Karen Lagore - Dominion Lending Centres Mortgage Mentors - Mortgage Broker

Karen Lagore - Dominion Lending Centres Mortgage Mentors - Mortgage Broker I can help make your dreams come true with mortgage financing! Whether it be a first time home owner or a refinance, give me a call! My services are free

Whitewater rafting with the family!!!
09/10/2023

Whitewater rafting with the family!!!

Fun, fun, fun with my little mama and daughter! 3 generations of laughter and fun!
08/19/2022

Fun, fun, fun with my little mama and daughter! 3 generations of laughter and fun!

Covid doesn't stop us from a Business Luncheon with some amazing Home Care Workers!
10/08/2020

Covid doesn't stop us from a Business Luncheon with some amazing Home Care Workers!

09/23/2020

Do you have your mortgage coming up for renewal? Did you know I can move it to another lender, no fees, and get you the best interest rate? I have 120 day rate hold. . . .

AND if rates drop between now and then, you get the lower rate! It's a win -win all day long!

06/02/2020

Did you know . . . if you have a mortgage renewal coming up that I can help you get the lowest rate available? You bet I can!! Give me a call, 780 299 8339

How to get a 45 second mortgage pre-approval? And guess what? No credit bureau pulled!!! Go to my website www.karenlagor...
05/01/2020

How to get a 45 second mortgage pre-approval? And guess what? No credit bureau pulled!!!
Go to my website
www.karenlagore.ca
Click on Download my mortgage toolbox
Voila! You can calculate many scenarios!

05/01/2020

Happy May 1
2020
Welcome Springtime

Violet has been living in the quaint farm house she grew up in most of her life. She recently helped her children throug...
04/22/2020

Violet has been living in the quaint farm house she grew up in most of her life. She recently helped her children through some financial difficulty and eventually found herself facing a similar challenge.

After focusing her financial resources on helping her family while maintaining her aging home and lifestyle, Violet’s bills began to pile up. Although her son returned the favour and paid her property taxes. She still had some outstanding debt that needed to be addressed.

Violet wanted to access some money to renovate her kitchen and bathroom, eliminate her debt, and have a little extra income. To help her obtain her financial goals Violet’s mortgage broker suggested a CHIP Reverse Mortgage through HomeEquity Bank. She was able to pay off her debt, have enough funds to renovate her home, and give her monthly income a boost.

Today, Violet enjoys the home she’s spent most of her life in and lives a comfortable lifestyle without worrying about her finances. If you would like to learn how a CHIP Reverse Mortgage can be an effective tool in your retirement plan, please contact me at [email protected] or phone me at 587 274 3349

03/26/2020

For any customers that need to contact their lender for mortgage payment deferrals, please give me a call to discuss options. If you have access to your customer portal, you can log in for requests there. Feel free to call me to discuss.
Here is my list of contacts:
ATB 1-800-332-8383
B2B 1 800 263 8349
BMO 1-877-895-3278
Bridgewater 1-866-243-4301
CIBC 1-800-465-2422
CMLS 1-888-995-2657
Optimum 1-866-441-3775
Equitable 1-888-334-3313
Connect First 403-736-4000
Chinook Financial 403-934-3358
First Calgary Financial 403-736-4000
First National 1-888-488-0794
Haventree 1-855-272-0051
Home Trust 1-855-270-3630
HSBC 1-888-310-4722
ICICI 1-888-424-2422
Manulife 1-877-765-2265
MCAP 1-800-265-2624
Merix 1-877-637-4911
Marathon 1-855-503-6060
RBC 1-800-769-2511
RFA 1-877-416-7873
RMG 1-866-809-5800
Scotia 1-800-472-6842
Servus 1-877-378-8728
Street Capital 1-866-683-8090
TD 1-866-222-3456
ATB 1-800-332-8383
Servus CU 1-877-378-8728

01/03/2020

Are you looking to purchase a home in January? You may discover a hidden gem while everyone else is sipping eggnog!
Call me for mortgage financing at 780-299-8339.

11/14/2019

PRINCIPAL & INTEREST
Principal and interest are the two components that make up a mortgage payment. Principal is the portion of your payment that goes towards paying down the outstanding balance of your mortgage. Interest is the other portion of your payment which goes directly into the pockets of your lender and does not contribute to paying down your mortgage balance.

What some people may not realize is that a compounding interest rate (what the majority of all mortgages are) is weighted differently depending on how many years you have left on your mortgage.

If a young couple were to purchase their very first home, lets say $500,000 for example, and they had a $100,000 down payment, their mortgage would be $400,000. If they had today’s interest rates, their mortgage would be around 3%, compounded semi-annually, over 25 years with their interest rate re-negotiable every 5-years if they keep the same term. Assuming they were able to get 3% for the entire 25-years, their monthly payments would be $1,892.98 a month for the life of their mortgage.

Their first payment however is not $1,892.98, with 97% of it going to paying down the $400,000 balance and 3% going towards interest. The very first payment would actually be broken down as $993.81 of interest and $899.17 going towards paying down the principal balance of $400,000.

Now, it wont stay like this forever, the very last payment before the first 5-year term is up would be broken down as $854.62 going towards interest and $1,038.36 of the $1,892.98 going towards paying down the principal. It wouldn’t be until year 10 where the interest portion dips below $500.

If you can, any pre-payments you make each month will directly pay down the principal balance outstanding. This will also in turn, allow for less interest to be charged as interest is always calculated based on the current balance outstanding. In the later years, it may not be as advantageous, but in the first 5-10 years, it can be extremely beneficial.

If you want to see the break down of principal and interest portions inside your own mortgage, feel free to reach out to me! phone 780 299 8339 or email: [email protected]

Address

260 91 Street SW
Edmonton, AB

Opening Hours

Monday 9am - 8pm
Tuesday 9am - 8pm
Wednesday 9am - 8pm
Thursday 9am - 8pm
Friday 9am - 8pm
Saturday 9am - 8pm

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