What have they become? Well in one word complicated. I just ran some numbers for a client and it is based on a $400,000 purchase with 20% or $80,000 down payment. These three scenarios have been reproduced in our Filogix system and the numbers are as per their calculators. Scenario one is get a better […]

After several years as a home owner, my friend was set to buy the home of his dreams. He always wanted to own an acreage outside of town. He had visions of having a few animals, a small tractor and lots of space. As a person with experience buying homes he felt that he was […]

Sometimes in life, things don’t always go as planned. This could not be truer than in the world of Real Estate. For instance, let’s say that you have just sold your home and purchased a new home. The thought was to use the proceeds of the sale of your house as the down payment for […]

There are several things to consider before you take the plunge and put your home up for sale. This might sound obvious, but the first step is to call your mortgage broker, not your lender directly or your realtor. You don’t have to look long for an unfortunate story of someone who didn’t understand their […]

When you apply for a loan, lenders assess your credit risk based on a number of factors. Your credit score, as well as the information on your credit report, are key ingredients in determining whether you’ll be able to get financing and the rate you’ll pay. To get approved for a loan and to pay […]

Having completed dozens of reverse mortgage deals, there are some questions that I find I get over and over again. So today I thought I’d write a piece on the 8 most common reverse mortgage questions that people in Canada have regarding reverse mortgages. 1- If I have an existing mortgage on the property, can […]

The best part of writing about mortgages is that I get the chance to educate people about a topic which I find endlessly interesting. Reverse mortgages are certainly a topic which deserves some consideration. Everyone seems to be quite polarized over this issue so it seems it is past time we took a closer look. […]

From the pages of the summer edition of Dominion Lending Centres’ Our House Magazine. For most Canadians, a home comes in just a few different varieties. It’s either a single-family wood frame house, townhome, condo or high-rise. In the quest to find less expensive housing, alternatives to the conventional home were bound to get serious […]

Mortgage rules have become stricter over the past few years. Assuming you have a down payment, good credit and a good job, what could prevent you from obtaining financing for a home purchase? Below are five less obvious reasons a bank may turn you down: It’s not you, it’s the building Hate to be the […]

At some point in their lives, most Canadians have probably asked themselves whether it is better to buy or rent a home. Purchasing a home is one of the biggest decisions most people ever make so the impacts of the decision can be HUGE. Ultimately, the decision is a personal choice, but it helps to […]