Author: Geoff Lee

20 Oct 2017

New mortgage changes decoded

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

This week, OSFI (Office of the Superintendent of Financial Institutions) announced that effective January 1, 2018 the new Residential Mortgage Underwriting Practices and Procedures (Guidelines B-20) will be applied to all Federally Regulated Lenders. Note that this currently does not apply to Provincially Regulated Lenders (Credit Unions) but it is possible they will abide by Read More

13 Oct 2017

What is an interest rate differential (IRD)? How do you calculate it?

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

A mortgage in its simplest form is a contract. It has terms, conditions, rights and obligations for you and the lender. When you sign on the dotted line, you are agreeing to those terms for the length of time laid out in the contract. However, sometimes life throws us an unexpected event that brings around Read More

5 Oct 2017

Go Green & Save!

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

We all do different things to go green in our day to day life: using reusable shopping bags, biking instead of driving, re-using water bottles… you name it. All of the various steps we take to minimize our environmental foot-print give us the satisfaction of knowing we are working towards a greener tomorrow-but how often Read More

22 Sep 2017

Mortgage changes are coming—are you prepared?

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

We know – more changes?! How can that be! With this ever-changing landscape, mortgages continue to get more complicated. This next round of changes is predicted to take affect this coming October 2017 (date not yet available). These new rules contain three possible changes, the most prominent being the implementation of a stress test for Read More

15 Sep 2017

How to Invest in Canadian Real Estate-From abroad

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

Just because you are a Canadian citizen living abroad doesn’t mean that you are exempt from the rules for foreigners buying real estate in Canada. Foreign ownership applies if: • You don’t reside in Canada for more than 6 months a year (even if you are Canadian) • You don’t report your working income to Read More

21 Aug 2017

Everything you Need to know about Reverse Mortgages

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

Wouldn’t it be wonderful to be able to have money to do more of the things you love? To be able to have the freedom to pursue things you truly enjoy, especially in your Golden Years? Enter in a CHIP Reverse Mortgage! A Reverse mortgage is a simple and sensible way to unlock the value Read More

2 Aug 2017

Understanding how Bridge Financing Works

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

Sometimes in life, things don’t always go as planned. This could not be truer than in the world of Real Estate. For instance, let’s say that you have just sold your home and purchased a new home. The thought was to use the proceeds of the sale of your house as the down payment for Read More

17 Jul 2017

How to Shop for a Mortgage

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

For many people, a home will be the largest purchase of their life. It stands to reason then, that when you are shopping around for your mortgage you will want to take certain steps to ensure you are getting the sharpest rate and best product. We have a few pointers to make you a savvy Read More

30 May 2017

What is refinancing and how it will change your credit?

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

The need to refinance your mortgage can be for many reasons. Whichever the reason you are refinancing, there are a few things to consider. One of the top questions we are asked as a Mortgage Broker is “will refinancing hurt my credit?” The answer to this question brings cause for a closer look at the Read More

26 May 2017

How mortgage rates work

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

Ever wonder how your mortgage rate is determined? What factors make it jump from percentage to percentage? We are getting down to the nitty gritty today and giving you the facts on what impacts mortgage rates. What affects a Mortgage Rate? There are 10 factors that affect a mortgage rate: 1. Location Depending on which Read More

  • Residential Mortgages

    The purchase of a home is the largest purchase most people make during their lifetime. At Dominion Lending Centres, we want to make each and every purchaser aware of the many mortgage options available to them prior to their purchase and closing date.
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  • Commercial Mortgages

    Dominion Lending Centres Commercial has established excellent relationships in the lending community with pension funds, banks, credit unions, life insurance companies, trust companies, private institutions and individual investors.
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