Variable or Fixed

In April 2008 (only months before the credit crunch) an article written by Keith Woolhouse, Special to the Star, addressed the age old question “variable or fixed?” Since then borrowers with discounted variable rate mortgages have saved thousands of dollars in interest.   Woolhouse compares the two types of borrowers; the fixed rate camp, seeking security […]

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How to determine the value a home

One of the biggest challenges faced by home buyers and home owners is how to determine the value of a home – whether your own or the one you want to buy.  When you are a home buyer you usually rely on the price listed, you refer to your realtor for guidance and you may […]

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Buying a new car or your first home

Buying a new car or your first home, what makes the most sense? We all need a roof over our head and some means of transportation to get us to and from work.  Sometimes it can be a tough choice when there is only so much money.  “Do we buy the new car or our […]

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Mortgage-backed securities

Canada Mortgage and Housing Corp. is putting a cap on the amount of mortgage-backed securities sold by banks that it is willing to guarantee. A spokesperson with CMHC confirmed media reports Monday that the national housing agency will, effective immediately, limit banks and other mortgage lenders to $350 million worth of new mortgage-backed securities per […]

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Buying a leasehold strata property

Are you thinking of getting into a leasehold strata property? Metro Vancouver has hundreds of leasehold townhouses and condos. Some of them offer an attractive lifestyle because of their central location and stunning views. You don’t own the land, so a leasehold strata property costs less than a freehold one. Compared to renting, getting into […]

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Buying Leasehold Property

When buying a home in British Columbia you have various options including a house, condominium or town home and you also have the option of buying leasehold property in certain locations throughout the province.  There are also different kinds of leases such as private, native and crown corporation (government).  In each case they are treated […]

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Inflation Hedge Mortgage Strategy

With the recent shift in shorter term mortgage rates a second look at the 10 year fixed term as an inflation hedge mortgage strategy may be a timely. For those home owners with some equity in their home who may want to consolidate debt or refinance to take out equity and buy a second home […]

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New to Canada and Establishing Credit

When you are new to Canada and establishing credit, deciding on the best way to create a good credit history can be difficult. You need a good credit rating in Canada if you are planning to rent or buy a home, buy a car or borrow money. By taking some important first steps to get […]

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Low Rate Visa Cards

Dominion Lending Centres has partnered with Visa and Desjardins to offer our valuable clients Low Rate Visa cards.  If you need to establish credit for the first time, to rebuild credit or want to manage your debt and lower your monthly costs, consider our range of credit cards.   There are six different cards available, including: Student […]

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The true cost of mortgage penalties

The true cost of mortgage penalties is a common concern and complaint among homeowners so it seems reasonable to review it once again as a follow up of my previous post in Sept 2012. Due to the sometimes complex calculations the banks use to determine this amount – consumers have been left in the dark […]

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