One of the essential aspects of every mortgage application is the discussion pertaining to your down payment. Home purchases in Canada require a minimum down payment of your own funds to be put towards the deal. Your stake in the purchase. It is important that during the discussions with your Mortgage Broker that all the […]

Sorry Mr. Reaper, we’ve just figured out another way to delay your death grip! Research shows that giving an inheritance to another person while you’re alive – a concept known as “living gifting” – not only feels good, it can promote better physical and mental well-being and even help you live longer. Health researcher and […]

On several occasions we have had people ask us at Dominion Lending Centres about construction mortgages. Every lender has their own guidelines and rules when it comes to construction mortgages. That’s because there are many details involved in the process of construction, let alone the mortgage that actually funds it! Below is part 1 of […]

Avoid these 5 common mistakes, and you will have no problem getting your mortgage faster, more efficiently, and with a clear understanding of the process: 1. Thinking banks are the first and best place to go for a mortgage Mortgage brokers can often beat the bank rates by using different lending institutions. The bank is […]

A recent BMO study shows that the number of Canadians withdrawing money from their RRSP increased to 38% from 34% last year, and on average these Canadians are taking out larger sums of money. The government requires RRSPs to be converted to a RRIF when a Canadian turns 71. After 71, withdrawals begin and they […]

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. […]

 Are you thinking of buying your first home in 2017? If yes, contributing to your RRSP before the March 31 contribution deadline can help you increase your funds available for your purchase. Follow the 7 steps below so you can maximize your available funds to purchase your first home. Step 1: Check to see if […]

December 15th, the B.C. Provincial Government shared that it will begin offering financial assistance to B.C. first-time home buyers in regards to their down payment. They estimate that 42,000 new first-time home buyers will take advantage of this program over the next three years. What the B.C. Government Will Provide:  – A matched loan only […]

What is a mortgage renewal you ask? Each mortgage has a set term which can vary from 1-10 years. Just before the end of your term you will receive an offer from your current lender and you have 3 options: Sign and send back as is. Check the market to make sure you are getting […]