Mortgage Broker vs Mortgage Specialist. Broker vs specialist: What’s the difference? To most consumers outside of the mortgage space, the terms “mortgage broker” and “mortgage specialist” would seem interchangeable – but they aren’t. As a potential homeowner, the differences are more important than you might think. First and foremost, it is important to… Read More…
5 Expenses Most Canadians Don’t Expect in Retirement.
5 Expenses Most Canadians Don’t Expect in Retirement. According to a recent CIBC poll, nearly half (48%) of retired Canadians stopped working sooner than they expected. The result is that many retirees have saved less for retirement than they planned, making unexpected expenses all the more stressful once the income tap has run dry…. Read More…
What is Private Lending vs Prime Lending?
Private Lending A combination of Coronavirus, rising interest rates, higher home prices and tougher qualification requirements for a mortgage loan have made purchasing and refinancing homes more difficult in Canada. If you answer “yes” to any of the questions below, you may be better suited for a Private Lender for your purchasing and refinancing… Read More…
FIXED VS VARIABLE RATE MORTGAGE – WHAT’S THE BETTER CHOICE AND WHY?
In today’s market, variable and fixed rates are not too far apart. This makes most people think that the fixed rate is the way to go as it’s often viewed as the safest option. Many believe that variable rate mortgages are for the daring and at any time your rate could double leaving you high… Read More…
CAUTION: MORTGAGE PENALTIES AND EARLY EXIT
Okay so you have a mortgage. Let’s face it, it’s a contract with terms, conditions, rights and obligations for both you and the lender. However, now for whatever reason you need or want to break the contract before the end of the term. Many mortgage lenders will allow this provided they are compensated. You have… Read More…
VERIFYING YOUR DOWN PAYMENT – WHAT YOU NEED TO KNOW
Saving for a down payment is often one of the biggest challenges facing young people looking to break into the real estate market. The source of your down payment could come from your own savings, a gift from a family member, your RRSP if you’re a first time home buyer or from the proceeds of… Read More…
New Mortgage Rules and their impact
NEW MORTGAGE RULES AND THEIR IMPACT A short time ago Canada Mortgage and Housing Corporation (CMHC) changed the rules on how much down payment buyers have to have in place to buy a home worth more than $500,000. The new rules stated that you have to have 5% on the first $500,000 and 10% on… Read More…
St. Catharines mortgage agent champions health system support
St. Catharines mortgage agent champions health system support Cameron Wilson plans to educate consumers in town hall meeting NEWS Apr 16, 2019 by Beth Audet Niagara This Week – St. Catharines A St. Catharines mortgage agent is educating consumers about a financial approach that he says will stimulate the economy and reinvest in… Read More…
Healthcare in Niagara and the mortgage industry create a Partnership.
At Dominion Lending Centres, we know Community comes first. When we learned that provincial tax dollars do not pay for medical equipment in Hospitals – we knew there was a higher purpose for our business. We have created a new way to do business and help our communties thrive! We look forward to getting you… Read More…
Who pays your Broker? Not you!
WHO PAYS YOUR MORTGAGE BROKER? NOT YOU! If you’re looking to get a mortgage and considering a mortgage broker, there’s a good chance you’re wondering about how much the service costs. Good news! Clients looking to get a standard residential mortgage pay no fees to the broker. On standard residential mortgages, it’s 100% free for… Read More…