I receive calls every month from people who want to know how to qualify for a mortgage because they were declined by their bank. In many cases I can help them and in some cases they have to wait – but we identify what they need to do to get in a better situation to […]

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 home buyer if you […]

In hot real estate markets, it’s common for both buyers and agents to consider having no subjects to financing when making a purchase offer. It’s important to realize, however, that no professional is in a position to legally advise you to enter into a real estate transaction with no subjects, especially no subject to financing. […]

Before home buyers go shopping for a home, it is important to know what you can afford before you buy. It is becoming more common for home buyers to make an offer, get declined for the mortgage and the deal collapses. This is stressful for everyone involved, including the buyer, the seller and the realtor. […]

This is a sequel to This vs That, which I published last week on the Dominion Lending Centres website. A good idea always has an encore presentation. Heck, Rambo was so good they made another four movies. Here are a handful of additional terms used in the real estate and mortgage industry and hopefully the explanation will provide some […]

I have heard from many people that mortgages are boring. I completely agree! If I was building a rocket or a doctor saving a life, that would be exciting. But I don’t build rockets and I’m not a doctor. I just set up mortgages. They’re uneventful, and require a large amount of money you have […]

Beware of the term PRE-APPROVAL! Here are some facts: Pre-approvals mean something different to every mortgage professional and lending institution For mortgage approvals both the applicants AND the property they are buying need to be adjudicated and approved before funds are advanced…detailed borrower information and documents are typically required for a full pre-approval, however property […]

With the Bank of Canada announcement today, have you ever wondered who the Bank of Canada is and what is its role in our economy? The Bank of Canada is the country’s central bank. Its role, as defined in the original Bank of Canada Act of 1934, is “to promote the economic and financial welfare of Canada. “ […]

Versus (vs) – as compared to or as one of two choices; in contrast with. At least once a day I get asked, what’s the difference between ‘this’ and ‘that’? With this in mind I put together some content that will hopefully provide some clarity in regards to  a few of the more commonly asked […]

Whenever interest rates drop or housing values jump, a refinancing frenzy follows. Whether you are looking to trim your mortgage payments, eliminate credit card debt or renovate, experts say you should fully understand all the options available to you before deciding to refinance. Here are some common pitfalls that consumers can avoid when refinancing: 1. […]