Author: Michael Hallett

6 Nov 2018

No need to panic after rate increase

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

  You may have already seen the more technical BANK OF CANADA RATE ANNOUNCEMENT on October 24th, or you may not have. The Coles Notes (the simplest version) are as such: Global economy remains strong, the USMCA will reduce trading uncertainty Canadian economy is balanced for the foreseeable 2 years Household spending will increase, but Read More

5 Jun 2018

Reverse Mortgage – Common Uses

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

Here is the final blog in the REVERSE MORTGAGE series. If you missed the first two, you read them here and here: Eliminate mortgage payment – Retired, or wanting to retire, but still have a mortgage and mortgage payment to make? Use a reverse mortgage to pay off the traditional mortgage, getting rid of that Read More

27 Apr 2018

Reverse Mortgage – the pros and cons

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

You may be seeing and hearing a lot more regarding the Reverse Mortgage in today’s marketplace. I have taken the time to get familiar with the program here in Canada and have been quite surprised by how it’s changed and how different it is to its counterpart in the U.S. and how relevant it has Read More

29 Mar 2018

Reverse mortgage – Some common misconceptions

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

The words reverse mortgage carry some negative connotation. What does it really mean? What makes reverse mortgage different than a regular or demand mortgage in Canada? There are no payments required if 1 applicant lives in the home. Payments can be made if they wish, they are truly optional. No medical required and limited income Read More

7 Mar 2018

Time For A Mortgage Renewal

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

Is your mortgage coming up for renewal this year? There is a good chance that you or someone know has a mortgage coming due. Some 47% of Canadians, almost one out of every two households, that currently have financing in place will mature within the next 12 months with a major lender in Canada. Here Read More

15 Nov 2017

I’ve never heard of that lender before

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

One of the benefits of working with an independent mortgage professional; compared to getting your mortgage through a single institution, is choice. And as there are even more mortgage rules coming into place January 1st 2018, now more than ever, having access to a wide variety of mortgage products is going to ensure you get Read More

6 Nov 2017

You just got a mortgage. Now what?

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

Mortgages are a funny thing. On the one hand they allow you to become a home owner without saving up enough money to purchase the home outright, which is a really good thing. On the other hand, even at today’s really low interest rates, as they are amortized over a really long time (most of Read More

2 Nov 2017

The New Normal

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

’Tis the season… this was no surprise here! The latest round of mortgage guidelines has been announced by OSFI, or Office of the Superintendent of Financial Institutions. As of January 1, 2018, all conventional or uninsured mortgages will have to qualify at the Bank of Canada 5-year fixed rate or the contractual rate + 2%, Read More

26 Oct 2017

Payment frequency, does it really make a difference?

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

It has been said that there are two certainties in life; death and taxes. Well, as it relates to your mortgage, the single certainty is that you will pay back what you borrowed, plus interest. However, how you make your mortgage payments, the payment frequency, is somewhat up to you! The following is a look Read More

2 Oct 2017

Don’t assume anything when dealing with mortgage financing

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

A lot of people get into hot water when they assume that because they’ve qualified for a mortgage in the past, they will qualify for a mortgage in the future. This article has one point to make and it’s this: Don’t assume anything when dealing with mortgage financing! And if that’s all you take away, 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.
    Learn More
  • 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.
    Learn More