Dominion Lending Centres Ideal Mortgage
6080 Young street Suite 206 B3K 5L2 Halifax, NS, Canada

Canada’s bank regulator wants to impose a higher threshold to qualify for a home loan, but the move could ratchet up already overheated real estate markets in the weeks before the rule is set to take effect. The Office of the Superintendent of Financial Institutions (OSFI) is proposing changes to the mortgage stress test for uninsured mortgages that would effectively require borrowers to qualify at a rate of 5.25 per cent instead of the Bank of Canada’s benchmark five-year ra...te of 4.79 per cent. For more information contact your DLC Ideal Mortgage Professional today! https://www.cbc.ca//osfi-mortgage-stress-test-rules-1.5979 #mortgage #interestrates #bank #property

You’re in the market for a new home or investment property: What can we afford? Many buyers become so caught up in how much they can afford that they don’t realize their total buying powerthat is, the total amount of purchasing potential they actually have. Buying Power Defined - Your buying power is comprised of the total amount of money you have available each month for a mortgage payment, after fixed bills and expenses. Any money you’ve saved for a down payment, the pro...ceeds from the sale of your current home, if applicable, and the amount you’re qualified to borrow all impact your buying power. Then you may find you are able to purchase a larger home or a home in a more desirable neighborhood, or you should be looking for homes in a lower price range. Why Buying Power Matters - A home’s list price does not determine whether or not you can purchase it. It’s essential to consider what your monthly payment will be if you own the home. After all, there are other housing-related expenses: property taxes, insurance, maintenance or repairs. Figuring out the payment will prevent you from overestimating or underestimating your buying power. After all, you’ll live with your monthly payment, not the sales price. Call today for more information. Once you know your buying power, you’ll be able to buy the home you want, instead of a home because you feel it’s the only one you can afford. It also prevents you from becoming house poor. Understanding your buying power can help you get the home you want without sacrificing the lifestyle you desire. Call TODAY for more information!

Looking to Buy Now - There is nothing quite like buying a new home! Whether this is your first home, a secondary property for rental or vacation, or you're looking to move on up or scale down, we are here to help. Need to Renew or Refinance - Life happens! When it does, mortgage financing can be a great option to help you manage life changes or unexpected expenses, while keeping you on track for your future. Planning to Buy In The Future - If you're considering a new home in ...the future, but aren't quite sure what you need, a Dominion Lending Centres Ideal Mortgage professional can help get you prepared and ready for a successful purchase! Want to Calculate Your Mortgage Payment - Planning for a mortgage? Find how much your payments would be and set your budget today! Get Pre-Qualified Today - Get pre-qualified for a mortgage. Call today! It's that easy! One step closer to your dream home. Want to Have the Best Mortgage for You? - Contact a Dominion Lending Centres Ideal Mortgage expert today for a full mortgage review and check-up! Let us shop the market to find YOU the best mortgage solution!

When it comes to moving on up, it can be extremely exciting and rewarding as long as you consider all the costs. When up-sizing, some of the costs to consider include: Costs to sell your current home Purchase price on the new home Property Transfer Taxes Realtor fees (typically 2.5-5% of the homes selling price)... Home ownership costs If you are moving up from a condo or apartment to a single-family home, you will save on strata fees; but it is important to realize that you will now be responsible for all of the maintenance of your home. To ensure financial success, it is a good rule of thumb to save one percent of your new home’s purchase price, per year, for maintenance. For instance, if you purchase a $600,000 new home then you would want to ensure $6,000 per year in savings. Making the move to a larger home is both an exciting and daunting process but it is entirely doable with the right preparation. Regardless of where you are moving on the property ladder whether up to a full-size family home or down to a more comfortable condo a Dominion Lending Centres Ideal Mortgage professional can help you move on up the property ladder and ensure future financial success so you can continue living the life of your dreams!

Christmas Holiday Schedule

Understand Your Mortgage Options When it comes to mortgages, there can be a lot to know! Do you go with a fixed-rate mortgage or a variable-rate? What are the terms? What are the penalties? Which is the best payment frequency? With so many questions and so many lender options, it can be hard to find the best solution for you. That is where a DLC Ideal Mortgage Professional can help. Rate is only ONE of the many features in selecting the best mortgage product that meets your f...inancial goals. With access to over 30 lending institutions, Dominion Lending Centres Ideal Mortgage Professionals are familiar with a variety of mortgage products allowing them to help find the best mortgage for YOU! Plus, unlike banks, mortgage agents are a third-party service focused on YOUR needs. This means that you can get the best rates and unbiased advice all for FREE from someone whose only goal is helping you achieve your dream of home ownership. #mortgage #refinance #mortgagebroker See more

Merry Christmas and Happy New Year!

Not only does life not stand still our schedules change, our needs change, and even our goals can change. Success and even happiness are often moving targets. That’s why we like to touch base and remind our clients that it’s a good idea to have an annual review of your mortgage. A review may show that everything is working according to plan. Or we may turn up an opportunity that can save you money or help you better reach your goals by tweaking your mortgage or re-arranging... your finances. We would especially recommend setting up a mortgage review if you: are considering moving up or downsizing your home. want an investment property or vacation home. have a prime plus variable mortgage (we have very attractive prime minus variables). want to assist your child to buy a home and you are wondering if you should help. have high-interest debt outside your mortgage. want to pay your mortgage off faster. want to make some major renovations to your home. need low-cost funds for a wedding, tuition, travel or other major expenditure. are coming up for a mortgage renewal within the next year. Give us a call and we’ll set up a convenient time to talk. I look forward to having a conversation about what’s new with you! And, as always, feel free to extend our offer to friends or family who might appreciate a free mortgage review. See more

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The process of qualifying for a mortgage begins long before you decide to buy a home! But if you make a plan to improve your financial fitness ...you'll have no shortage of lenders willing to compete for your business. When the time is right for you to buy a home, make sure you are financially fit and eligible for the best possible mortgage rates. Here are five tips to boost your financial fitness: 1. Whip it. Whip your credit rating into shape: pay your bills on time...every... time. Keep your oldest credit card for its history, and make sure it is always paid on time. Try not to apply for new credit, which includes co-signing for any type of loan. 2. Follow the 33% rule. Never run up a cred it card or line of credit past 33% of its available limit . If you've got a $3,000 limit, then $1,000 is your absolute ceiling. 3. Cash is king. Gather up the maximum down payment possible. The more money you put down on a home, the better. 4. Be prepared. Put together a file folder with the following: pay stubs, or proof of self-employment income, list of debts and assets, and current bank statements. I can advise what you'll need. 5. Start a dialogue. Let's discuss your plan, and get off on the right foot in your homebuying journey! Contact me for a free consultation today!

How a CHIP Reverse Mortgage Can Help You During the Holiday Season. The holiday season can be a very expensive time. Many struggle to afford these extra costs with their high interest credit card. This can easily lead consumers into a spiral of debt. Don’t overspend on your credit card this holiday season, a CHIP Reverse Mortgage could be for you. CHIP is a financial solution for Canadians over the age of 55 that allows you to access up to 55% of your home’s value in tax fr...ee cash. The money can be used for whatever you want. This could include consolidating debt including credit cards renovating your home or increasing cashflow during the holiday season. The CHIP Reverse Mortgage has a number of benefits over regular credit cards: Lower Interest Rates: Rates range from 4-7% compared to credit card rate of 12-23%. No Monthly Repayments: No payments are required until you leave your home. However, you must continue to pay your property taxes and insurance and maintain your home in good condition. Without the need for monthly debt repayments, your monthly cashflow will increase. With a CHIP Reverse Mortgage, you can pay for the holidays this year and for years to come, knowing that you’re enjoying lower interest rates and don’t have to pay back what you borrow until you leave your home. For further details and to see how the CHIP Reverse Mortgage can help you, please contact your DLC Ideal Mortgage Professional.

How much home could your rent buy? Take a look at how much mortgage your current monthly rent could cover. Your monthly rent cheque doesn’t have to be money out the window. It could be building you equity in your own home! Keep in mind that home ownership involves costs beyond the monthly mortgage payment like utility bills, insurance, and property taxes. We can help you determine what you can comfortably afford. ... Get pre-approved today and have your rate held for 120 days! This way you don’t have to worry about rates rising while you are house hunting, and both realtors and sellers will know you’re serious, which means you’ll be in a good position to get the home you want. YOUR DREAM HOME MAY BE MORE AFFORDABLE THAN YOU THINK! Call today to learn more!

Applying For a Mortgage: What Lenders Are Looking For When you apply for a loan it’s important to understand what lenders look for in their applicants. Of course, depending on the type of loan that you are applying for the different factors that lenders look for change. The following list contains all the different things that lenders may be looking for when you are applying for one of their mortgage products: 1. Credit Score Your credit score is an indicator of how responsib...le you are in meeting your debt payment requirements. When you miss payments your credit score is hit. 2. Credit History Since a lender has to pull your credit file when searching for your credit score, they will be looking at your credit history for the following information: Who gives you credit right now? Who has given you credit in the past? Have you defaulted on any accounts? Which? Do you have any debt in collections? 3. Assets For secured loans, lenders will want to have an idea of what assets you have and how much they are worth. Lenders love it when you have home equity. Otherwise they look for things like cars, RVs, boats, furniture and other high-valued assets. 4. Debts Just like lenders are interested in what you own, they are also interested in what you owe. Lenders will want to know how much debt you have, and who you owe to. They want to know if you have a mortgage, or a car loan. They’re also interested in learning if you have credit card debt or other high-interest debt. Basically, they want to understand how much debt you have, and how much more you can take on. One of the ways lenders evaluate this is by taking a look at your income to debt ratio. This is done using the Gross Debt Service Ratio (GDS) and Total Debt Service Ratio (TDS), and they demonstrate your ability to cover your debt servicing costs. 5. Income Probably the most important factor behind loan qualification is your income. Of course, this is best demonstrated by the fact that it’s very difficult to qualify for a loan without income (you would lack the ability to pay down your loan). Without income, your risk of default is greatly increased and lenders like to avoid risk. Your income determines not only how large a loan you can qualify for, but also the term and possibly the rate of your loan. Again, be aware that different financial products have different requirements. If you are applying for a loan from a bank then it’s very likely that the bank will be analyzing your entire financial position. On the other hand when searching for a second mortgage, many second mortgage lenders ignore your credit score and instead focus on your income to debt ratio. Do you need help making sense of it all? Speak with a Dominion Lending Centres Ideal Mortgage broker today.

I can help with your mortgage, no matter what your situation may be. Spousal Separation - Your home can be the asset that gives both partners a fresh start. Self-Employed - Don't worry about handling the time-consuming tasks of securing a mortgage.... Refinance Plus Improvements - Your mortgage can be your most cost effective financing option for your dream renovation. Retired - Free up tax free cash from your home so you can retire your way. Bruised Credit - Shaky credit but need a mortgage now? Solutions are available. Rental Properties - Ordinary Canadians can build retirement wealth by investing in rental properties. Rates are at all-time historic lows. Whether you are looking to purchase, renew, refinance or consolidate debt, there is no better time than NOW! Contact me today to learn more!

ATTENTION HOMEOWNERS Do you have the best mortgage strategy for YOU? Call for a FREE Mortgage Check-Up! I'd be delighted to advise you on how to get the most from your mortgage: Transfer consumer debt to a lower interest rate.... Pay off your mortgage early & save thousands. Get out of a high-rate mortgage. Access the lowest-cost funds for renovations. Take advantage of opportunities: trade up, buy an income property,vacation home, or make sure you are getting the best possible deal at renewal. CALL ME FIRST FOR EXPERT MORTGAGE ADVICE AND CUSTOMIZED FINANCING SOLUTIONS. See more

Buying your first home can be an overwhelming experience. But finding the right mortgage doesn't have to be difficult . With access to over 30 lenders, including most of the major banks, credit unions, and other national, regional and private lenders, I can make sure you get the right mortgage for your situation. You'll want a low interest rate of course, but also the right features that will allow you to live comfortably with your mortgage and pay if off in record time. I ...will help you make the right decision about fixed vs variable, term length, prepayment options, payment flexibility and other mortgage privileges. I'll also provide advice on your downpayment and all of the closing costs involved in buying your home. You'll save both money and time. Everything relating to your mortgage transaction can be managed around your busy schedule. And I'll be paid by the lender selected, which means my services will be at no cost to you (OAC).

Make sure you get pre approved first and lock in your rate! Each mortgage application is different and we will help you figure out the numbers so you can stay focused on shopping for properties within your approved price range. You and your real estate agent will know exactly how much you can comfortably afford along with the assurance of a locked in rate - all at no cost to you! Call or email today for the best rates, mortgage advice and a FAST mortgage pre-approval!... #broker #business #house #cottage #cottagelife #cottages #cottagestyle #country #countrylife #countryliving #creditrepair #creditscore #dreamhome #finance #firsttimehomebuyer #forsale #holiday #home #homeloan #homeloans #homeloans #homesforsale #homesweethome #house #househunting #investment #listing #loan #loanofficer #loans #mortgage #mortgagebroker #mortgagelender #newhome #properties #property #realestate #realtor #refinance #renovation

Most homeowners stay with their existing mortgage lender because they believe it is too time consuming to get a better mortgage rate! If your mortgage renewal is fast approaching, then now is a great time to look at the many excellent options and competitive rates available. Lenders send out renewal forms just prior to renewal dates to those with good payment histories, with about 70% of homeowners sending it back without asking any questions! In todays hectic world, that ca...n be the easiest and best route, but you should ask yourself some questions before you sign on the dotted line. This is an important moment of opportunity. This is where an independent mortgage professional like myself can help offer advice and options to help you get ahead! Maybe your mortgage needs have changed. This is the time to decide. For example, you may want to consolidate high interest debt in with your mortgage or you may want to tap some of your home equity for a renovation project? Or maybe you reconsidering a cottage or vacation property. Are you confident you will get the best rate at renewal? Having multiple lenders compete for your business is a great way to ensure you get the best rate for your situation. I deal with multiple lending institutions, including major banks, credit unions, trusts and other national and regional lenders, which means significant negotiating power behind finding the best mortgage to fit your specific situation. Call or email today for full details and a FAST mortgage pre-approval! #mortgages #realestate #mortgage #mortgagebroker #refinance #home #mortgagelender #mortgagelife #finance #firsttimehomebuyer #realtor #loans #homeloans #mortgagerates #loanofficer #mortgageloans #newhome #homeloan #mortgagebrokers #property #investment #homebuying #househunting #creditrepair #homebuyers #mortgagetips #house #mortgagelending #mortgagespecialist

Good news for some residents out there looking to purchase a home. On August 12, the Bank of Canada lowered its five-year conventional mortgage rate from 4.94% to 4.79%, the second time its reduced the qualifying rate in the last three months. The last time was in May, when the rate changed from 5.04% to 4.94%. The decrease in the Bank of Canadas five-year benchmark rate is the result of the big banks decreasing their five-year posted rates. The most recent change to the b...enchmark qualifying rate will increase homebuyers affordability by 1.5%. Over the last few years, rule changes have made it harder for Canadians to qualify, so the recent reductions in the benchmark qualifying rate is welcome news for first time homebuyers hoping to enter the housing market. Five-year fixed rates are currently at historic lows, so now is a good time for Canadian to qualify and secure a mortgage rate. New homebuyers are advised to speak with a DLC Ideal Mortgage professional to redo their affordability calculations using the new stress test rate and see how much their buying power has increased. #buyersagent #buyingahome #dreamhome #firsthome #firsttimebuyer #firsttimehomebuyer #firsttimehomebuyers #forsale #home #homebuyer #homebuyers #homebuyertips #homebuying #homebuyingprocess #homebuyingtips #homeforsale #homeowner #homeownership #homes #homesearch #homesellers #homeselling #homesforsale #homesweethome #househunting #investmentproperty #justlisted #listing #mortgage #mortgagebroker #mortgagerates #mortgages #newhome #newlisting #openhouse #property #realestate #realestateadvice #realestateagent #realestatebroker #realestateexpert #realestateexperts #realestategoals #realestateinvesting #realestatelife #realestatemarket #realestatenews #realestatetips #realtor #realtorlife #realtors #realtorsofinstagram #realty #refinance #sellyourhome #sold https://www.gettheidealmortgage.com//mortgages-first-time-

LOW RATES - 5 Year Fixed Mortgage Rate 1.99%** Insured mortgage rates, subject to change. Conventional and refinance rates may be higher. QAC. E&EO #FirstTimeHomeBuyers #NewToCanada #NewToCanadaMortgages #InvestmentProperties #VacationMortgages #SecondHomeMortgages #MortgageRefinancing #MortgageRenewal #SelfEmployedmortgage #DebtConsolidationmortgage #HomeEquitymortgage #Renovationmortgage #CreditImprovement #forsale #holiday #home #homeloan #homeloans #homeloans #homesforsale #homesweethome #house #househunting #investment #listing #loan #loanofficer #loans #mortgage #mortgagebroker #mortgagelender #newhome #properties #property #realestate #realtor #refinance #renovation #summer #travel

VACATION! VACATION! VACATION! Its SUMMERTIME! If you are looking to purchase a cottage or a second property! Congratulations! This is a great opportunity for you to expand your financial portfolio and ensure stability for the future. I have put together some great information to get you started. Give me a call to get pre-approved before you start. If you are looking to sell, I have some information on what you need to know before you list. I look forward to hearing from you!... Have a great summer! #broker #business #cabin #cottage #cottagelife #cottages #cottagestyle #country #countrylife #countryliving #creditrepair #creditscore #dreamhome #finance #firsttimehomebuyer #forsale #holiday #home #homeloan #homeloans #homeloans #homesforsale #homesweethome #house #househunting #investment #listing #loan #loanofficer #loans #mortgage #mortgagebroker #mortgagelender #newhome #properties #property #realestate #realtor #refinance #renovation #summer #travel

Nicholas Hamblin - Mortgage Broker #mortgage #mortgages #realtor #mortgagebroker #home #newhome #investment #property #househunting #refinance #firsttimehomebuyer #forsale #finance #broker #mortgagelender #homeloans #loans #dreamhome #homesforsale #creditrepair #properties #creditscore #homeloan

Did you know? The average price of a house for sale on the Canadian real estate market has increased every year since 1998? Real estate is your best investment! #homebuyers #housing #credit #mortgagerates #homeownership #money #mortgages #realty #house #homebuying #mortgagetips #realestatelife #justlisted #lender #lending #entrepreneur #realtors #mortgagelife #homeowner #financialfreedom #homebuyer #covid #mortgageloans #mortgageloanofficer #homesale #success #creditrestoration #mortgagespecialist #openhouse #motivation

Got a mortgage renewal coming up in the next six months? Lets start talking!

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The time is NOW! Rates are at all-time historic lows. Whether you are looking to purchase, renew, refinance or consolidate debt, there is no better time than NOW! What are you waiting for? Contact me today to learn more!

Interest rates have fallen to historic lows as Covid-19 is affecting the economy and caused widespread unemployment. The 5 yr fixed rate is the lowest its ever been in Canadian history. The BoC has slashed the key rate 3 times in March, but variable rates didnt follow as banks are trying to protect themselves against losses. However, now rates have dropped to near historic lows. This could mean huge savings. Its a great opportunity for a mortgage renewal or to buy or to re...finance and consolidate debt. Rates may come down a little more, but 2% is historically low and if you have a mortgage up for renewal or want to refinance, now is a good time. If youre locked into a long-term mortgage, you may be profitable to break your mortgage to take advantage of lower rates but consider the penalty before you break your mortgage. That being said, rates are likely to remain low for some time with the uncertainty in the economy and COVID-19 threat. When there is poor economic news and unemployment numbers staying high, its likely that interest rates to stay low to help in the recovery. If youre shopping for a new mortgage, it can pay to do your research. Even if you dont switch to a new lender, knowing what others are offering can help with negotiating a lower mortgage rate. See more

Happy Canada Day!

Mortgage brokers have more access brokers are YOUR personal shoppers! There are dozens of lenders in Canada and we will shop this big market for you while you relax and wait for the best results. Did you know? Mortgage Brokers have access to MORE rates and lenders than the bank. The bank brokers only have access to their rates, no one elses. We work for you, not the banks.

CONSOLIDATE YOUR DEBT Debt varies from credit cards, lines of credit, loans, mortgages. However, many types of consumer debt have much higher interest rates than those you would pay on a mortgage. Refinancing can free up cash to help you pay out these debts. While it may increase your mortgage, your total payments could be far lower and would be one single payment. Keep in mind, you need at least 20 percent equity in your home to qualify. GET A LOWER INTEREST RATE Depending ...on where you are in your mortgage term, you could refinance to get a better rate - especially when done through a mortgage broker. An average mortgage broker has access to 30+ lenders and can find you the best rate whereas traditional banks which only have access to their own rate. MODIFY YOUR MORTGAGE Life is ever-changing and you may need to pay off your mortgage faster or change your mortgage type. You may have some extra money and want to put it on your mortgage or maybe you may want to lock in at a fixed-rate for security. It is always best to do this when your mortgage term is up, however talk to a mortgage specialist about potential penalties if waiting is not possible. UTILIZE YOUR HOME EQUITY One of the biggest reasons to buy in the first place is to build up equity. Your home equity is the difference between your propertys market value and your mortgages remaining balance. If you need funds, you can refinance your mortgage to access up to 80% of your homes appraised value in cash! See more

Happy Mother Day to all Mothers!

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What you need to know about refinancing A home loan is generally a long-term proposition, but in some situations, it can make sense to refinance your mortgage. Your DLC Ideal Mortgage Broker will help you decide whether its right for you. Refinancing involves taking out a new mortgage and using those funds to pay off your existing mortgage. Doing so can save money and result in significant financial gains over time....Continue reading

With the COVID-19 crisis, interest rates are still low but are changing more often. Buyers can get the financing they need to purchase a new home. We have the answers to help you understand and gain certainty in the current market. Get a mortgage? Yes. Our employees may be working remotely but are still diligently closing loans. Get a pre-approval? Pre-approvals are more important than ever. Sellers need to know that the buyer is serious, especially when letting them into t...heir home. The buyer benefits by understanding how much home they can afford. Secure a mortgage rate? Due to market volatility, its best to secure your rate right away. COVID-19 crisis delay closing? Delays can happen, but the closing will not be delayed by DLC Ideal Mortgage. We have first and foremost prioritized the underwriting so mortgages are still closing on schedule. Buy an investment property? Yes. Investment property mortgages are rate-driven. Refinance? Yes. Rates are still low and accessible. On a positive note, social distancing has helped advance technology for the mortgage industry. Our partners have found innovative ways to use technology to streamline processes. If youre thinking of buying, refinancing or have more questions on the future of lending, talk to one of our experts at DLC Ideal Mortgage. To begin searching for your next home, start by getting pre-approved today. See more

Seek help if you have difficulty making your mortgage payments. Work with your mortgage broker to find a solution. They are fully trained and equipped with the tools to help you deal with the temporary financial setbacks that you may be facing.

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