Home

RESIDENTIAL & COMMERCIAL MORTGAGES

Grant Powell is a mortgage expert with Dominion Lending Centres- DLCBC Mortgage Group. Based in downtown Vancouver, he takes care of the residential and commercial financing needs for both first-time and repeat buyers.

 Video Presentation 

First-time Homebuyers 

Key considerations for first-time homebuyers:

• Where do you want to live?
• How much can you afford/want to spend?
• What type/size of property are you looking for?
• Are you the hands-on type looking for a home to renovate?
• Would you prefer to purchase a new home and wait for it to be built?
• Will you use your RSPs (government incentive) for the down payment?
• What type of mortgage best suits your needs (Open, Fixed, Interest Only, Cash Back, Line of Credit)? 

First Time Home Buyers List of 10 Steps

Refinancing 

The Power of Equity can Reduce Homeowner Monthly Expenses by up to 75%

Facts about why people owning property should refiance:

• Over 30 percent of Canadians do not pay their credit card balance each month.
• All credit cards and other unsecured loans are at a higher interest rate than typical mortgages which makes it is easy to get deeper and deeper into debt.
• The higher the balance on your credit cards, the faster it will bring down your credit rating
• The higher the balance on credit cards the more difficult to qualify for loans. 

Refinance up to 95% of the market Value of your home.

Here's an example of how it works:

Current home value:   $360,000
90% of current home value:    $324,000       
Less outstanding mortgage:   $198,000
AMOUNT OF CASH AVAILABLE:   $126,000

MONTHLY DEBT                   PAYMENT

Credit Card         $25,000           $750
Car Loan            $30,000           $520
Line of Credit      $20,000           $600
TOTAL              $75,000           $1,870 / MONTH

Pulling $75,000 out in equity to pay off the Credit Cards, Car Loan, and Line of Credit will REDUCE MONTHLY PAYMENTS from $1,870 to $450. In just one year, that adds up to $17,000 in savings. Just think what you could do with the money!!

Investment Property

You can invest in a property with as little as 5% Down Payment. This financing can come from a variety of sources, including equity from an existing property you may have.

Published article: Invest Like Donald Trump 

Vacation Property

With as little a 5% down from borrowed sources, you could own a great vacation, recreation or retirement property

 Mortgage Renewal                                                                      

About 4 months prior to the date of your mortgage renewal, your current financial institution will send you the new mortgage rates and terms for your property.

You are under no obligation to sign the mortgage forms and send them back. This is the perfect time to shop around. We will help you find a better rate so that you can pay off your mortgage faster and save money. You have nothing to loose and everything to gain - especially as our service is free of charge.