Principal and interest are the two components that make up a mortgage payment. Principal is the portion of your payment that goes towards paying down the outstanding balance of your mortgage. Interest is the other portion of your payment which goes directly into the pockets of your lender and does not contribute to paying down […]
Mortgage renewals with the same lender are on the rise, but should you just sign on the dotted line? If you’re in a mortgage that’s coming up for renewal in the coming months and you’re considering just staying with your current lender, you wouldn’t be alone. According to the Canadian Mortgage and Housing Corporation’s (CMHC) […]
Bank of Canada Holds Policy Rate Steady Amid Global Uncertainty It is rare for the Bank of Canada and the US Federal Reserve to announce rate decisions on the same day, but today’s announcements highlight the stark differences in policy in the two countries. The Bank this morning announced they would maintain their target for […]
6 Things all Co-signors should consider Co-signing on a loan may seem like an easy way to help a loved one (child, family member, friend, etc. ) live out their dream of owning a home. In today’s market conditions, a co-signor can offer a solution to overcome the high market prices and stress testing measure. […]
5 Mistakes First Time Home Buyers Should Avoid Buying a home might just be the biggest purchase of your life—it’s important to do your homework before jumping in! We have outlined the 5 mistakes first time homebuyers commonly make, and how you can avoid them and look like a Home Buying Champ. 1. Shopping Outside […]
What does happen when you close your credit card account? Read below to find out! I have been working in the mortgage industry since 2005. I have had all sorts of clients over the years. Every once in a while I get someone who has a car loan , a couple of credit cards but […]
Have you ever wished for a simplified guide on how to actually GROW your credit score? Well today is your lucky day! We have had years of experience working with individuals who come to us with poor or damaged credit and we have found 7 steps that prove to be tried and true in fixing […]
Don’t let the new mortgage stress test rules stress you.. There are options Mortgage brokers have solutions A lot of people are getting stressed out by Canada’s new mortgage stress test. In the past, if you had a good sized down payment (ie 20%) someone with a low income could purchase a home even if […]
Helpful information about second mortgages! Many homeowners are vaguely aware of the fact that you can take out a second loan on your home. You hear your friends mention it or perhaps a family member close to you has gone through the process—but do you truly know what it means to take out a second […]
Dominion Lending Centres launches new app My Mortgage Toolbox For Immediate release August 8th, 2018 Vancouver, B.C. – The nation’s leading mortgage company is making it easier for consumers to navigate the Canadian mortgage landscape. My Mortgage Toolbox is a new mobile app from Dominion Lending Centres designed to be a pocket-sized mortgage guide for […]
