9 Jun

Go long or short with your rate

General

Posted by: Jeff Parsons

With all the news about interest rates rising do you go long or short with your rate when you set up your mortgage? After discussing your current life situation and answering some key questions with your Dominion Lending Centres mortgage broker you can make some decisions and set your mortgage rate and term to best […]

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8 Jun

Things Mortgage Professionals Wished Young Adults Knew

General

Posted by: Jeff Parsons

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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25 May

This Vs That 8: Renew or switch lenders

General

Posted by: Jeff Parsons

Renew (the mortgage industry meaning): to remain with the current lender by simply signing the renewal letter that comes in the (e)mail. Switch (again, the mortgage industry meaning): to move from the existing lender to a different lender without leveraging any additional funds/equity; the outstanding balance remains the same. Is renewing your mortgage with the […]

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24 May

Self Employed? 8 Tips to help you qualify for a mortgage

General

Posted by: Jeff Parsons

Since 2012, it’s become the wild west of mortgage options out there for those folks who are living the Canadian dream of being Self Employed (also known as BFS, Business for Self). In 2012, the Office of the Superintendent of Financial Institutions introduced Guideline B-20, which required federally regulated banks to tighten the rules for […]

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17 May

What Happens When a Home Sale Falls Through?

General

Posted by: Jeff Parsons

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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11 May

So You Want To Port Your Mortgage?

General

Posted by: Jeff Parsons

Recently a video appeared on Linkedin and a few other places singing the praises of porting your mortgage and making it seem like a walk in the park. If you have ever done one, then you would know that it is anything but that scenario. Porting is not much different than qualifying for a new […]

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2 May

Getting a Mortgage After Consumer Proposal or Bankruptcy

General

Posted by: Jeff Parsons

Life can definitely throw some challenging financial situations your way. As mortgage professionals, we can provide solutions and strategies during or after these challenging times in order to get you back on track. We have access to banks, trust companies and mortgage companies that specialize in this transitional period to help you move forward with […]

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1 May

Spousal Buyout Mortgage?

General

Posted by: Jeff Parsons

If you happen to be going through, or considering a divorce or separation, you might not be aware that there are mortgage products designed to allow you to refinance your property in order to buyout your ex-spouse. For most couples, their property is their largest asset and where the majority of their equity has been […]

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6 Apr

How To Properly Calculate Your Mortgage

General

Posted by: Jeff Parsons

Calling all house hunters! We have a question for you—have you calculated what your mortgage will be? It is all too common for buyers to start house hunting before they truly know what their mortgage payment will work out to each month. This leads to homeowners being in over their heads. We believe in being […]

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