Author: Mark Alltree

4 Mar 2016

The Shocking Impact of Consumer Debt Payments and How To Overcome This Significant Home Ownership Barrier

Posted by: Mark Alltree

Dominion Lending Centres - Accredited Mortgage Professional

Savings, market value and government guidelines are obvious obstacles but in my opinion, one topic that doesn’t get discussed in enough detail is consumer debt payments. First a quick definition: Disposable income, is described as total personal income minus current income taxes. Essentially, your take-home-pay. Here’s a “live” case study. This consumer has $62,601 in Read More

15 Feb 2016

Today’s the Day the Government Has Changed Your Home Down Payment Requirements

Posted by: Mark Alltree

Dominion Lending Centres - Accredited Mortgage Professional

Here are answers to some frequently asked questions on the government changes to down payment requirements that take effect today, February 15, 2016. If you recall from my last video, the down payment requirement has increased from five per cent, to ten per cent for the portion of the purchase price above $500,000, but less than Read More

14 Dec 2015

Changes To Down Payment Requirements Coming February 15, 2016

Posted by: Mark Alltree

Dominion Lending Centres - Accredited Mortgage Professional

On Friday, Finance Minister Bill Morneau announced changes to down payment requirements. Effective February 15, 2016, the minimum down payment for new insured mortgages will increase from five per cent to 10 per cent for the portion of the house price above $500,000. The five per cent minimum down payment for properties up to $500,000 remains Read More

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