Dominion Lending Centers- Premier Mortgages

11/18/2022

Did you know? Reverse mortgages are continuing to gain popularity for older homeowners in Canada! For many Canadians who are looking to retire but currently facing high debt load and ongoing expenses, as well as reduced income, it can be a challenge. This is where the reverse mortgage can help!
This product is also a great option for anyone wanting to assist their elderly parents. Instead of selling the home and moving them to a care home or assisted living, a reverse mortgage is a terrific way to access the equity in the home, month by month, to pay for in-home and ongoing care costs.
The goal of the reverse mortgage is to allow Canadians over 55 years to tap into the equity of their home, which assists in comfortable financial living. With a reverse mortgage, however, borrowers are not required to make regular payments. This allows them a considerable inflow of cash, without having to pay off what they owe! The only time payment will be required is when you sell or move out of your home.
Reverse mortgages are designed to allow you to access up to 55% of your home's equity, thereby allowing you to convert your home equity into cash. This can be done as either a one-time lump sum payment, or you can choose to structure it to receive monthly payouts. Beyond being able to cash in on your home’s equity, a reverse mortgage has additional benefits including:
No monthly mortgage payments
No income or credit qualifications
Very low / little paperwork required
Title and ownership of property remain in homeowner’s name
Flexible options to break term early if needed
Penalty waived in the event of death or care home placement to preserve the estate
If you are struggling financially, or want to have a little extra equity on hand to pay off existing debts, gift money to family, expand your quality of life or simply increase your investment portfolio, contact me today! I would be happy to discuss the possibility of a reverse mortgage in further detail with you and ensure it is the best product to suit your needs.
If you Have any questions please reach out to me at 519-496-6899 or [email protected]
published by Dominion lending Center

11/18/2022

With the holiday season closing in on us I am helping with the bikes for drive drive with Premier Mortgages team. We are looking for donations of new bikes and helmets to be delivered to kids in need and put a smile on their faces for the holidays. If you can help it is greatly appreciated. The tentative date is December 14 2022 to hand out the bikes. If you have any questions please reach out to me at 519-496-6899 or [email protected]

https://www2.mambonetcom.com/data/client_dominion/videos/Bikes_For_Kids.mp4

11/11/2022

Today we remember all who gave their lives for us to have freedom. Thanks to all who have served our and still severing to keep giveinh us our freedom. If you can make to a cenotaph in your community please do. I will be at the one in Waterloo today in my legion uniform paying my respects to the all military past and current.

09/07/2022

If you have questions please reach out to me at 519-496-6899.I will be more than happy to answer any mortgage question you may have

The Bank of Canada has raised its key interest rate by three-quarters of a percentage point, bringing the central bank's target for the overnight rate to 3.25 per cent.

08/05/2022

Do you know the difference between a adjustable rate mortgage vs a variable rate mortgage? If you have any questions please reach out to Jason Babcock Premier Mortgages at 519-496-6899.
https://canadianmortgageapp.com/.../variable-rate-vs.../....

07/27/2022

https://kitchener.ctvnews.ca/lower-prices-mean-higher-stress-tests-for-homebuyers-1.6003214

Despite a downward trend in homes prices in Kitchener, the annual income you need to buy a home is actually going up.

07/13/2022

Ouch!

Rather than continue to take small steps in raising interest rates to combat inflation, the Bank of Canada ripped off the band-aid today and made a big move.

This means the Prime Rate will move to 4.70%.

So, should you lock into a fixed rate if you are currently in a variable mortgage?

Lenders always give the option to lock into a new 5 year term at the current fixed rate.

Well, I don't have to pay your mortgage so please do what you feel is best for your family, but here's why I may not be quick to lock in:

Your fixed rate option is currently in the low 5's. If you have a Prime -1.00% mortgage and locked in today, you'd be guaranteeing yourself a 1.30% higher rate for the next 5 years with no chance to take advantage of lower rates if they come down. You'd also be throwing away all the penalty benefits that come with variable mortgages.

Plus, the bond market dictates what happens with fixed rates, and right now things have somewhat stabilized (if not gone down), so I think that ugly 5% rate will still be there if/when you decide to lock in down the road.

The next Bank of Canada announcement is not until September 7th.

📲 (226) 338-5136
📨 [email protected]

04/15/2022

Have you heard about the mortgage rates going up? If so this is the time time to lock in your rates now. If you have any mortgage questions please give me a call and I will be more than happy to help you. You can reach me on my cell at 519-496-6899 or email me at [email protected]

04/06/2022

If you are over 55 the CHIP Reverse mortgage can be for you. Give me a call today at 519-496-688.

More cash. Less worry

03/30/2022

This is a great opportunity for young women age 15-19 to learn about being a firefighter.

Info session on April 4

03/29/2022

03/11/2022

Happy March Break to all the kids with the week off school. Safe travels to all who are travelling to the sunny south and anywhere else they may be going.