28 Sep

10 Questions for First Time Buyers

General

Posted by: Lynn Nequest

DLC BLOG 
10 Questions For First Time Buyers

10 Questions For First Time BuyersAs a first time home buyer, the process of purchasing a home can seem very daunting.  From a financing standpoint, here are 10 common questions I hear from first time home buyers.

 

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19 Sep

Acceptable Down Payment Sources

General

Posted by: Lynn Nequest

Acceptable Down Payment Sources

Acceptable Down Payment SourcesThe level of documentation required for the average mortgage these days can be very frustrating. It can seem endless, very nitpicky and annoying because we are able to purchase a vehicle with just a paystub. There are a few reasons for the increased documentation requirements.

The first is that the banks are mandated by the Anti-terrorism Act to make sure all funds are legally sourced. Criminal organizations do exist even  in say, Central Alberta, and they are clever and will launder their funds however they can.

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9 Sep

Life Happens, Let Your Home Help

General

Posted by: Lynn Nequest

 
Life Happens, Let Your Home HelpSometimes “life happens”, and when it does, your home can be your savior if you have accrued some equity in it. Maybe you’ve been out of work, run up your credit cards and driven your credit rating into the ground. Perhaps, you’ve decided to leave the job you hate and venture out into the world of owning your own business. Whatever it may be, the equity in your home can help.

I recently helped a client who had maxed out her high interest credit cards due to not being able to work for a couple of years, and the credit card debt had lowered her credit score substantially. She was now back to work as a self employed consultant earning a good income, but the $1,000 monthly interest payments she was paying was seriously eating at her cash flow and not reducing the principal she owed. Dead money!!

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