Every time you apply for a new mortgage, your application has to stand on its own merit. Just because you were approved for a mortgage in the past doesn’t guarantee you will be approved for a mortgage in the future. Every application is its own thing! It doesn’t matter if you have have been […]

As a matter of fact I have been thinking of a testimonial, I’ve just been quite busy.  Here is our story, pick out whatever part you like.  I hope reading it give you folks a smile.   We got our down payment through a gift of inheritance, we never even considered that with housing prices […]

10 things to know about the 2016/17 provincial budget: 1. Buyers of newly-built homes worth up to $750,000 will be exempt from the property transfer tax, saving up to $13,000, effective Wednesday (only for Canadian citizens or permanent residents). 2. The new home tax exemption will only apply to people who actually live in the […]

Dec 31st 2015 Vancouver, BC – Dominion Lending Centres (DLC), Canada’s top mortgage company, is proud to announce its acquisition of Mortgage Architects, a leader in the Canadian mortgage space. DLC will keep all three of its brands (Dominion Lending Centres; Mortgage Centre Canada; Mortgage Architects) and run each of them alongside one another.   […]

Official Release from the federal goverment: http://www.fin.gc.ca/n15/15-088-eng.asp  Frequently asked questions: http://www.fin.gc.ca/afc/faq/hdpmeh-mfperpc-eng.asp Chart showing amounts required below

New down payment rules will go into effective February 15, 2016. The minimum down payment for new insured mortgages will increase from 5% to 10% for the portion of the house price above $500,000, the finance ministry wrote. For example: A $750,000 home will now require $50,000 down — 5% for the first $500,000 and 10% […]

Mortgage Penalties… How They Should Be Calculated Let me say this first, before we get to the whole rip-off thing… Mortgage penalties are necessary. The bank has to protect their investment if you were to end up breaking off the mortgage early. I mean, this makes sense. It’s the nature of a loan. What doesn’t […]

Courtesy of the Globe & Mail In early 2013, Kelly Vandenham and her boyfriend were preparing to put an offer on a charming Craftsman-style house in West Kelowna, B.C. They had been preapproved for a mortgage with Canadian Imperial Bank of Commerce, but the couple’s realtor suggested they could get a lower interest rate at […]

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      Interest Rates & Payment Increases: The Actual Math                   For several years headlines have warned of ‘inevitable’ interest-rate hikes. But reality has seen interest rates drop steadily over the past several years, to new record lows. It is the opinion of most Brokers – […]