Your maximum mortgage amount is determined by your credit profile, your usable income (which is determined by each lender), your down payment among other requirements. Not all applicants fit into one box and this is why you should never trust the “What do I Qualify for Mortgage Calculators”. Let me tell you a story about […]

  Did Prime go up? No. Did my Variable rate mortgage rate change? No, not unless your variable rate mortgage is with TD. So the Bank of Canada did not raise rates? No, in fact they are more likely to lower rates than increase them. But TD raised rates? Yes, but only by 0.15% and […]

  Mortgages are like vehicles. A bank is similar to the brand, Ford or Toyota for example. How long you have a mortgage before it’s time to renew is like the model, a Fusion or Camry. The rate is similar to the car’s paint color, and the mortgage benefits such as prepayment privileges and portability […]

  Most of us know that changing your mortgage payment from monthly, or semi-monthly, to an accelerated bi-weekly payment instantly reduces your standard 25-year amortization by 2.58 years with today’s rates. (If you didn’t know that, you’re likely not working with the mortgage professionals at Dominion Lending Centres). Sometimes, however, an accelerated bi-weekly payment option might not […]

  That’s right! Sure the new mortgage rules from our Federal Government on October 17th can be a bit confusing, here are five tips to help you with your mortgage while at the same time, reducing your stress. 1. Review your Credit File: Good credit is your ticket to informed borrowing and purchasing, great rates […]

  This morning, The Canadian Real Estate Association (CREA) released its national real estate statistics for September, which showed a modest uptick in home sales nationally, as new listings ticked up and home prices increased once again. For Canada as a whole, the number of homes trading on the MLS Systems increased 0.8% month-over-month in September following […]

  Yesterday, Ottawa unveiled major initiatives to slow housing activity both by potentially discouraging foreign home purchases and, more importantly, by making it more difficult for Canadians to get mortgages. As well, the Finance Minister is limiting the degree to which mortgage lenders can buy portfolio insurance on mortgages with down payments of 20% or […]

A Take Charge Woman’s Guide To Surviving Financial Ruin And Other Odds And Sods During A Divorce If you find yourself in the unfortunate position of getting divorced, have no fear, because help is here! Divorce, while often times feels like a death, it is also the beginning of your new life.  And while it […]

  The following is a list of things you’ll want to avoid if you plan on purchasing a new home in the near future. 1. Don’t apply for new credit: It may seem natural to apply for a credit card at a home improvement store or a furniture store when you are about to become a […]

  After diligently saving your pennies and carefully managing your credit to be as strong as possible you are finally ready to start house hunting for that perfect dream home. Between you and your new life lies the seemingly terrifying mortgage process so let’s go over what you can expect so there are no surprises […]