Mortgage Blog

Category: Mortgage Tips & Advice (142 posts)

How to Choose the Right Real Estate Agent

December 18, 2024 | Posted by: Angela Robinson

Buying or selling a home is a major financial decision, and the right real estate agent can make all the difference. A great agent will simplify the process, advocate for your interests, and help you ...

3 Mortgage Refinance Pitfalls to Avoid This November

November 13, 2024 | Posted by: Angela Robinson

Mortgage rates have been on a rollercoaster recently. In September, they dipped toward 6% before climbing back up in October. As of October 31, the average 30-year mortgage rate was at 6.72%, and whil ...

As a first-time homebuyer you can now stretch your mortgage to 30 years. But is that a good idea?

October 30, 2024 | Posted by: Angela Robinson

With Canadian home prices remaining high, homeownership feels out of reach for many prospective buyers. According to a CIBC survey, 76% of Canadians who haven't purchased a home believe they may never ...

Is Breaking Your Mortgage for a Lower Rate Worth the Penalty?

October 2, 2024 | Posted by: Angela Robinson

With interest rates falling, many homeowners are tempted to break their current fixed-rate mortgages to lock in a lower rate. While the idea is appealing, it’s crucial to understand the potentia ...

Choosing Between a 3-Year and 5-Year Mortgage: What You Need to Know

August 7, 2024 | Posted by: Angela Robinson

With interest rates remaining high but on a downward trajectory, choosing the right mortgage term is crucial. Here’s a quick guide to help you decide between a 3-year and a 5-year mortgage, cons ...

Navigating Mortgage Renewal in a Changing Interest Rate Landscape

July 31, 2024 | Posted by: Angela Robinson

With interest rates starting to ease after a period of highs, Canadian mortgage holders up for renewal have a chance to re-evaluate their options. Here's a concise guide to help you navigate this impo ...

3 Tips to Help First-Time Buyers Put Together a Down-Payment

March 27, 2024 | Posted by: Angela Robinson

Ready to dive into the world of real estate? It's thrilling, but let's face it, it can also be a tad overwhelming for first-timers. Here are our top 3 tips to help you kickstart your journey: 1. Esta ...

Conquer First-Time Home-Buying Anxiety

January 17, 2024 | Posted by: Angela Robinson

The dream of owning a home is becoming a reality for more families, with existing-home sales reaching a peak in 2021, the highest since 2006, according to data from the Nationa ...

Can I Be Denied A Mortgage After Pre-Approval?

November 22, 2023 | Posted by: Angela Robinson

Pre-approved for a mortgage? Think you're all set? Not so fast! Here's a quick guide to avoid mortgage denial after pre-approval. Reasons a Mortgage Can Be Denied After Pre-Approval: 1️⃣ Ch ...

Considering a Reverse Mortgage? Here's what you need to know!

November 15, 2023 | Posted by: Angela Robinson

if you're 55 or older, a reverse mortgage can offer a way to access your home equity. However, it's crucial to weigh the pros and cons before diving in. Pros: ✅ No need to sell your home or make p ...

Thinking of an alternative lender? What it could mean for your mortgage

November 2, 2023 | Posted by: Angela Robinson

Canadians are increasingly turning to private lenders for mortgages due to economic conditions that make it harder to qualify for traditional loans, especially with high interest rates. The Bank of Ca ...

Navigating Mortgages During Separation or Divorce: Key Considerations

September 27, 2023 | Posted by: Angela Robinson

Going through a separation or divorce is undoubtedly challenging, and it can have significant implications for your financial future, especially when it comes to mortgages. Here are some crucial consi ...

How to Choose a Competent Mortgage Broker

September 20, 2023 | Posted by: Angela Robinson

Evaluating whether a mortgage broker is proficient involves considering several key factors. Here are some indicators to help you determine if a mortgage broker is reputable and competent: Re ...

Answers to Our Top Four Most-Asked Questions

August 24, 2023 | Posted by: Angela Robinson

1. 'What is your best rate?' It's natural to want the best possible rate for your mortgage, but it's important to note that rates are dynamic and can be influenced by various factors. Your specific ...

Tune In!

July 17, 2023 | Posted by: Angela Robinson

Exciting News! Marc Crossman will be LIVE on CBC Radio Edmonton AB tomorrow, discussing the current mortgage market and how increased rates are impacting consumers! Marc has been featur ...

Unlocking the Potential: Exploring Mortgage Refinancing in Canada

July 5, 2023 | Posted by: Angela Robinson

Have you ever wondered how refinancing a mortgage can work for you? If you're a homeowner looking to make the most of your financial opportunities, refinancing might be the key to unlocking greater be ...

5 Answers From Your Mortgage Broker

June 15, 2023 | Posted by: Angela Robinson

Following from our post last week, here are our answers to those questions. How are you compensated? Lenders compensate mortgage brokers with a commission for facilitating mortgages through their ...

5 Questions to Ask Your Mortgage Broker

June 7, 2023 | Posted by: Angela Robinson

If you're in the market for a new home, whether that’s a house or condo, you may also need a mortgage broker to help with the process and securing a mortgage. To find the right mortgage broker f ...

Rent to Own: Proceed with Caution!

May 31, 2023 | Posted by: Angela Robinson

Let's talk about a real estate option that seems appealing but often ends up being a questionable choice for tenants/renters: Rent-to-Own agreements. Here's why you should tread carefully when conside ...

6 Signs it's Time to Buy a House

February 15, 2023 | Posted by: Angela Robinson

Many people dream of having their own house at some point. Owning a home is an excellent way to build financial security and equity. And while renting gives you the freedom to move when you want, the ...

Fear Factor

February 8, 2023 | Posted by: Angela Robinson

Watch for DIY jobs Anything that has to do with the structural integrity or safety of your home should be left in the capable hands of a professional. It will end up costing you more to have someone ...

Pros and Cons of Banks Versus Mortgage Brokers

January 25, 2023 | Posted by: Angela Robinson

Here are some of the differences between banks versus mortgage brokers, their pros and cons, and how to figure out which is best for you. Disadvantages of Banks - Banks only offer their own produc ...

Documents You'll Need To Get A Loan

September 5, 2022 | Posted by: Marc Crossman

When you apply for a mortgage, your loan officer will request certain documents to provide insight into your financial situation and needs. Here are some examples of the documents you may be ask ...

5 Common Mistakes Canadians Make With Their Mortgages

August 22, 2022 | Posted by: Marc Crossman

Given the slew of new mortgages taken out in 2020, there were bound to be slip-ups. Here are the mistakes Canadians most frequently make when securing a home loan. Mistake 1: Not having your ...

3, 5, or 10 years? How to decide which mortgage term is right for you?

July 11, 2022 | Posted by: Marc Crossman

Choosing a term is one of the most important decisions you’ll make entering Canada’s scorching housing market. 3-year The best advantage of a 3-year is a shorter timeline in case ...

Reverse mortgages â€“ a good or bad choice?

July 4, 2022 | Posted by: Marc Crossman

A reverse mortgage allows homeowners aged 55 and up to borrow a portion of their home equity today, while still staying in their homes.The rising number of seniors buying reverse mortgages is due to e ...

3 Is the Magic Number When It Comes to Buying a House. Hereâ€™s Why

May 30, 2022 | Posted by: Marc Crossman

Here is what you need to know before buying your first home — and why these things always seem to come in threes. Review reports from all 3 bureaus Lenders use 3 ...

What Is A Reverse Mortgage?

April 18, 2022 | Posted by: Marc Crossman

Typically, when tapping into your home’s equity, one uses a home equity line of credit (HELOC) or refinances their mortgage. What if we told you this was not the only way to free up home equity ...

Tax Tips for Your Home Purchase, Build, Sale, or Renovation in 2021

April 11, 2022 | Posted by: Marc Crossman

If you bought, built, sold or renovated a home in 2021 here are some helpful tips and information to get you ready for this tax-filing season. Claim $5,000 on your tax return: ...

Mortgages 101:

April 4, 2022 | Posted by: Marc Crossman

Here is The Globe & Mail’s crash course guide on mortgages for everything from the basics like what a mortgage is, or the difference between a fixed and variable rate to payment strategies, ...

How to Use Your RRSP to Buy a Home in March 2022

March 28, 2022 | Posted by: Marc Crossman

Have you been forced to continue renting, paying your landlord more money in rent than your mortgage would be?Many Canadians simply don't have access to the required funds for a down payment in a trad ...

Estate Planning Do's and Don'ts According to the Pros

March 7, 2022 | Posted by: Marc Crossman

Estate planning can be confusing for people, as they may not know what is right to do when it comes to their estate. Keep reading for more information! Do Your Research This means that you n ...

Winterizing Tips for Homeowners

November 29, 2021 | Posted by: Marc Crossman

Fall seems to come and go in the blink of an eye. Is your house ready for the freeze? Here are six tips homeowners should consider doing to prepare for the winter months ahead. 1. Clean the ...

Save On Your New Home

November 22, 2021 | Posted by: Marc Crossman

Closing on your home is a major milestone moment, and something to be very proud of. The home-buying process can also be overwhelming, but don't fret! There are ways to save thousands of dollars on ...

Buying A Home This Fall?

November 8, 2021 | Posted by: Marc Crossman

As summer comes to an end, the real estate market is still hot. So, are you looking to buy a home this fall? 1. Mortgage Rates Remain Low Rates remain low compared ...

Make A Competitive Offer

November 1, 2021 | Posted by: Marc Crossman

If you’re interested in purchasing a new home, but struggling to make a competitive offer, you’re not alone. Due to the current market conditions, it’s critical that you k ...

Home Improvements While On A Budget

September 27, 2021 | Posted by: Marc Crossman

Purchasing a home is only the beginning of homeownership! Let’s discuss what investments may be worth making, and how to do so while sticking to a budget. 1. Kitchen is King ...

Alberta Mortgage Professional's Home Buyer's Guide

September 20, 2021 | Posted by: Marc Crossman

Making an informed decision regarding your mortgage financing can be overwhelming. Alberta Mortgage Professionals has created a Home Buyers Guide that we send to all of our clients to provide that b ...

Questions to Ask Before Buying a Home

August 30, 2021 | Posted by: Marc Crossman

Buying your first home can be one of the most important financial decisions you'll ever make. So, take the time to consider if you're truly ready to buy a home: 1. What Are Your Rea ...

Five Reasons to get Pre-Approved!

August 16, 2021 | Posted by: Marc Crossman

Whether you’re thinking of buying your first home or planning to upgrade or renovate, you’ll find there are great benefits to getting pre-approved for a mortgage. 1. A Mortgag ...

Mortgage Terminology 101

August 9, 2021 | Posted by: Marc Crossman

Thinking about buying a home? Then you may feel like you're encountering a whole new language. Here are a few terms that are helpful to know throughout the mortgage process: 1. An ...

Five Things to Avoid After You Apply for a Mortgage

July 19, 2021 | Posted by: Marc Crossman

Once you've completed your mortgage application, there are a number of action items that you should avoid so that you don't jeopardize your application. 1. Don't Quit Yo ...

Mortgage Application Rejected in 2020? How to Get Approved in 2021

June 28, 2021 | Posted by: Marc Crossman

When mortgage rates started dropping last year, buyers rushed to purchase new homes. If you attempted to do the same but were rejected, there a few moves on your part that could help you&nbs ...

Start Today, Not Tomorrow

June 21, 2021 | Posted by: Marc Crossman

If you plan on buying a home in 2021, this may be the best time to start the process. Despite the effect that COVID had on the market this past year, spring is a traditionally busy season for home sa ...

Are You Ready to Right-Size Your Home?

June 14, 2021 | Posted by: Marc Crossman

Are You Ready to Right-Size Your Home? No matter your stage in life, it may be time to right-size your home to better fit your family's needs. There ...

What Is The Positive Of Higher Mortgage Rates?

June 7, 2021 | Posted by: Marc Crossman

Higher mortgage rates are typically seen as a negative, but there are two sides to every coin and some of the positives may surprise, or even benefit you! Negatives Obviously, with h ...

Borrow Like Buffett

May 24, 2021 | Posted by: Marc Crossman

If you own your own home and haven't refinanced in 2020, why are you procrastinating? Mortgage rates are lower than ever, so you might easily chop down your interest rate and monthly payment. ...

Reverse Mortgage FAQ

May 17, 2021 | Posted by: Marc Crossman

Despite the fact that reverse mortgages have been in Canada since 1986, there is still a lot of misunderstanding. These are some of the most common questions. 1) Will the homeowner owe more than th ...

Easy Home Upgrades

May 10, 2021 | Posted by: Marc Crossman

Whether your budget is big or small there are many easy home upgrades that will elevate your living space!1. Update Cabinet HardwareCabinet handles and drawer pulls in the kitchen and bathroom ...

Setting Up Your HELOC

April 19, 2021 | Posted by: Marc Crossman

A Home Equity Line of Credit or HELOC, can be one of the greatest gifts you give yourself. Borrowing money against your home as you accumulate equity through a shrinking mortgage or ...

TOP 5 THINGS TO CONSIDER WHEN BUILDING YOUR NEW HOME

April 12, 2021 | Posted by: Marc Crossman

Building a new home – It’s something that many couples dream of. It can be an exciting, stressful, joyful, crazy time period that many walk away from saying “never again&rdqu ...

WHICH REALTOR SHOULD YOU USE?

April 5, 2021 | Posted by: Marc Crossman

Finding the best realtor for you involves doing some leg work. It can be overwhelming, kind of like choosing which ice cream you want to try! You go to the ice cream store and they have over 5 ...

9 REASONS WHY PEOPLE BREAK THEIR MORTGAGES

March 29, 2021 | Posted by: Marc Crossman

Did you know that 60 per cent of people break their mortgage before their mortgage term matures? Most homeowners are blissfully unaware that when you break your mortgage with your len ...

BREAKING A MORTGAGE â€“ CAN YOU DO IT?

March 22, 2021 | Posted by: Marc Crossman

Do you have a mortgage? So do I! Looks like we have something in common. Did you know that 6 out of 10 consumers break their mortgage 38 months into a 5-year term? That means that 60% of consu ...

MORTGAGE TERMINOLOGY YOU NEED TO KNOW

March 15, 2021 | Posted by: Marc Crossman

Prepayment, Portability and Assumability Prepayments One of the most common questions we get is about mortgage prepayments. The conditions vary from lender to lender but the nice thi ...

KEEPING YOUR CREDIT SCORE HEALTHY

March 8, 2021 | Posted by: Marc Crossman

If you haven’t seen your credit score, you’re not alone. Many of our clients don’t know about their credit score or even know what it is when we first meet with them ...

OPTIONS FOR MORTGAGE PAYMENTS

February 8, 2021 | Posted by: Marc Crossman

Once your mortgage has been funded by your lender, you need to decide on how frequently you want to make your mortgage payments. Most people want to pay off their mortgage as quick as possibl ...

WHAT ARE ACCELERATED PAYMENTS?

February 1, 2021 | Posted by: Marc Crossman

An accelerated payment is a mortgage payment that is increased slightly so that you can pay off your mortgage faster. There are two common types of accelerated payments: bi-weekly and weekly. ...

TIME FOR A MORTGAGE RENEWAL

January 25, 2021 | Posted by: Marc Crossman

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 househo ...

6 REASONS TO GET A HOME INSPECTION BEFORE YOU BUY

January 4, 2021 | Posted by: Marc Crossman

In an active housing market sometimes buyers are urged by their realtors to make an offer with no conditions. As a mortgage broker this always makes my heart skip a beat. I know from experienc ...

SELF-EMPLOYED? HEREâ€™S WHAT YOU NEED TO KNOW ABOUT MORTGAGES

December 28, 2020 | Posted by: Marc Crossman

Why, why, why it is so challenging for entrepreneurs to obtain a mortgage in Canada? If you’re among the 2.7 million Canadians who are self-employed, regrettably your income is not as e ...

MAKING SMARTER DOWN PAYMENTS

December 21, 2020 | Posted by: Marc Crossman

Mortgage Insurance Premiums. Many people know what they are- an extra cost to you the borrower. But not many people realize how they are calculated. Understanding the premium charges and how t ...

FIXED VERSUS VARIABLE INTEREST RATES

December 14, 2020 | Posted by: Marc Crossman

Fixed Interest Rates This is usually the more popular choice for clients when it comes to deciding on which type of interest rate they want. There are many reasons why, but the ...

6 HOME PURCHASE CLOSING COSTS

November 23, 2020 | Posted by: Marc Crossman

When you purchase your home, there are 6 additional costs to account for. They include: Home Fire and Flood Insurance Title Insurance Legal Fees Adjustments Land Transfer Tax G ...

WHAT IS A PROPERTY ASSESSMENT VS A HOME APPRAISAL?

November 9, 2020 | Posted by: Marc Crossman

It’s the time of year when many homeowners are getting their property assessments. The real estate market is the single biggest influence on market values. Market forces vary fr ...

WHAT HAPPENS WHEN A HOME SALE FALLS THROUGH?

November 2, 2020 | Posted by: Marc Crossman

Every homebuyer eagerly anticipates closing day. With the home purchase process completed, ownership of the property transfers from the seller to the buyer – you! Closing date is negoti ...

BANKS & CREDIT UNIONS VS MONOLINE LENDERS

October 26, 2020 | Posted by: Marc Crossman

We are all familiar with the banks and local credit unions, but what are monoline lenders and why are they in the market? Mono, meaning alone, single or one, these lenders simply prov ...

CONSTRUCTION MORTGAGE PART 1 â€“ SERVICED VS UNSERVICED LOTS

October 19, 2020 | Posted by: Marc Crossman

On several occasions we have had people ask us at Dominion Lending Centres about construction mortgages. Every lender has their own guidelines and rules when it comes to construction mortgages ...

5 COMMON MISTAKES WHEN SHOPPING FOR A MORTGAGE

October 5, 2020 | Posted by: Marc Crossman

Avoid these 5 common mistakes, and you will have no problem getting your mortgage faster, more efficiently, and with a clear understanding of the process: 1. Thinking banks ar ...

MORTGAGE BROKERS ARE SUPER HEROES

September 28, 2020 | Posted by: Marc Crossman

Mortgage brokers have a reputation as superheroes. Although we cannot leap tall buildings in a single bound we can do extraordinary things. Is the down payment money coming from outside of Ca ...

3 MORTGAGE TERMS YOU NEED TO KNOW

September 14, 2020 | Posted by: Marc Crossman

Prepayment, Portability and Assumability Prepayments One of the most common questions we get is about mortgage prepayments. The conditions vary from lender to lender but the nice thi ...

GETTING ON THE PROPERTY LADDER

August 31, 2020 | Posted by: Marc Crossman

As property prices continue to rise across Canada, the conversation around “how to climb the property ladder” has made a subtle shift to “how to get on the property ladder in ...

ADDITIONAL FINANCING WITH A â€œBLEND AND EXTENDâ€ MORTGAGE

August 17, 2020 | Posted by: Marc Crossman

Prepayment Privileges You need additional financing. Do you prepay your existing loan? We remind readers that commercial mortgage borrowers do not enjoy the privileges afforded person ...

MORTGAGE PAYMENT OPTIONSâ€¦ WHICH IS THE BEST OPTION FOR YOUR SITUATION?

July 27, 2020 | Posted by: Marc Crossman

Once your mortgage has been funded by your lender, you need to decide on how frequently you want to make your mortgage payments. Most people want to pay off their mortgage as ...

MORTGAGE INSURANCE 101

July 20, 2020 | Posted by: Marc Crossman

When you purchase a property, you may be a little overwhelmed by all the insurance offers related to the purchase of said property. Mortgage Insurance, Condo Insurance, Mortgage Default Insura ...

Iâ€™VE NEVER HEARD OF THAT LENDER BEFORE

July 13, 2020 | Posted by: Marc Crossman

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 c ...

5 SIMPLE STEPS TO OWNING YOUR OWN HOME

July 6, 2020 | Posted by: Marc Crossman

Often, the route to owning your own home can seem like a trip to the moon and back. Really though, it comes down to five key steps: 1 – Manage your credit wisely.If the ...

WHAT IS AN INTEREST RATE DIFFERENTIAL (IRD)? HOW DO YOU CALCULATE IT?

June 29, 2020 | Posted by: Marc Crossman

A mortgage in its simplest form is a contract. It has terms, conditions, rights and obligations for you and the lender. When you sign on the dotted line, you are agreeing to those terms for th ...

Lessons from the Ashes: The Fort McMurray fire

June 22, 2020 | Posted by: Marc Crossman

The Fort McMurray fire and subsequent reconstruction demonstrates the necessity—but also the limitations—of home insurance in the face of natural disasters Tuesday, May 3, 2016, i ...

TIME TO LOCK IN YOUR RATE? MAKE SURE YOU HAVE AN EXIT STRATEGY

June 15, 2020 | Posted by: Marc Crossman

Like many of you, I received a call last week, from my mortgage provider, asking whether I wanted to “lock in” a new five-year fixed rate. The rate was a special offer and would on ...

PAPERWORK YOU MUST KEEP

June 8, 2020 | Posted by: Marc Crossman

As a mortgage professional there are things I wish more people were aware of which is why we are going to take a look into the paperwork we all need to hold onto to avoid frustration or even a ...

CREDIT SCORES: HEREâ€™S WHAT YOU NEED TO KNOW

June 1, 2020 | Posted by: Marc Crossman

The interest rate you pay on loans for every major purchase you make throughout your lifetime depends on various factors, and is dependent on your creditworthiness – everything from the ...

EMOTIONAL HOMEBUYERS CAN LOSE OUT ON THE BEST DEALS

May 11, 2020 | Posted by: Marc Crossman

Buying a home is financial decision, but also an emotional experience. Before we’ve explored every room, we often start imagining our new lives there. Where our furniture will g ...

HOW TO RENEW YOUR MORTGAGE IN 5 EASY STEPS

May 4, 2020 | Posted by: Marc Crossman

If you have a mortgage, chances are unless you win a lottery (cha-ching $$$) you’ll be doing a mortgage renewal when your current term has finished. While most Canadians spend a ...

UNDERSTANDING HOW BRIDGE FINANCING WORKS

April 27, 2020 | Posted by: Marc Crossman

Sometimes in life, things don’t always go as planned. This could not be truer than in the world of Real Estate. For instance, let’s say that you have just sold your home and purcha ...

FIVE POINTS TO CONSIDER BEFORE YOU LIST YOUR HOME

April 20, 2020 | Posted by: Marc Crossman

There are several things to consider before you take the plunge and put your home up for sale. This might sound obvious, but the first step is to call your mortgage broker, not your lender d ...

MR. MORTGAGE BROKER, PLEASE GIVE ME THE BEST RATE!

April 13, 2020 | Posted by: Marc Crossman

In the past, it was easy to give our clients the best mortgage rate available. Unfortunately, new government regulations have created a fragmentation of interest rates that make “giving you our ...

PURCHASE PLUS IMPROVEMENTS â€“ YOU JUST FOUND YOUR DREAM HOMEâ€¦ SORT OF.

April 6, 2020 | Posted by: Marc Crossman

In a competitive real estate market or a market that is suffering from a lack of available listings, the Purchase Plus Improvements mortgage could be your saving grace. Regardless of whether you&rsquo ...

SELF EMPLOYED? 8 TIPS TO HELP YOU QUALIFY FOR A MORTGAGE

March 23, 2020 | Posted by: Marc Crossman

Since 2012, it’s become the wild west of mortgage options out there for those folks who are living the Canadian dream of being Self Employed (also known as BFS, Business for Self).& ...

SPOUSAL BUYOUT MORTGAGE?

March 16, 2020 | Posted by: Marc Crossman

If you happen to be going through, or considering a divorce or separation, you might not be aware that there are mortgage products designed to allow you to refinance your property in order to buyout y ...

HOW TO PROPERLY CALCULATE YOUR MORTGAGE

February 24, 2020 | Posted by: Marc Crossman

Calling all house hunters! We have a question for you—have you calculated what your mortgage will be? It is all too common for buyers to start house hunting before they truly know what their mor ...

FINANCING SOLUTION – HOME EQUITY LINE OF CREDIT

February 17, 2020 | Posted by: Marc Crossman

The Home Equity Line of Credit (HELOC) lets you split up your mortgage debt and borrow against your equity at low rates. The unique feature of this mortgage product is that you can slice the ...

FINANCING SOLUTIONS – BRIDGE LOAN

February 10, 2020 | Posted by: Marc Crossman

The fast pace of buying and selling real estate is daunting. Throw in trying to manage closing dates, possession dates and access to the proceeds for the purchase and you have a recipe for disaster. ...

3 STEPS TO KEEP YOUR CREDIT IN CHECK

February 3, 2020 | Posted by: Marc Crossman

If you have have overextended yourself with credit card debt, or have consolidated all of your consumer debt into your mortgage, or are at the point where you just want to cancel your credit c ...

WHAT DOES IT ACTUALLY MEAN TO CO-SIGN FOR A MORTGAGE?

January 27, 2020 | Posted by: Marc Crossman

There seems to be some confusion about what it actually means to co-sign on a mortgage and you know that where there is confusion, your trusted mortgage professional seeks to offer clarity. Let’ ...

UPGRADING YOUR HOME: REFINANCE PLUS IMPROVEMENTS MORTGAGE OPTION

January 6, 2020 | Posted by: Marc Crossman

When it comes to mortgages and renovations it is important that you have your financing in place before you take the sledge hammer out of the garage! Lenders do not like coming into play half way thro ...

WHY SO MANY MORTGAGE DOCUMENTS?

December 30, 2019 | Posted by: Marc Crossman

Documents, documents and more documents. Yes that’s right you will need to provide your Dominion Lending Centres mortgage broker with as many documents that we request upfront as possible. Why? ...

Why your mortgage lender requires home insurance

November 25, 2019 | Posted by: Marc Crossman

Before you close on the sale of your new home, you’re going to need to get home insurance. Most lenders won’t give you a mortgage without proof of home insurance, so it’s something t ...

FINANCING OPTIONS FOR CONVENTIONAL BORROWERS

November 11, 2019 | Posted by: Marc Crossman

To understand financing options for conventional borrowers – ask your Dominion Lending Centres Mortgage Broker. In October 2016 the Federal Government announced some significa ...

SCISSORS! THE ULTIMATE TOOL TO FINANCIAL FREEDOM!

November 4, 2019 | Posted by: Marc Crossman

Latest statistics indicate that Canadians are currently carrying over $450 BILLION in consumer debt! Mortgage Brokers are often called in to help refinance someone’s&n ...

WHAT ELSE DID THE FINANCE DEPARTMENT CHANGE ON OCTOBER 17TH?

October 28, 2019 | Posted by: Marc Crossman

As the dust is settling on the major changes to the mortgage qualifying rate and it is back to work as usual, some Canadians are starting to realize that there were some other significant changes that ...

THE PERSONALITY OF YOUR MORTGAGE

October 21, 2019 | Posted by: Marc Crossman

Everyone knows that Mortgages come with a rate attached to them. But few know that each Mortgage Product has a PERSONALITY too! The Personality of a mortgage product is a key component in sel ...

THINGS TO CONSIDER WHEN DECIDING TO BUY A FORECLOSURE

September 30, 2019 | Posted by: Marc Crossman

When bad things happen to good people sometimes the reality is they just can’t keep up with their mortgage payments. While Canadian mortgage defaults are amongst the lowest in the world ...

BANK OR MORTGAGE BROKER?

September 16, 2019 | Posted by: Marc Crossman

Mortgages are like vehicles. A bank is similar to the brand, Ford or Toyota for example. How long you have a mortgage before it’s time to renew is like the model, a Fusion or Camry. The rate is ...

TOP FIVE HOME RENOVATIONS THAT INCREASE PROPERTY VALUE

September 9, 2019 | Posted by: Marc Crossman

Looking to increase your homes property value? Here are five of the best renovations you can do to your home to increase property value. These five renovations can sometimes have a return on investmen ...

5 REASONS A MORTGAGE BROKER IS YOUR BEST CHOICE

August 12, 2019 | Posted by: Marc Crossman

So it seems that there are still Canadian consumers who have reservations or misunderstandings about why a mortgage broker is their best choice. Time to take a quick look at 5 reasons you shou ...

DOES 0.50% LESS REALLY SAVE ME MONEY?

July 1, 2019 | Posted by: Marc Crossman

It doesn’t sound like a big number, but when you realize how interest is calculated you may be surprised. Interest on a mortgage is compounded semi-annually, this means the interested is ...

8 THINGS TO AVOID BEFORE BUYING A HOME

June 24, 2019 | Posted by: Marc Crossman

The following is a list of things you’ll want to avoid if you plan on purchasing a new home in the near future. 1. Don’t apply for new credit: It may seem natural to apply fo ...

HOW YOU PAY YOUR MORTGAGE PAYMENTS MATTER

June 3, 2019 | Posted by: Marc Crossman

Aside from paying a regular monthly mortgage payment there are other choices you’ll be presented with when approved for a mortgage. This article will explain the differences and benefits of chan ...

Things to consider when buying in a new development

May 27, 2019 | Posted by: Marc Crossman

With plenty of activity in the real estate market and more new building slated over the next few years, here is my list of “Things to Consider When Buying in a New Development”. R ...

Renovate or Move

May 13, 2019 | Posted by: Marc Crossman

This is the great debate around many household dinner tables nowadays: improve or move? With all the attention the real estate market is getting these days in the local and national media, I’m s ...

Renovations and Space Saving Upgrade Ideas

May 6, 2019 | Posted by: Marc Crossman

As the price of real estate in many areas of the Canadian market continues to rise, first-time buyers can find it increasingly challenging to find a house that fits their family. Growing famil ...

Divorce and What Can Happen With the Mortgage

April 29, 2019 | Posted by: Marc Crossman

When tough times put stress on families sometimes the end result is divorce. While no one ever wants to see this happen sometimes it is inevitable. Recently, CMHC changed the rules about how m ...

WHY ARE LENDERS SO FUSSY ABOUT CRA?

April 22, 2019 | Posted by: Marc Crossman

WHY ARE LENDERS SO FUSSY ABOUT CRA? Sometimes it seems like we’re seeing more collections activities by the Canada Revenue Agency than we did 20 years ago. Whether it is t ...

9 Tips To Improve Your Credit Score

April 15, 2019 | Posted by: Marc Crossman

An important rule of thumb to remember regarding credit is that YOU are your only advocate for your credit. YOU are the only one that can improve your credit. YOU are the only one that can manage any ...

Difference Between Fixed and Variable Rates

April 8, 2019 | Posted by: Marc Crossman

The two most frequently asked questions I get are: 1. What are your best rates? 2. What is the difference between fixed and variable rates? Question #1 is actually more co ...

Renovating May Make More Sense Than Buying

March 25, 2019 | Posted by: Marc Crossman

If you’re finding your family has grown out of your current home or your house could use a makeover to better fit your changing needs, renovating is a great option to examine. Instead of ...

TOP 10 THINGS TO CONSIDER BEFORE YOUR MORTGAGE MATURES

March 11, 2019 | Posted by: Marc Crossman

1. Have you explored all your options. Once you receive your mortgage renewal statement, there is nothing easier than signing on for another term, heck 70% of everybody that received them fr ...

DO NOT DO THESE 10 THINGS WHEN YOUR MORTGAGE CLOSING

February 18, 2019 | Posted by: Marc Crossman

Okay, so here we are… we have worked together to secure financing for your mortgage. You are getting a great rate, favourable terms that meet your mortgage goals, the lender is satisfie ...

COMPLETION VS DRAW MORTGAGES

February 4, 2019 | Posted by: Marc Crossman

If you are considering building a new home, then you need to be educated on the difference between draw and completion mortgages. When you meet with a builder, there is tons of terminology and informa ...

CO-SIGNOR OR GUARANTOR FOR A MORTGAGE?

January 21, 2019 | Posted by: Marc Crossman

If a buyer can’t obtain a mortgage due to poor credit, employment history, lack of down payment or income — most lenders will consider lending if there is someone to act as co-signor or gu ...

HOW TO SUCCESSFULLY KILL YOUR FINANCING APPROVAL

December 31, 2018 | Posted by: Marc Crossman

Here is where you are currently sitting. You have successfully found your dream home. Negotiated like a true champion and kept your calm through the back and forth with the seller. Provided th ...

5 QUESTIONS TO ASK YOUR MORTGAGE LENDER BEFORE SIGNING ON THE DOTTED LINE

December 24, 2018 | Posted by: Marc Crossman

1. How the penalties are calculated if I break my mortgage early? Specifically, ask what rate they use to calculate the “interest rate differential”. Typically, if the lender has & ...

2016 The Power of Prepayment Options

December 10, 2018 | Posted by: Marc Crossman

Do you have a Mortgage Action Plan (MAP)? If not, it’s time to plan your road MAP to mortgage free living. Every lender provides options, but very few take advantage of them. These mortgage bene ...

A FULLY LOADED MORTGAGE

November 12, 2018 | Posted by: Marc Crossman

Be it fully loaded or all the bells and whistles, as savvy consumers we want to know that we got every bit of extra awesomeness available to us and your mortgage should be no different. Sure you want ...

You Can Pay Your Mortgage Faster with The Java Factor

October 22, 2018 | Posted by: Marc Crossman

When you are searching for a mortgage, you shouldn’t only base your decision on rate. It is important to search for the “best mortgage”. A mortgage that not only provides the best in ...

Obtain A Mortgage Pre-Approval

October 8, 2018 | Posted by: Marc Crossman

If you work with me, a licensed mortgage agent, to obtain a pre-approval, you can be confident you have access to mortgage financing and you will know how much you can spend before you head out shoppi ...

MORTGAGE BROKERS VS MORTGAGE SPECIALISTS

October 1, 2018 | Posted by: Marc Crossman

We’ve all heard the terms Mortgage Broker and Mortgage Specialist flung around, but what on earth is the difference? Though they sound similar, there are major differences that all home buyers a ...

NEW CREDIT REPORTING AND WHAT IT SAYS ABOUT YOU

September 24, 2018 | Posted by: Marc Crossman

New credit reporting and what it says about you and your spending habits may make all the difference between you buying a home now or later. When home buyers contact me to apply for a mortgag ...

TOP 8 BENEFITS OF USING A MORTGAGE BROKER

September 17, 2018 | Posted by: Marc Crossman

When shopping for a mortgage, many home buyers enlist the services of a Mortgage Professional. There are several benefits to using a Mortgage Broker and I have compiled a list of the top 8: &nbs ...

The Real Value of Title Insurance

September 10, 2018 | Posted by: Marc Crossman

I am often asked by clients about the real value of title insurance, why they need to have and pay for it. Whether you are a home buyer or a home owner simply refinancing the mortgage on your ho ...

HOW WOULD A MORTGAGE BROKER BENEFIT ME?

September 3, 2018 | Posted by: Marc Crossman

The most important strategy that a home buyer could ever have is putting together a team of Real Estate professionals to help them make the wisest decisions in regard to the biggest purchase they will ...

STEPS THAT COULD CHANGE YOUR APPROVAL INTO A DECLINE

August 20, 2018 | Posted by: Marc Crossman

Here is where you are currently sitting. You have successfully found your dream home. Negotiated like a true champion and kept your calm through the back and forth with the seller. Provided the endles ...

TOP 5 QUESTIONS TO ASK YOUR MORTGAGE LENDER BEFORE SIGNING ON THE DOTTED LINE

ACCELERATED BI-WEEKLY VS. BI-WEEKLY PAYMENTS

August 6, 2018 | Posted by: Marc Crossman

When signing your mortgage commitment letter you will have to choose your payment frequency. If your goal is to re-pay your mortgage as quickly as possible, then you need to understand how different p ...

HOW TO MAXIMIZE YOUR CASH FLOW WHILE INCREASING YOUR NET WORTH BY HAVING A MORTGAGE PLAN

July 16, 2018 | Posted by: Marc Crossman

Interest rates are only one of many features that should be looked at when you are applying for a mortgage. But all things being equal, the interest rate may be more important than you think. ...

NOW IS THE TIME TO GET AGGRESSIVE

July 9, 2018 | Posted by: Marc Crossman

The great majority of us are in mortgage contracts that contain a prepayment privilege of some sort. “Privilege” being the key word here. Not all mortgage contracts contain such privileges ...

How To Pay Off Debt Faster. 25 Secret Tips

June 25, 2018 | Posted by: Marc Crossman

1. Make a double mortgage payment whenever you can. Doing this once a year can shave over 4 years off the mortgage! Sometimes you can skip a payment later on too…if you really, really need to. ...

4 THINGS THAT WILL KILL YOUR MORTGAGE APPROVAL

June 11, 2018 | Posted by: Marc Crossman

So, you’ve worked hard to save every penny and have managed to finally afford the down payment necessary on a home. You have searched high and low, only to find the house of your dreams at a pri ...

Your Mortgage Penalty Was How Much??

June 4, 2018 | Posted by: Marc Crossman

Someone recently asked if I could describe the various penalties associated with breaking a mortgage prior to the maturity date. Generally speaking, lenders usually use a 3 month inte ...

Bikes for Kids 2015

May 28, 2018 | Posted by: Marc Crossman

Sample Blog Post showing Video Embed ...

2 Out of 3 Do Not shop at Renewal

May 7, 2018 | Posted by: Marc Crossman

Every now and then we see a mortgage stat that’s a jaw-dropper. This finding from Manulife Bank is one of them. It suggests there are a lot more people with money to burn than one might expect. ...

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Category: Mortgage Tips & Advice (142 posts)

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