Scaling Down

Moving? Raymond Walia 19 Feb

Moving to a larger house is not the only time that things can change with your home and mortgage. Sometimes there comes a point when owning a home becomes a little too much to handle or maybe you’re an empty-nester and no longer need three extra bedrooms. Whatever the reason, downsizing is a great option […]

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Moving On Up!

Moving? Raymond Walia 19 Feb

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 […]

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Your current Mortgage

Moving? Raymond Walia 19 Feb

If you are wanting to up- or down-size your home, and are doing so during your current mortgage cycle, there are a few things to keep in mind. The first, is that making any change to your mortgage during your mortgage term is considered “breaking” the mortgage. PORTABILITY If your mortgage is portable, moving up […]

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Overview

Moving? Raymond Walia 19 Feb

Life is constantly changing, from your career to your family, as we climb up the ladder of life. With these life changes, your current home may no longer be working for you. If you’re feeling cramped in your tiny apartment or have a little one on the way, it may be time to consider moving […]

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Expert Advice

Second Property Raymond Walia 19 Feb

Before you jump into the purchase of a secondary property, consult with a Dominion Lending Centres mortgage professional. They can help review your financial situation, current mortgage and equity, and help you make a plan. The keys to success are right around the corner with a little bit of expert advice! Published by DLC.

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Who Can Qualify

Second Property Raymond Walia 19 Feb

You might be surprised to learn that you don’t need to be one of the uber rich or make six figures to have second properties. You just need to have knowledge, determination and a financial plan! When it comes to purchasing a secondary property, whether for investment, rental or vacation, it can be a great […]

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Intention To rent

Second Property Raymond Walia 19 Feb

If you are purchasing a secondary property – whether a vacation home or investment property – there are a few differences if the intention is to rent. Before you look at purchasing a rental property, there are a few things to consider: The minimum down payment required is 20% of the purchase price, and the funds must […]

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Vacation Properties

Second Property Raymond Walia 19 Feb

Buying a vacation property is essentially like purchasing a second home. The minimum down payment remains 5% of the purchase price and will require the same processes as your first mortgage. If you are purchasing a non-winterized vacation home, or will not have year-round access, then you will be required to put down 10%. It […]

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Purchasing a Second property

Second Property Raymond Walia 19 Feb

In the case of purchasing a secondary property, most lenders will allow you to borrow money against the equity you have in your current home and use it as a down payment for a second home. Before jumping in, it is important to understand the different financing options to determine which route best suits your […]

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Overview

Second Property Raymond Walia 19 Feb

So, you are looking to purchase a second property! Congratulations! This is an incredible opportunity and we are here to help provide you with the keys to success to expand your financial portfolio and ensure stability for the future. Before you launch into this purchase there are a few things you should know, such as […]

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