DLC BLOG Documents you need for your mortgage pre-approval Being fully pre-approved means that the lender has agreed to have you as a client (you have a pre-approval certificate) and the mortgage broker has reviewed and approved ALL your income and down payment documents (as listed below) prior to you going house hunting. Many bankers […]

DLC BLOG Growing marijuana and selling your home There is quite a bit of information being passed around about growing marijuana in your home that could or will prevent the sale of your property down the road. CMHC is Canada’s federally owned mortgage insurer. As of October 25, 2018, their stance on homes that were […]

DLC BLOG Demand Loan vs. Term Loan. What’s the Difference? What’s the difference between a Demand Loan and a Term Loan? A recent commercial mortgage refinancing I was involved with resulted in a discussion around Demand Loans. What are they exactly, and how they might typically differ from a term loan? A demand loan is […]

DLC BLOG 7 Tips for Buying Your First Home As a licensed Mortgage Broker, I am often asked “what do I need to know when buying my first home?” Everyone has their own aims and objects when buying their first home. As a Mortgage Broker, I specialize in making sure your financing is in order […]

Dr. Sherry Cooper – Chief Economist, Dominion Lending Centres Poloz Rate Hike Had A Hawkish Tone As was universally expected, the Bank of Canada’s Governing Council hiked overnight rates this morning by 25 basis points taking the benchmark yield to 1-3/4%. This marked the fifth rate increase since the current tightening phase began in July […]

DLC BLOG Rates On The Rise Both Variable & Fixed With the Bank of Canada in a mood to raise rates, it’s a similar feeling for the bond market, which impacts fixed rates. In every interest-rate market there are many factors leading to an increase and we are hoping to provide a little bit of […]

DLC BLOG Are you behind on your CRA taxes? Nothing weighs heavy on one’s shoulders than owning a home and getting behind on your Canada Revenue taxes. Most banks will not be able to help you refinance your home to pay them off as CRA has first dibs on your house and assets. We have […]

DLC BLOG 7 things every self-employed individual should know — Before you apply for a mortgage Self-employed individuals are quickly becoming one of the most common clients that we handle. Daily we have successful business owners come into our offices who enjoy the perks of being an entrepreneur. One of these includes fantastic write-offs that […]

DLC BLOG Your HELOC and declining property values Home Equity Lines of Credit (HELOC) for many years have been a way for Canadians to unlock equity in their homes and use the money for investing, paying for children’s education or quite simply lowering their monthly interest payments on high interest credit cards. This is all […]

DLC BLOG Bank or Mortgage Broker? Mortgages are like vehicles. A bank is similar to the brand, Ford or Toyota for example. How long you have a mortgage before it’s time to renew is like the model, a Fusion or Camry. The rate is similar to the car’s paint color, and the mortgage benefits such […]