 The human brain struggles with distinguishing between a real or imagined threat. Is it a snake? Or just a shoelace? One may kill us quick, and so we react fast and think it through later… or maybe never. Is the often cited, rarely critiqued, ‘debt-to-income’ ratio a snake or a shoelace? A killer lying in […]

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Home to a Hero

18th July 2017

    From the pages of the summer edition of Dominion Lending Centres’ Our House Magazine. How the humble house Terry Fox grew up in is becoming a Canadian landmark. The home at 3337 Morrill St. in Port Coquitlam B.C., is in a typical suburban setting, surrounded by green trees, well worn pavement and the […]

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How to shop for a mortgage

17th July 2017

 For many people, a home will be the largest purchase of their life. It stands to reason then, that when you are shopping around for your mortgage you will want to take certain steps to ensure you are getting the sharpest rate and best product. We have a few pointers to make you a savvy […]

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Top 3 Misconceptions about Reverse Mortgages in Canada

13th July 2017

 I recently read an article by Jamie Hopkins in Forbes magazine, entitled “Americans Don’t Even Know What Their Most Important Retirement Asset Is.” The article highlighted three common misconceptions about reverse mortgages and unsurprisingly, they are prevalent in Canada as well as in the U.S. Top 3 misconceptions about Reverse Mortgages: 1. The bank owns […]

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Bank of Canada Turns the Tide

12th July 2017

  For the first time in seven years, the Bank of Canada announced today that it was hiking its key overnight rate by a quarter percentage point (25 basis points) bringing it to 0.75 percent as the economy has staged a broadly based economic expansion this year. In a break from tradition, the Bank has […]

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Mortgage brokers are superheroes

12th July 2017

Mortgage brokers have a reputation as superheroes. Although we cannot leap tall buildings in a single bound we can do extraordinary things.  Is the down payment money coming from outside of Canada? I had a client who had a joint account with her father in Japan. She showed me bank statements with the money in […]

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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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