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The latest thoughts and insights from Geoff Lee and GLM Mortgage Group | Dominion Lending Centres
Pre-Approval VS Rate Hold
Pre-Approval VS Rate Hold Pre-Approval VS Rate Hold... what are the differences? What are the benefits? Not even one Mortgage or Pre-Approval Process is the exact same as someone else’s. The Mortgage and Pre-Approval process are complex mazes of tiny puzzle pieces...
Refinancing Your Home Investment in BC
Refinancing Your Home Investment in BC Refinancing Your Home Investment in BC means that you are simply replacing your existing mortgage with a new mortgage on different terms. To find out if you qualify, your lender will calculate your “loan to value” ratio by...
Increasing Your Purchase Power
Increasing Your Purchase Power Most individuals that we connect with to discuss a Mortgage Pre-Approval also want to know how we can go about Increasing Your Purchase Power. More often than not, those individuals could afford to make mortgage payments. Usually,...
How To Improve Your Credit Score
How to Improve Your Credit Score Credit is an important aspect of our daily lives. Our credit score and history are an important aspect of a Mortgage Application, and it demonstrates to the lender your financial health and responsibility to repay debts. Typically,...
Personalities of Your Mortgage
Personalities of Your Mortgage Personalities of Your Mortgage Asking the right questions and understanding the Personalities of Your Mortgage is an important part of the mortgage process as it will allow you to understand which mortgage product is right for you! An...
Private Lending Mortgages
a href="https://geoffleemortgage.com/wp-content/uploads/2021/12/Private-Lending-Blog-Image.jpg"> Private Lending Mortgages Private Lending Mortgages or Alternate financing, although usually a more expensive option, can facilitate all kinds of client scenarios. If...
CHIP Reverse Mortgages
A CHIP Reverse Mortgage is a loan secured against the value of your home, for homeowners aged 55 and older. A reverse mortgage allows homeowners to convert up to 55% of their home equity into tax-free cash income without the requirement of monthly mortgage payments...
2021 Election Promises: Housing Policies
A few weeks ago we had a Federal Election. Throughout the election campaign, many promises were made from all parties for housing policies that would go into place in the short-term future. Justin Trudeau and the Liberal Party ultimately won the re-election with a...
Why You Should Choose GLM Mortgage Group
Many homeowners will start off renting and will eventually enter the real estate market with a purchase of a home – it is an overwhelming, exciting, and rewarding journey. And once we own a home, we will then go through the transfer/switch/refinance process when the...
How Inflation is Affecting Mortgages Today
Inflation rate and Mortgages in Canada Since the beginning of 2021, inflation rates have been coming in at unprecedented levels. Last week, Canada’s inflation rate came in above expected and was at its highest rate in over a decade. The inflation rate came in...
A More Stabilized Market
Since the beginning of 2021 house prices have been rising exponentially. In June, a Canadian Real Estate Association report indicated that the average selling price of a home in Canada had fallen for the second consecutive month. In the next two months with...
Changes to Stress Test – June 1st Onwards
Recently, there has been approved changes to the stress test released by the government that come into effect on June 1st. The Bank of Canada benchmark qualifying rate will increase from 4.79% to 5.25%. The changes will be for all mortgages. This includes; Insured...
Proposed Changes to the Stress Test
Recently, there have been proposed changes to the stress test released by the government that would come into effect on June 1st. If the changes go into effect, the Bank of Canada benchmark qualifying rate will increase to 5.25%. If the changes go into effect, it...
Geoff Lee Recognized by Canadian Mortgage Professional Magazine
GLM Mortgage Group | Dominion Lending Centres is thrilled to announce that Geoff Lee has been selected by Canadian Mortgage Professional as one of Canada’s Top 75 Mortgage Brokers. In addition to being a Top 75 Mortgage Broker in Canada GLM Mortgage Group | Dominion...
When it comes to getting pre-approved for a mortgage and “Locking” in a rate, we have a clear process in place to help you do so.
How it works: We start with a pre-approval where a mortgage application is done, and documentation is requested to confirm details within the application to best prepare for an accepted offer. Once you complete the pre-approval process, we can then determine your max...
Pre-Approval: Does it Hurt My Credit Score?
One of the most common questions we are asked when going through the pre-approval process: Will this hurt my credit score? It’s a fair question. The reason many people ask if a pre-approval will hurt their credit score is due to the fact that typically a hard...
Fast Five | October Edition
Hello folks! Today we are delivering you our Fast Five for this month--the top 5 things happening in the mortgage world right now that you need to know about. Let's dive in, shall we? 1. Record Setting Month in Real Estate Both August and September were record...
Breaking a Mortgage in 2020
Did you know that 6 out of 10 consumers break their mortgage within 3 years into a 5-year term? That means that 6/10 of borrowers will break a 5-year term mortgage well before it’s due…but do you also know what the implications are of this? With the increase of...