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Stay up-to-date on the latest mortgage news and changes with our blog.
We share valuable information and analysis on various mortgage-related topics to enhance your knowledge.
Paying down, and off, debt is a priority in everyone’s life. Every family and individual should have a written household budget. There are plenty of
Are you a dentist and you’re currently leasing your premises? If you’ve been contemplating buying a location for your practice but don’t feel you can come up with the required down payment, don’t be discouraged. My lenders can offer loan to values up to 100% of the purchase price, subject to approval. Rates as low […]
An Ipsos Reid Poll showed that in 2008 51% of people expected to be fully retired by age 66. In 2013 only 27% expected to be fully retired by 66. That’s almost a 50% decrease in only five years. That same poll showed that 32% of Canadians expect to work part-time at 66. An […]
The link below will take you to an article outlining how consumers can expect to see mortgage costs start to rise in the next few months. This is unrelated to changes in the prime rate. A must read for anyone that has a mortgage or hopes to have a mortgage. http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2016/05/mortgage-costs-about-to-rise.html
More and more Canadians are going into their retirement years without a lot of money saved in the bank. It is suggested that in order to live a financially comfortable retirement, couples should have saved 50-60% of their peak pre-retirement income, which equates to roughly $42,000 to $72,000 a year or $275,000 to $1,025,000. Singles […]
Many people suffer from post New Year’s hangovers as their holiday spending account statements begin to arrive in their mail/inbox. This year, start the year off with a plan to minimize your monthly expense and your interest carrying costs by conducting a no-cost, no obligation financial check-up with your Dominion Lending Centres Mortgage Professional. As […]
Down Payment Changes: February 14/16 will be the last day that applications will be accepted before the new down payment changes come into effect. If you’re planning on buying a home for $500,000 or more, don’t wait to get your financing in order. If you have questions about this, contact me today for more details. […]
Effective February 15, 2016, Canada will have new down payment requirements for purchasing residential homes. For properties selling between $500,000 and $1 million, people getting an insured mortgage will now need to put more down—up to an additional 2.5% of the purchase price. In other words, 5% down will be required on the first $500,000, […]