Second Mortgages: What You Need to Know. One of the biggest benefits to purchasing your own home is the ability to build equity in your property. This equity can come in handy down the line for refinancing, renovations, or taking out additional loans – such as a second mortgage. What is a second mortgage? First […]

What are your post-COVID goals?  Is one of them to become a sun-loving snowbird south of the border or in another part of the world?  A reverse mortgage can help you achieve that goal.  Contact me by email at kwoolard@dominionlending.ca or by phone at 6041-319-6573, and visit us at www.ourreversemortgage.ca for more information.  Let us […]

Many things in our world have changed permanently and the real estate market is no exception. Shortly after Canada shut down due to the pandemic, interest rates spiked briefly and the Bank of Canada reduced the overnight rate by 150bps to cushion the economic shocks from both COVID-19 and the sharp drop in oil prices. […]

As the full impact of the COVID-19 crisis starts to be felt, I wanted to ensure you have as much information as possible on the relief measures that are being put into place. First, if you are facing loss of income due to quarantine or workplace closure you may be able to seek EI benefits […]

With 2020 just a day away I realized this is a time most of us reflect on the past year and set new goals for the upcoming year. Many people have resolutions to live healthier and exercise more but how many of us plan for a healthier financial picture? Depending on how good – or […]

With approximately 1,000 people retiring every day in Canada it’s not surprising that there has been an increased demand for Reverse Mortgages. A Reverse Mortgage can assist people aged 55+ realize their dreams in retirement. Whether they want to travel, help their kids or grand kids or even just supplement their monthly income a Reverse […]

With the mortgage rule changes in recent years lenders have had to make some adjustments to their rate offerings. There are different tiers and rate pricing based on the following 3 categories: 1) Insured – a mortgage that is insured with mortgage default insurance through one of Canada’s mortgage insurers, CMHC, Genworth or Canada Guaranty. […]

As a self-employed person myself I was happy to hear that CMHC is willing to make some changes that will make it easier for us to qualify for a mortgage. In an announcement on July 19, 2018 CMHC has said “Self-employed Canadians represent a significant part of the Canadian workforce. These policy changes respond to […]

We are in a rising interest rate environment and it would be wise to consider where you are in your current term and where rates may land at maturity. What are the implications of refinancing now for a better rate?  If you are 3-4 years into a 5-year mortgage term you still have 1-2 years left. […]