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Securing a rate hold is like having insurance on your mortgage rate – you no longer have to worry about mortgage rates increasing while you find your new home over the next 90-120 days. And if rates drop within that same period, so too will your pre-approved rate....
How To Qualify For a Mortgage After a Consumer Proposal. Congratulations you have made it through one of the toughest financial times in your life. It feels good to have this under control and know there is a light at the end of the tunnel. I too have been down this...
10 Don’ts of Mortgage Closing Okay, so here we are… we have worked together to secure financing for your mortgage. You are getting a great rate, favourable terms that meet your mortgage goals, the lender is satisfied with all the supporting documents, we are broker...
Are you or someone you know above the age of 55 and having trouble making ends meet? Are funds needed to cover the costs associated with an illness, disability or life event? Perhaps it’s time for a home repair or renovation, such as a kitchen or bathroom. Pay for the...
Building your dream home can sound really exciting, but have you thought about everything that goes into building a new home? Here are 7 Questions you should ask yourself before making any concrete plans. 1. What are my expectations with this new home?...
How To Pay Off Debt Faster – 25 Secret Tips Your Banker Doesn’t Want You To Know Here's a great post on how to pay off debt faster that I'd like to share with you. It comes from a fellow DLC broker, from dominionlending.ca: 1. Make a double mortgage...
For those looking to purchase rental properties, the minimum down payment has historically been at 20% for some time, and so it remains. In years gone by, this down payment money had to be proven to have originated from the buyers own resources, it could not be...
Here is a post about renovating for greater energy efficiency and how to go about getting rebates to do so. About 4 years ago, my wife and I bought a house in North Vancouver, BC. It was built in 1959 and was in need of some updates. We gutted the basement to...
A Discounted Rate may not be so discounted. Not long ago, someone connected with a Dominion Lending Centre Broker, wishing to refinance their mortgage. They presently held a mortgage from one of the big banks. When this homeowner originally obtained their mortgage,...
Why you need to shop around for your mortgage: I have many friends that shop online and go to dozens of different sites in order to save a few bucks on books, TVs, appliances, etc. Is this a good idea? It definitely is if the savings are worth it and you don’t mind...
Many people find themselves renting a home and helping others get ahead financially. When the question of “why rent” is posed, the most common answer is the issue of not having a down payment. What is interesting is that the person could afford the monthly payments...
There is a misconception out there that once you’re pre-approved, you’re good to go. A pre-approval simply means that based on your CURRENT income, expenses, down payment and credit you SHOULD be able to get fully approved once you find the right property (this is the...