Blog
Hey there, Edmonton homeowners and mortgage adventurers! Mortgage rates and the housing environment can sometimes feel like a game of chess. Just when you think you’ve figured it out, the game changes. But don’t worry—we’re Dominion Mortgage Pros, and we’re here to help you navigate the current landscape like the champs you know you are!…
January
When Refinancing Makes Sense Thinking about refinancing your mortgage? If you’ve been wondering if refinancing your mortgage is the right decision for you, you are not alone. Many Edmonton homeowners are often unaware or unsure of when it may be financially beneficial to refinance. When considering if refinancing makes sense for you, there are three…
July
How Does 0.1% Make a Difference on Mortgage Rates A common comment we hear is “does 0.1% really make a difference in what I pay on my mortgage?” The answer is an unequivocal “YES”. A great way to achieve long-term financial prosperity is by understanding the benefits of the right mortgage interest rate at purchase,…
June
Why use a Mortgage Broker? Using a Mortgage Broker is an experience you might initially be unsure of. The best way to beat that feeling is to know what a Mortgage Broker does and what they can do for you. It is about doing your research to ensure that you place your dreams of owning…
December
What is a Mortgage Rate? A mortgage rate is the going rate of interest charged on a mortgage. Rates are based on the most current lender information and may vary based upon individual circumstances. Mortgage rates rise and fall with interest rates and can affect the homebuyers’ market. In most cases, a mortgage lender determines…
November
What is a Flex Down Mortgage Option A flex down mortgage option is a great way to get into a primary residence without having the down payment saved up. If you have strong credit, over 650 with a clean credit history is one of the key qualifying factors. You can’t own other properties to qualify…
November
What is a Variable Rate Mortgage? Variable rate mortgages fluctuate with the prime rate. They are traditionally priced at a lower rate than the current fixed options, but if prime goes up so does the rate. That being said if prime goes down you benefit from that. The one ace in the pocket is that…
October
That’s the dream isn’t it? To be mortgage free and own your own home. Just imagine what you could do with all the extra money on a monthly basis. Many Canadians hold a mortgage, credit card, or student loan and the latest numbers from Statistics Canada show that for every dollar we bring in of…
April
If you’re like many Canadians you hold either a mortgage, credit card, or student loan, some may hold all three, but a interest rates rise affects your bottom line whatever the case and always, what comes out of your bank account on a monthly basis. Interest rates affect the percentage you pay your lender for…
March
Have you heard of the new down payment rules in Canada? If you’re looking for a mortgage in Edmonton, or simply a mortgage in general, there have been a few adjustments to the the down payment rules you’ll need to be aware of. For the most part these new down payment rules, which came into…
March
Mortgage Down payments It seems as though there might some confusion when it comes to mortgage down payments in Canada. That’s why we’re here, to help clear things up for you in a easy and concise manner. So here’s the low down on mortgage down payments, what percentage you need to have, and for what…
February
What does a Mortgage Broker do? That’s a very good question! Essentially, a mortgage broker is the middleman between the borrower (that’s you) and the lender (most often a bank). They negotiate the terms of the loan on your behalf and help find you the best deal or rate for your financial situation. A mortgage broker…
January
Looking for a variable rate mortgage or a fixed rate mortgage but can’t decide? Ask yourself one question – Do you like consistency or the chance to pay less? This is one of the most common questions we field at Dominion Mortgage Professional and one that our brokers have come to answer time and time…
January
The short answer – No. But that’s not to say all hope is lost if you don’t have the down payment you need for the home you want. There’s no such thing as a no down payment mortgage in Canada anymore and it’s been that way since 2012. However there’s a different way to help…
December
If you’re looking to buy a home in Edmonton chances are you’re going to need a mortgage – but what type of mortgage is right for you? What kind of mortgages are there even to pick from? Do I go with an Edmonton mortgage broker or go straight to the bank? Purchasing a home can…
November
That Oh So Important Financing Condition There you are, sitting down with your realtor and preparing an offer to purchase for that amazing home that you just looked at this afternoon. You get to the point in the conversation with your realtor about the need for a financing condition and you’re trying to remember…
November
Many of us make them but do we know exactly what our monthly mortgage payments are made up of. Whether you get your loan from an Edmonton mortgage broker or the bank itself, it’s a good idea to know where you’re money is going. So where exactly do all those numbers come from? How much…
November
4 Costly Mortgage Mistakes of those New Home Buying “Incentives” It’s exciting! Brand new shiny homes, opulent new appliances and granite countertops followed by massive marketing with deep discounts, rebates, cashback, free tvs, offers to pay your strata and mortgage payments? Developers are throwing in these incentives to entice buyers and many are getting shocked with…
November
Mortgages can be confusing enough without knowing exactly what your banker or broker is talking about when they’re giving all the important figures you should be paying attention to. Terms like amortization period, GDSR, or blended payments. Brush up on some mortgage terminology so in your next meeting with a broker you can look like…
November
We here at Dominion Mortgage Pros are proud to announce that we have been named one of the Top 35 CMP Mortgage Brokers in Canada for 2013! We couldn’t have done it without all the support from you, our clients. Thank you!
October