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The latest thoughts and insights from Geoff Lee and GLM Mortgage Group | Dominion Lending Centres

Investment Property Team: Align Yourself With a Grade A Team

Investment Property Team Why is it important: In life it is not only about the person you want to be, but also the people you surround yourself with, because they help shape you into the person you want to be. When starting an action plan with Investment Properties,...

Investment Properties 101: Good Tips to Know Before Starting

Investment Properties Introduction Last Week we discussed Amortization Periods and how it is an important aspect to consider when signing a contract with a lender. As we have discussed in the past on many blogs, the personalities of your mortgage are just as important...

Are Shorter or Longer Amortization Periods Better?

Why is it important: Amortization periods are such an important aspect to understand when looking at particular mortgage packages with lenders. It is important to understand the personalities of a mortgage, in which amortizations are one aspect. 25 year amortizations...

Porting and Extending: How Does it Work?

Porting and Extending How does this affect a borrower: Port and Extend, or what some people call a blend and extend, is a way to transfer your mortgage onto another property while increasing your mortgage amount. A non frill mortgage will not allow you to do that (a...

Porting a Mortgage: Can it save money?

How does this affect a borrower: The ability to port a mortgage means that you do not have to pay a penalty in breaking that mortgage since you are moving it from one property to another, providing that you qualify. One of the biggest misconceptions when porting a...

Breaking a Mortgage: Is it a Good Thing?

How does this affect a borrower: It is important to understand how breaking a mortgage can affect you based on your lender, because it can vary in cost and types of penalties. 7 out of 10 people break their mortgage, so you are likely to break yours at some point in...

Prepayment Options for Mortgages: What should you know?

Prepayment Options for Mortgages Rates, rates, rates. Mortgage Brokers answer a lot of questions, but one thing that rings very true is that people focus very heavily on rates. It would be unwise for us to say rates are not important, because they are very important...

Bank of Canada Kept Key Interest Rate At 4.5%: What Does this Mean?

Bank of Canada Kept Key Interest Rate To 4.5% Today the Bank of Canada launched their decision to keep the rates steady. This was widely expected as the Bank of Canada will want to continue to monitor the delayed effect of already completed hikes and see what...