Author: Len Anderson

2 Nov 2015

Federal RRSP First-time Home Buyers’ Program

Posted by: Len Anderson

Dominion Lending Centres - Accredited Mortgage Professional

The Home Buyers’ Plan (HBP) is a program that allows you to withdraw up to $25,000 from your registered retirement savings plan (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability . You must be considered a first-time home buyer. You are not considered a first-time Read More

13 Oct 2015

Repaying Your Mortgage

Posted by: Len Anderson

Dominion Lending Centres - Accredited Mortgage Professional

Let’s face it, getting a mortgage is hard, but repaying a mortgage is harder. What is the best way to go about repaying? You say, as quickly as I can and with the least amount of interest! Good answer! Statistics tell us most folks repay their mortgage in less than 20 years. Okay how do Read More

7 Oct 2015

Caution: Mortgage Penalties and Early Exit

Posted by: Len Anderson

Dominion Lending Centres - Accredited Mortgage Professional

Okay so you have a mortgage. Let’s face it, it’s a contract with terms, conditions, rights and obligations for both you and the lender. However, now for whatever reason you need or want to break the contract before the end of the term. Many mortgage lenders will allow this provided they are compensated. You have Read More

16 Sep 2015

What Amortization Should I Have On My Mortgage?

Posted by: Len Anderson

Dominion Lending Centres - Accredited Mortgage Professional

Short answer: the longest possible amortization you can get! However, the goal is to get the longest amortization possible, but then increase the payment or make lump sum payments to move the amortization to the lowest possible and therefore be mortgage free faster. I will explain more later. Amortization is the total authorized repayment period Read More

3 Sep 2015

  • 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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