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The latest thoughts and insights from Geoff Lee and GLM Mortgage Group | Dominion Lending Centres
Private Mortgages—Do they ever make sense?
We’ve talked previously about how some mortgage-seekers don’t fit into the “Lending Box”. For one reason or another, they might just not check off all the boxes or perhaps there is an additional element to their situation that is uncommon. It could also be that due to...
Fast Five | January 2020 Edition
Happy New Year Everyone! We are excited for what this year holds and for everything that we have seen happening in the mortgage industry the past few months. One new thing we are introducing is our "Fast Five" Series. This will include 5 key things you need to know...
5 Mistakes First Time Home Buyers Make
Buying a home might just be the biggest purchase of your life—it’s important to do your homework before jumping in! We have outlined the 5 mistakes First Time Home Buyers commonly make, and how you can avoid them and look like a Home Buying Champ. Shopping...
5 Reasons You May Want To Consider A Rent To Own Property
With the real estate market continuing to hold steady, many young families are looking for other options to afford a home. Many millennial families still are holding onto the dream of owning a detached home or their own townhouse/condo one day…but the task of moving...
Client Success Story: CHIP Reverse Mortgages
A retired couple on fixed pensions found themselves struggling to make ends meet each month. Both were in good health and wanted to maintain an active lifestyle. They had spent their working years paying off their mortgage and had little saved in their RRSPs. ...
6 Things all Co-signors should consider
Co-signing on a loan may seem like an easy way to help a loved one (child, family member, friend, etc. ) live out their dream of owning a home. In today’s market conditions, a co-signor can offer a solution to overcome the high market prices and stress testing...
First Time Home Buyer Incentive Program
The newly released First Time Home Buyer Incentive program from CMHC (Canadian Mortgage and Housing Corporation) was officially released on September 2. This program was met with mixed reactions across the mortgage industry, but we wanted to take a minute to give you...
4 Ways to Make the Mortgage Process Smoother
Mortgages are complicated—we get it! But there are steps that you as a homebuyer can take to make the process a much smoother one (plus let you walk away with the sharpest rate!) Use a Broker This should be the first step you take when getting a mortgage!...
Changing The World One Child At A Time
The Imai Orphan Care Foundation began with Kim (my wife) and myself back in 2010 with the opening of our orphanage- The Imani Home of Love. It all began with a trip Kim and I took to Kenya 9 years ago. Before going to Kenya, God was speaking to us about working with...
4 Costs to Consider as a First Time Home Buyer
Oftentimes even the most organized and detail oriented first-time home buyer can overlook some unexpected costs that come with the purchase of their new home. We are outlining 4 of the costs that we most commonly see overlooked by home buyers in hopes that we can...
3 Stats you need to know about the Vancouver Real Estate Market
A recent survey found that only the top 2.5% of income earners can afford the benchmark price for a Vancouver House. That stat is coupled with another one that shows based on those numbers, it would take an income of at least $205,475 to be able to pay back the...
3 steps to take you from Pre-approval to getting the keys
Picture this: You’ve finally been able to put away enough for a down-payment on your dream home. It’s taken you 5 years of diligent saving, but you did it! You have also been diligently working on improving your credit score and paying off debts and are at a place of...
Do You Understand the B-20 Guidelines?
A new survey has emerged showing that out of 1,901 owners and would be homeowners, 43% (more than two out of five) Canadians are not confident in their knowledge of the mortgage stress tests—despite them being in place for more than a year now. (source) We...
Accessing Your Home’s Equity To Invest
To tap into your home’s equity, it all starts with refinancing your home. If you own a home, the equity you have built up in it is one of the most valuable assets you have available to you. It is also much more accessible than taking out a large loan. In many cases,...
Should you pay down your mortgage ASAP?
One of the top questions we get asked: Should I pay down my mortgage as fast as possible? In theory, this makes sense. The faster you pay it down, the faster you get out of debt, right? For many people that is the case and it does make sense often times to take this...
Nuts & Bolts of the Federal 2019 Budget | What you REALLY need to know!
On March 19, the Federal Government announced the official 2019 budget. One major topic on the discussion table (and one we were all holding our breath for) was the discussion of affordable housing in Canada. So just what happened on "Budget Day?" Here are the...
Canadian Mortgage Award Finalist 2019
We are so excited to share with you all that we have been nominated as a Finalist for a Canadian Mortgage Award! We have been named as a finalist for the Manulife Bank Award, Best Customer Service Individual Office in the 13 th annual Canadian Mortgage Awards, the...
Mortgage Transfers and Mortgage Renewals| How do they work?
Transfer/Switches are when you opt to transfer your mortgage to a new lender in order to take advantage of a lower rate. A transfer/switch does not include additional money to the existing mortgage balance owing, your mortgage amount will remain the same, however,...