Resources

Are Lenders Obligated to Renew Mortgages?

Are Lenders Obligated to Renew Mortgages?

It's a common held belief that if you've made your mortgage payments on time throughout the entirety of your mortgage term, that your lender is somehow obligated to renew your mortgage. This is simply not the case. The truth is, a lender is never under any obligation...

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How Can I Pay Down My Mortgage Faster?

How Can I Pay Down My Mortgage Faster?

Although getting a mortgage is exciting as it allows you to become a homeowner, a mortgage is, in fact, a lot of debt. So if you have a mortgage, your goal should be to get rid of it as quickly as possible. Here are four things you can do to help pay off your mortgage...

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Tips for Homebuying with Family Members

Tips for Homebuying with Family Members

Pooling resources with parents or siblings opens possibilities when it comes to buying a home everyone can afford. Homebuying requires careful planning though, since there’s so much at stake—and money is the least of it; we’re talking love and loyalty here. If you...

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Bank of Canada Rate Announcement April 24th, 2019

Bank of Canada Rate Announcement April 24th, 2019

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. Global economic growth has slowed by more than the Bank forecast in its January Monetary Policy...

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Protecting your pre-approval

Protecting your pre-approval

People mistakenly believe once they’ve been pre-approved or approved by a lender it’s all done. But what they don’t realize a lender may pull their credit 30 days prior to close. They also don’t realize lenders can request updated documents in that time. And, if some...

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What’s in the New Federal Budget for Homebuyers?

What’s in the New Federal Budget for Homebuyers?

Leading up to the latest federal budget release on March 19th, there was a lot of anticipation from homebuyers – particularly Millennials looking to purchase their first homes with concerns of affordability top of mind. Two key first-time homebuyer perks were tabled...

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Deposit vs Downpayment

Deposit vs Downpayment

As part of the mortgage and real estate processes, there’s a lot of confusion around the differences between the deposit and the downpayment. It's important to understand what sets them apart so you don’t get confused when it’s time to secure financing on a property...

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How Does Debt Impact Mortgage Qualification?

How Does Debt Impact Mortgage Qualification?

Understanding the way debt – especially unsecured debt – comes into play when qualifying for a mortgage can be unclear for many borrowers. You have zero credit card debt, but you pay $300 a month to finance your car. That makes you much more desirable than your...

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Bank of Canada Rate Announcement Mar 6th, 2019

Bank of Canada Rate Announcement Mar 6th, 2019

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. Recent data suggest that the slowdown in the global economy has been more pronounced and widespread...

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Deposit vs Downpayment

Deposit vs Downpayment

As part of the mortgage and real estate processes, there’s a lot of confusion around the differences between the deposit and the downpayment. It's important to understand what sets them apart so you don’t get confused when it’s time to secure financing on a property...

read more
Mortgage Documentation, Plan Ahead!

Mortgage Documentation, Plan Ahead!

Collecting the right documentation to prove you are a worthy candidate to borrow a lot of money to buy a property can be an arduous task. The most recent government rule changes and tightening of mortgage qualification isn't making things easier. If you seem to think...

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Dan Caird

dancaird@dominionlending.ca
905-213-1475

1935 Leslie Street
North York, Ontario M3B2M3
Canada
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