Dominion Mortgage Pro Tips
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 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
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
Home Buyer’s Plan: Understand Your Investment Brad and Brenda have been putting some money in their RRSPs investments for the last four years. Their last statement shows that they have $12,500 in their RRSP’s savings, and they also have $5,000 in the bank in their savings account. They decided to buy a starter home in…
November
Broker vs. The Bank As a former personal banker, and now mortgage broker, I’ve seen both sides of the mortgage rate fence. And trust me when I say, going with a mortgage broker will save you energy, time and money. We have over 30 lenders, the best mortgage rates, and best products to offer our…
October
We’ve seen a lot of interest rate activity this summer primarily in the longer term fixed rates. At one point the 5 year fixed rate was at 2.79% and now sitting at around 2.89% best rate. The golden question we keep getting asked is if it’s going to continue to go up. We wish we…
October
Choosing the mortgage term that’s right for you can be a challenging proposition for even the savviest of homebuyers, as terms typically range from six months up to 10 years.By understanding mortgage terms and what they mean in dollars and sense, you can save the most money and choose the term that is best suited…
September
This is a question I’ve been asked numerous times over the past 8.5 years. When I first entered the industry I used to answer this by informing clients a broker works for you and not the lender, better rates typically, and free to use. Now in my mind that should be enough to convince a…
May
Mortgages can be a confusing subject. Buying or selling a home is an emotional decision and can be very stressful. As a mortgage expert, I will take the confusion out of mortgages and make the process as smooth as possible. In Canada, there are two major categories that mortgages fall into, either closed or open.…
November
In Canada, there are many benefits to owning your own home, here’s our list of the top five: 1. Tax breaks. The Canadian government offers a variety of tax breaks and credits for homeowners that you can take advantage of. 2. Gains Generally, in Canada, we’ve seen steady growth in land and home values year…
November
We’ve got plenty of great finance tips on this site, but here’s five that you may not have thought of for your first home Start budgeting – To help get a handle on your expenses now, and perhaps weed out unnecessary expenses to help you reach your down payment or mortgage payment goals, you should build…
November
Take a minute and think about what your dream home would be look like. Now, take into consideration your pre-approval amount. Let’s face it; very few people can afford their dream home as their first. Chances are you’ll have to make some sacrifices, but before you start your search it’s very important to consider the…
November
It’s a simple fact, many homebuyers place offers on homes without knowing how much they will be approved for. Seems silly right? Finding your home before securing financing is a waste of time and money. By the time you do secure financing, you may find out that your home was out of your price range,…
November
There are generally two ways to get a mortgage in Canada: from a bank, or from a licensed mortgage professional. A bank will simply offer you a mortgage from their collection of products that best fits your needs. On the other hand, a licensed mortgage professional will search Canada’s largest banks, credit unions, and trust…
November
If you are looking for a new home, be sure you are pre-approved. With a mortgage pre-approval, a licensed mortgage professional can do a more complete verification prior to sending you shopping for a home, and with that done, the dollar figure you are going shopping with is actually what you can spend. The mortgage…
November
Lenders like fiscally responsible clients. Not to mention, if you have sound financial history you’ll be eligible for better rates that could ultimately save you tons of money. To help improve your credit rating, here are some invaluable tips: a) Pay Down Outstanding Debt – To get a loan, you need to have credit but little…
November
