Learn Helpful Tips about Mortgages and Managing Your Finances

There’s a lot to know when it comes to mortgages. At DLC Regional Mortgage Group, we want you feel confident and make informed decisions regarding your finances. With that in mind, we’ve written articles to help you become educated about credit, equity and mortgages. We encourage you to browse our blog posts, or you can always give us a call to schedule a consultation.

  • 13/09/2017
    Mortgage Basics to Keep You in the Know – Property Taxes

    Sometimes it is a good idea to revisit the basics when looking at a complex thing like a mortgage. There can be misunderstandings which crop up. The mortgage process can be very stressful, as you wait for some anonymous entity to decide whether or not you are able to buy the home of your dreams. It is no wonder that things can get missed. Fear not! We will take a look at some of the basics so you can avoid things best avoided.



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  • 28/08/2017
    What Does the Future Hold for Mortgages?

    There have been a dizzying number of changes to the mortgage rules over the last 6 or 7 years. The red-hot markets in Toronto and Vancouver coupled with increased household debt and concerns over the risk to the Canadian tax payer through CMHC have caused the federal government to step in repeatedly.



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  • 01/08/2017
    Are You Financially Ready for Homeownership?

    Canadians are firm believers in homeownership. We see the long term benefits of paying down our own mortgage as compared to landlords. Our homes become our largest assets and often factor into retirement planning. Here are a series of the extra costs you should consider before writing that offer.


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  • 31/07/2017
    The Language of Mortgages

    Applying for a mortgage can be very stressful to say the least. It seems as though your hopes and dreams are held hostage to rules set by people you don’t know and your paperwork adjudicated by seemingly unreasonable nameless faces. To make matters worse you are hit with a whole bunch of new words which hold all kinds of significance. So let’s get rid of that piece of worry and look at the common words and phrases you will be hit with.


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  • 19/07/2017
    Time to Be Heard Canada!

    I met with a client recently who wanted to get a pre-approval before he sold his home. His neighbor is a very grouchy man who causes my client and his family a lot of stress. He just wanted to sell his home and move into a new one away from this situation. I had to tell him no and explain that although he has good credit and a very stable job he does not qualify under the new rules. He was saddened to hear that and is now faced with a decision of should he stay and put up with the situation or should he rent out his home and then he himself rent somewhere else. 


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  • 29/06/2017
    Reverse Mortgages – Maybe Not as Evil as You Thought

    The best part of writing about mortgages is that I get the chance to educate people about a topic which I find endlessly interesting. Reverse mortgages are certainly a topic which deserves some consideration. Everyone seems to be quite polarized over this issue, so it seems it is past time we took a closer look.


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  • 21/06/2017
    How to Interview a Mortgage Professional

    There is so much information about everything these days and quite frankly it is overwhelming to say the least. You want to make the best decision possible when it comes to the loan you are taking for your home but how can you be sure you are choosing the right mortgage professional to help you? Here is a list of questions you should be sure to ask. Even if you are working with your own financial institution, you should take the position of buyer beware.


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  • 15/06/2017
    To Port or Not to Port Your Mortgage?

    So you find yourself looking to move for whatever reason. Maybe you and the neighbours have become the Hatfield’s and McCoy’s or maybe your dream home has come available. Whatever the situation, when you find yourself considering a move, I hope you will remember this article and the sage advice it offers and save yourself some money. It is your money after all so you really should keep as much of it as you possibly can.

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  • 07/06/2017
    Things Mortgage Professionals Want Everybody to Know

    There have been so many changes to the mortgage universe and the whole thing can be really confusing, so let’s take a look at the some of the core things that mortgage professionals want you to know.


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  • 31/05/2017
    Things Mortgage Professionals Wished the Self Employed Knew

    The next installment in the things we wished people knew series is targeted at the self-employed. This intrepid group of risk takers are entrepreneurial and help keep the economy moving, but all too often we meet with these people and have to give news we would rather not give, so let’s look at what we wish they knew.

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  • 29/05/2017
    Mortgage Facts to Know Before You Buy This Spring

    Buying a home can be a really exciting time, so the last thing we want is for you to be hit by any surprises. Let’s take a look at 5 things to keep in mind before you write an offer.

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  • 19/05/2017
    Things That Mortgage Professionals Wish Those with Damaged Credit Knew

    Life can go sideways and that is a fact. Illness, divorce, death, longest recession in 30 years or whatever the cause is, before you know it you can find yourself with an awful credit rating and are unsure of what to do. These are the things we mortgage professionals wished you knew.

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  • 10/05/2017
    Things Mortgage Professionals Wished Young Adults Knew

    So we are going to do a series over the next few weeks of things the average mortgage professional wished people knew so that they would not be held back by inadvertent missteps. This week we will look at young adults just starting out. Let’s outline 5 things you really need to be aware of to set yourselves up for true financial dominance.

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  • 03/05/2017
    Why Does My Mortgage Lender Hate Me?

    If it seems like it is harder to get a mortgage that is only because it is. Scallywags and scoundrels have committed fraud on a massive scale and so the lenders all have to ask for a pile of paperwork to prevent fraud. The government is looking to make sure that we don’t get in over our heads and so they have implemented changes to all things mortgage. And finally, the whole dang global economy seems unable to get its bearings so everyone has to be even more diligent about everything so that don’t get stuck with a pile of foreclosures.

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  • 03/05/2017
    Why Is Your Rate Higher When You Have Equity?

    It seems counter intuitive that a person with 5% down be offered a lower rate than someone with 20% down. Clearly the second person appears to be much financially stronger. Either they have sold an asset like a home or they have saved extra funds or through some other means they have 20% or more to put down. Or maybe this is existing equity already in place after years of mortgage repayments. This savvy consumer goes to apply for a mortgage after having researched the lowest rates only to be told when they get the approval that those very low rates are only for people with less than 20% down. That seems ridiculous really as the person with more skin in the game, so to speak, is less likely to default on their mortgage and lose that substantial equity stake. It is true nonetheless so let’s take a look at why.

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  • 06/04/2017
    The 2 Types of Mortgage Penalty Calculations

    We have all heard the horror stories about huge mortgage penalties. Like the time your friend wanted to refinance her home so that she could open a small business only to find out that it was going to cost her a $13,000 penalty to break her mortgage. This should not come as a surprise. It would have been in the initial paperwork from the mortgage lender and seen again at the lawyer’s office. A mortgage is a contract and when it is broken there is a penalty assessed and charged. You will have agreed to this. The institution that lent the money did so with the expectation that they would see a return on that investment so when the contract is broken there is a penalty to protect their interests. If you think about it, there is even a penalty to break a cell phone contract so the provider can recoup the costs they incurred so it stands to follow that of course there would be a penalty on a mortgage.

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  • 04/04/2017
    Your Mortgage Is More Than a Rate

    The mortgage process can seem huge and overwhelming. It can be an emotional process because a mortgage is the loan you are taking to buy a home for yourself and your family which makes it infinitely more than just a loan. Or it may represent the loan you are taking to refinance your home to invest in business dreams or to clean up some debts after life has thrown you sideways.

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  • 23/03/2017
    The New Real Realities about Mortgages

    So the news has been full of information about mortgage over the last few months, and it can be very overwhelming, to say the least. We are going to take a look at the new reality of the mortgage landscape in Canada in an attempt to dispel some of the misconceptions.

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  • 06/02/2017
    Reading This Article Could Save You Thousands of Dollars!!

    (AKA How to Renew Your Mortgage in 5 Easy Steps)


    What is a mortgage renewal you ask?

    Each mortgage has a set term which can vary from 1-10 years. Just before the end of your term you will receive and offer from your current lender and you have 3 options:

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  • 06/02/2017
    4 Steps to a Financially Fit You in 2017

    Well you have likely noticed that it is time for resolutions according to the plethora of fitness equipment and organizational plastic bins on sale in every flyer you open. It seems fitting that we take a 3 step approach to positioning yourself for financial fitness in 2017 and beyond as well.


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  • 06/02/2017
    5 Reasons a Mortgage Broker Is Your Best Choice

    So it seems that there are still Canadian consumers who have reservations or misunderstandings about why a mortgage broker is their best choice. Time to take a quick look at 5 reasons you should use a broker.


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  • 06/02/2017
    What Does It Actually Mean to Co-Sign for a Mortgage

    There seems to be some confusion about what it actually means to co-sign on a mortgage and you know that where there is confusion, your trusted mortgage professional seeks to offer clarity. Let’s take a quick look at why you may be asked to co-sign and what you need to know before, during, and after the co-signing process.


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  • 26/08/2016
    How to Grow Great Credit
    One of the comments I hear the most often from people is that they wish financing literacy was taught in school. I cannot agree more. The worst of it is when I meet with someone and…
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  • 25/07/2016
    Acceptable Down Payment Sources
    The level of documentation which is required for the average mortgage these days can be very frustrating. It can seem endless and very nitpicky and annoying because we are able to purchase a vehicle with…
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  • 18/07/2016
    What the Heck Is Mortgage Default Insurance
    What the heck is mortgage default insurance anyway? So when you are getting a mortgage you start to learn about terms that you become somewhat familiar with but…
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  • 13/06/2016
    How Your Credit Score Is Determined
    We all know that we have a credit score which can seem to be determined by powerful and nameless beings behind the…
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  • 02/05/2016
    Stop It!
    There comes a time when things just start to wear out and you have to replace them. Bigger ticket items like a new kitchen or…
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  • 29/03/2016
    What to Do After Your Credit Is Damaged
    It is a matter of fact that life can be much unexpected. Perhaps you have been hit hard by this economic…
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  • 28/03/2016
    Reno Financing
    There comes a time when things just start to wear out and you have to replace them. Bigger ticket items like a new kitchen or…
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  • 27/03/2016
    Did Your Lender Really Mean No?
    The truth of the matter is that the mortgage lending landscape has changed drastically in the last few years. What…
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  • 11/03/2016
    Jingle Mail Debunked
    There have been many stories on the news in the last little bit about a surge in jingle mail. What is jingle mail you ask? It…
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  • 07/03/2016
    Do You Need a Ferrari Level Mortgage
    We all want the best. For instance, a Ferrari is way better than a minivan. It’s faster, sleeker and much more prestigious. But what if you have 3 children and drive to hockey every Saturday and need…
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  • 01/03/2016
    How to Get a Fully Loaded Mortgage
    Be it fully loaded or all the bells and whistles, as savvy consumers we want to know that we got every bit of extra…
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  • 01/02/2016
    The Mortgage Process
    Obtaining mortgage financing can be very confusing especially since the rules are constantly changing. Knowing the basics of what to…
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  • 25/01/2016
    Tips to Painlessly Having Your Best Financial Year Ever
    Welcome to 2016! We have all had a few weeks to settle in now and get back to reality and as…
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  • 04/01/2016
    How to Get Your Kids Out of the House
    When the kids are little and oh so sweet it is hard to imagine ever wanting them to leave the nest but as any parent of a…
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  • 04/01/2016
    What Did 2015 Mean to the Mortgage World?
    Happy New Year! It’s always a little bit hard to believe just how fast the old year actually passes, but here we are again, and before we move forward it is probably a great idea to take a quick look at 2015 to see how it will impact the year ahead. 2015 was the year of change...
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  • 29/11/2015
    Help Me Help You
    Dear clients and all good folks. What we as mortgage specialists would like you to know is that we want to get you into that home. We know that once you have placed an offer, you have already mentally hung the…
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  • 21/11/2015
    How to Successfully Kill Your Mortgage Approval
    When the kids are little and oh so sweet it is hard to imagine ever wanting them to leave the nest but as any parent of a…
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  • 03/10/2015
    Do You Have a Chocolate Covered Mortgage
    I have something shocking to tell you. Ready? Canadian banks are a business like any other. Gasp and shock! This is nothing less than the truth. They are mandated to produce profits and…
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  • 28/09/2015
    So, What Does That Mean? Mortgage Terms Explained!
    What does all that technical mumbo jumbo mean? Here are some common mortgage related terms. Getting a mortgage can be a daunting task. There is so much to know and understand including some pretty…
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  • 25/09/2015
    Know Your 5 C's of Mortgage Lending
    We all know the real estate industry is hot right now and for many getting into the housing market, it can be a pipe dream. With tightening government and lending regulations, historically low interest rates…
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  • 25/09/2015
    When the Media's Headline on Housing Is Wrong
    This Global News headline caught my eye recently; 25,000 Vancouver homes claim their total income is less than they spend on housing. Reading the story, I was curious about a few things: 1. How…
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  • 25/09/2015
    Verifying Your Downpayment
    Saving for a down payment is often one of the biggest challenges facing young people looking to break into the real estate market. The source of your down payment could come from…
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  • 24/09/2015
    China Weakness Could Postpone Fed Rate Hike
    A significant slide in a preliminary measure of China’s factory activity for September is getting more attention than usual because Janet Yellen mentioned concern about China’s…
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  • 23/09/2015
    The Truth about the Cash Back Mortgage
    We often see ads from the major lenders offering cash back incentives on their mortgage products. Gone are the days where a Cash Back Mortgage could be used to facilitate a purchase without the required…
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  • 21/09/2015
    How a Reverse Mortgage Can Help You Retire Better
    It seems like we have been here before doesn’t it. The price of oil is falling causing local business to stagnate and lay off slips to be sent. Governmental changes in policy…
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  • 21/09/2015
    How to Qualify for a Mortgage Post Consumer Proposal
    Congratulations you have made it through one of the toughest financial times in your life. It feels good to have this under control and know there is a light at the end of the tunnel. I too have…
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  • 18/09/2015
    5 Questions You Must Ask Your Mortgage Lender
    Are you shopping for a mortgage? The 5 questions to ask your mortgage lender outlined below will help make sure that you make an informed decision. Here are some questions you must ask your mortgage lender before getting a loan. Below are 5 questions…
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  • 17/09/2015
    Collateral vs Standard Charge Mortgage
    Since an increasing number of lenders are moving towards collateral charge mortgages these days, it has never been more important to understand the differences between a collateral and standard charge…
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  • 17/09/2015
    What Amortization Should I Have On My Mortgage?
    Short answer: the longest possible amortization you can get! However, the goal is to get the longest amortization possible, but then increase the payment or make lump sum payments to move the amortization…
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  • 17/09/2015
    4 Things That Will Kill Your Mortgage Approval
    Back in June 2012 OSFI (Office of the Superintendent of Financial Institutions) rolled out their B-20 Residential Mortgage Underwriting Practices and…
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  • 17/09/2015
    Qualifying Purchase Price
    Back in June 2012 OSFI (Office of the Superintendent of Financial Institutions) rolled out their B-20 Residential Mortgage Underwriting Practices and…
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  • 10/09/2015
    4 Tips to Help You if You're Struggling with Your Mortgage Payments
    Having a hard time keeping up your monthly mortgage payments? Luckily, there are options which may help you get back on track, including: mortgage refinancing, loan modification and rounding up payments, and making payment arrangements. Below are 4…
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  • 03/09/2015
    Mortgage Refinancing: 3 Reasons Why You Should Refinance
    Refinancing your mortgage can help obtain better interest terms and rates. In this article we’ll discuss several reasons why you should refinance your mortgage, including: to take advantage of low interest rates, to consolidate debt, and to tap…
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  • 27/08/2015
    3 Things You Must Know about Mortgages
    Getting a mortgage can be a hard process to navigate. In this short post we’re going to discuss 3 things you must know about mortgages, including: qualifications, down payments, and longer terms. Below are 3 things you must know about mortgages…
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  • 25/08/2015
    Why Does My Lender Hate Me?
    If it seems like it is harder to get a mortgage that is only because it is. Scallywags and scoundrels have committed fraud on a massive scale and so the lenders all have to ask for a pile of…
    Read More
  • 18/08/2015
    The Different Types of Mortgage Loans
    For those who want to apply for a mortgage loan then you should know about these different programs: 1. Fixed Rate Mortgage - with a fixed-rate home loan, your interest rate remains the same for the life of the loan and the…
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  • 14/08/2015
    The Devil Is in 5 of the Details
    I have something shocking to tell you. Mortgage brokers are human. Gasp!! But wait, so are lawyers, lenders…
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  • 11/08/2015
    Tips on Increasing Your Home's Value through Proper Maintenance
    Do you plan on selling your home? Then you can increase its value by following these simple home maintenance tips. 1. Beautify your bathroom - of all the rooms in your house, the bathroom is the workhorse. There is lots of wear…
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  • 04/08/2015
    Requirements to Qualify for a Mortgage Loan
    For those who are planning to qualify for a mortgage loan, here are the requirements for it: 1. Credit - your credit is one of the most important things that will be considered when determining if you qualify for a home loan. It…
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  • 04/08/2015
    Are You Ready for Sharknado?
    By now you have all heard of this splendidly silly series of made for TV movies about man eating shark infested tornados hitting the city of Los Angeles. I am certainly not going to debate the merits of the films but all the chaos and…
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  • 04/08/2015
    Porting Your Mortgage
    So remember when you bought your home? It was everything you wanted and so much more. But then something happened and you now need to move. Maybe 1 baby turned into 3, or you got a promotion which requires a…
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  • 30/07/2015
    Common Home-Buying Mistakes That You Should Know Of
    If you are still a newbie in buying a new home then you should be careful of the following mistakes: 1. Not budgeting for your first home loan - homeownership may seem like a wise alternative to renting, but it’s not necessarily…
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  • 21/07/2015
    Ways on How to Find a Good Deal on a Foreclosed Home
    1. Search bank websites. Banks often list their foreclosed properties for sale online. At Bank of America, for example, about 800 residential listings are posted, including 156 in California…
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  • 14/07/2015
    Things to Do Before Applying for a Mortgage
    1. Get Your Credit House in Order - buyers needs to do everything in their power to boost their credit before applying for a mortgage…
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  • 06/07/2015
    Things to Avoid Before Applying For a Mortgage Loan
    If you want to get your mortgage loan application be easily approved then make sure to avoid these costly mistakes…
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  • 25/06/2015
    When Times Get Tough
    So it is a hard reality that many people have been affected by factors well beyond their control. Be it the economy or an illness there can be many…
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  • 25/06/2015
    How to Choose the Right Home for You
    Check out these tips on how to make the right choice when buy a new home…
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  • 15/06/2015
    Your Credit Report
    So one of the things that seems to cause the most confusion is the whole credit score issue. This week we are going to…
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  • 15/06/2015
    Property Taxes
    It is that time of year again when many of you will be receiving your property tax bill in the mail and are not quite sure what to do next. Well fear not my friends, that’s what your trusted mortgage professional is for…
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  • 04/06/2015
    Types of Insurance with Your Mortgage
    The mortgage process can be confusing to say the least. Most of the time our attention is focused on the rate and terms but there are many pieces of the mortgage and the types of insurance…
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  • 15/05/2015
    A Quick Review of the Mortgage Process
    It is always nice to know what to expect before you head into a new situation and applying for a mortgage is no…
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  • 27/04/2015
    The Important P's of Mortgages
    With a name like Pam Pikkert I am sure you can understand that I am particularly partial to the alphabet’s most perfectly pronounced letter of P. I am kidding, of course, but after…
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  • 10/04/2015
    Fee Increases to Be Aware Of
    Well this article is not full of much good news at all but forewarned is forearmed as my old pappy used to say so let’s just dive right in and learn about 2 pricing increases…
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  • 10/04/2015
    For the Ladies!
    Ok ladies this article is written just for you. There are things which you need to know to make yourselves a financial Wonder Woman…
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  • 08/04/2015
    So it's Time to Renew Your Mortgage
    You have been living your life and things have been going just swimmingly and then (cue the music from Jaws) you get to notice from your current mortgage provider…
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  • 16/03/2015
    Rent to Owns
    There seems to be a lot of confusion over this topic which makes it ideal for us to look at this week. A rent to own is an agreement between a landlord and a tenant that within a predetermined time…
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  • 10/03/2015
    Recipe for a Great Mortgage
    There is a constant bombardment by the media about all things financial. The sky is either falling or everything is hunky dory. You want to be a savvy consumer when…
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  • 23/02/2015
    The Difference between a Draw Mortgage and a Completion Mortgage
    So if you are considering building a home this year you may want to familiarize yourself with the differences between a draw mortgage and a completion mortgage. You will discover…
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  • 26/01/2015
    Deciphering the Rate Announcement
    Last week the Bank of Canada surprised everyone by lowering the prime lending rate. They dropped the prime lending rate by .25% to .75%. The media have been all over this but what does it actually mean…
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  • 19/01/2015
    Surviving the Flucuating Price of Oil
    So due to international forces well beyond our control it appears that the price of oil is falling. Al Albertans we are well aware of the financial ramifications this can have to us personally…
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  • 19/12/2014
    Acceptable Down Payment Sources
    So there seems to be some misunderstanding about down payments. It’s no wonder really given that there were a number of changes made over the last few years by the government…
    Read More
  • 13/12/2014
    Introducing New and Improved Credit Bureaus
    You all know that when you met with your mortgage professional a credit bureau will have to be pulled. You are given a credit score based a set formula which uses a number of criteria…
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  • 01/12/2014
    Getting rid of Debts
    So let’s be honest, the upcoming holiday season may cause you to increase your debt load as you hunt for that perfect gift for everyone on your list…
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  • 15/11/2014
    Deciphering the Mortgage Pre-approval
    There are a plethora of terms out there in regards to a mortgage pre-approval. You are probably very well aware of the importance of…
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Applying for a mortgage with us is simple, efficient and secure, so why wait?

DLC Regional Mortgage Group

102-5229 50th Ave
Red Deer, AB T4N 4B4


110A McLeod Avenue
Spruce Grove, AB T7X 3A4


5 Richard Way SW, Suite 300
Calgary, AB T3E 7M8

Phone

Red Deer 403-343-1125
Spruce Grove 780-962-1929
Calgary 403-228-7800


Email 

info@regionalmortgage.ca

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