The Blog
What is a Variable Rate Mortgage? Variable rate mortgages fluctuate with the prime rate. They are traditionally priced at a lower rate than the current fixed options, but if prime goes up so does the rate. That being said if prime goes down you benefit from that. The one ace in the pocket is that…
October 21st, 2016
That’s the dream isn’t it? To be mortgage free and own your own home. Just imagine what you could do with all the extra money on a monthly basis. Many Canadians hold a mortgage, credit card, or student loan and the latest numbers from Statistics Canada show that for every dollar we bring in of…
April 14th, 2016
Looking for a variable rate mortgage or a fixed rate mortgage but can’t decide? Ask yourself one question – Do you like consistency or the chance to pay less? This is one of the most common questions we field at Dominion Mortgage Professional and one that our brokers have come to answer time and time…
January 19th, 2016
The short answer – No. But that’s not to say all hope is lost if you don’t have the down payment you need for the home you want. There’s no such thing as a no down payment mortgage in Canada anymore and it’s been that way since 2012. However there’s a different way to help…
December 21st, 2015
Home Buyer’s Plan: Understand Your Investment Brad and Brenda have been putting some money in their RRSPs investments for the last four years. Their last statement shows that they have $12,500 in their RRSP’s savings, and they also have $5,000 in the bank in their savings account. They decided to buy a starter home in…
November 16th, 2015
Broker vs. The Bank As a former personal banker, and now mortgage broker, I’ve seen both sides of the mortgage rate fence. And trust me when I say, going with a mortgage broker will save you energy, time and money. We have over 30 lenders, the best mortgage rates, and best products to offer our…
October 30th, 2014
Choosing the mortgage term that’s right for you can be a challenging proposition for even the savviest of homebuyers, as terms typically range from six months up to 10 years.By understanding mortgage terms and what they mean in dollars and sense, you can save the most money and choose the term that is best suited…
September 3rd, 2013
This is a question I’ve been asked numerous times over the past 8.5 years. When I first entered the industry I used to answer this by informing clients a broker works for you and not the lender, better rates typically, and free to use. Now in my mind that should be enough to convince a…
May 2nd, 2013
Mortgages can be a confusing subject. Buying or selling a home is an emotional decision and can be very stressful. As a mortgage expert, I will take the confusion out of mortgages and make the process as smooth as possible. In Canada, there are two major categories that mortgages fall into, either closed or open.…
November 7th, 2011
In Canada, there are many benefits to owning your own home, here’s our list of the top five: 1. Tax breaks. The Canadian government offers a variety of tax breaks and credits for homeowners that you can take advantage of. 2. Gains Generally, in Canada, we’ve seen steady growth in land and home values year…
November 7th, 2011
