MORTGAGES ARE LIKE COFFEE The most common question we get for mortgages is “what is your best rate?” Now imagine we walked into our local coffee shop and asked “what is your best price?” Doesn’t happen. There are all kinds of different coffees and lots of ways to make them. The same goes for mortgages. […]

THE FED’S QUARTER-POINT RATE CUT NOT THE START OF SOMETHING BIG The Federal Open Market Committee (FOMC) cut the overnight target rate by 25 basis points as expected today. Chairman Jerome Powell, however, said it was designed to “insure against downside risks” rather than to signal the start of multiple rate cuts. President Trump called […]

CREDIT REPORTS: YOU’VE SCORED! BUT ARE YOU PLAYING THE GAME? For most people, your personal credit score and how a credit score is calculated are complete mysteries. How can you be expected to play and be successful if you aren’t even told the rules of the game? There are things borrowers can do to improve […]

4 WEIRD THINGS LENDERS ASK FOR A number of times I have had people who wonder why they need to provide so much documentation when it comes to arranging a mortgage. Besides an employment letter, you are usually asked to provide a pay stub and your most recent Notice of Assessment (NOA) to prove income. […]

QUALIFYING MORTGAGE RATE FALLS FOR FIRST TIME SINCE B-20 INTRO The interest rate used by the federally regulated banks in mortgage stress tests has declined for the first time since 2016, making it a bit easier to get a mortgage. This is particularly important for first-time homeowners who have been struggling to pass the B-20 […]

20 TERMS THAT HOMEBUYERS NEED TO KNOW Buying a home is one of the most important financial decisions you will make. It’s common for a first-time homebuyer to be overwhelmed when it comes to real estate industry jargon, so this BLOG is to help make some of the jargon understandable. To help you understand the […]

WE CAN FIX YOUR CREDIT PROBLEMS Many people do not realize that Dominion Lending Centres mortgage professionals can help you with your credit and get you to a point where you will qualify for a mortgage. We have been doing this for years. New to Canada or Just Graduated – both of these groups of […]

MILLIONAIRES AND REAL STATE Andrew Carnagie was one of the richest men in America over 100 years ago. Today his wealth would be worth $4.6 billion dollars. He was a shrewd businessman. While he made most of his money in oil and iron, he understood the value and importance of real estate in building wealth. […]

TECHNOLOGY IN MORTGAGES AND REAL ESTATE Technology is already playing a huge role in the mortgage industry. In the past, mortgage applications had to be physically taken by hand and faxed in (what’s fax anyways?!)… It may soon by possible, with technology’s help, for borrowers to be able to fill out their own application and […]

MORTGAGE BROKER HISTORY AND MORTGAGE APPLICATIONS In the past, we had banks (bank as a catch all for credit unions and trust companies) and Mortgage Brokers. Writing mortgage applications is extremely difficult; there are a lot of moving parts in a mortgage. Because of this, banks employ mortgage specialists whose sole role is to provide […]