I WOULD LIKE TO:
Frequently Asked Mortgage Questions
Do we have to meet in person to complete a mortgage? We do not have to meet in person
to complete a mortgage transaction. Application and documents can be sent electronically to secure your
mortgage. You will however have to meet with a Solicitor to complete the legal documents prior to your
mortgage being funded by the lender.
I'm looking for a mortgage and wondering what your mortgage rates are? You will see
mortgage rates advertised all over the place and this is because it's easy for lenders to display a low rate to
attract potential customers. The advertised low rates may have restrictions and strict qualifying guidelines.
At DLC Integrity Mortgage BC we strive to get you your best rate for a mortgage product that fits your
circumstance. To determine your mortgage rate we will require information from you such as your income,
property type, credit report, future plans and more. We want to make sure you are placed in a mortgage
with terms that you are comfortable with and that protect your bottom line.
How much equity can I pull out of my home to buy another home?
The quick answer is that you can refinance your home to 80% of the appraised value with most lenders. Your available equity would be 80% of the value less any current mortgage balances. Many lenders restrict the equity take out to $200,000 and other mortgage refinance possibilities may exist so it's best to contact us to discuss your unique circumstancesI want to buy a house to live in, how much money do I need? A minimum down payment
of 5% is required to purchase a home plus an additional 1.5% for closing costs. Down payments can be
from your own resources such as savings, RRSPs or a gift from an immediate family member or from
borrowed sources for qualified borrowers. If you are a first-home buyer and have your down payment
saved contact us to discuss mortgage options that may be available to you that could assist with the closing
costs.
I found a house that I love but the roof needs to be redone which the seller isn't
willing to replace. I also don't want to carry the cost for the upgrade on my line of
credit as it would take me some time to pay it off at a high interest rate. Are there
any other options available? Yes! We have access to a product called a Purchase Plus
Improvements Mortgage. This unique product helps purchasers incorporate costly upgrades into their
mortgage at lower rates than other financing means. Quotes from builders will have to be obtained prior to
approval and other conditions apply but this is a great option to improve your property right away.
I WOULD LIKE TO:
Licensed Sub Mortgage Broker with Dominion Lending Centres
Integrity Mortgage BC, © Copyright, Dominion Lending Centres Inc.
Each Office Independently Owned and Operated
Frequently Asked Mortgage
Questions
Do we have to meet in person to complete
a mortgage? We do not have to meet in person to
complete a mortgage transaction. Application and
documents can be sent electronically to secure your
mortgage. You will however have to meet with a
Solicitor to complete the legal documents prior to
your mortgage being funded by the lender.
I'm looking for a mortgage and wondering
what your mortgage rates are? You will see
mortgage rates advertised all over the place and this
is because it's easy for lenders to display a low rate to
attract potential customers. The advertised low rates
may have restrictions and strict qualifying guidelines.
At DLC Integrity Mortgage BC we strive to get you your
best rate for a mortgage product that fits your
circumstance. To determine your mortgage rate we
will require information from you such as your
income, property type, credit report, future plans and
more. We want to make sure you are placed in a
mortgage with terms that you are comfortable with
and that protect your bottom line.
How much equity can I pull out of my
home to buy another home?
The quick answer is that you can refinance your home to 80% of the appraised value with most lenders. Your available equity would be 80% of the value less any current mortgage balances. Many lenders restrict the equity take out to $200,000 and other mortgage refinance possibilities may exist so it's best to contact us to discuss your unique circumstancesI want to buy a house to live in, how much
money do I need? A minimum down payment of
5% is required to purchase a home plus an additional
1.5% for closing costs. Down payments can be from
your own resources such as savings, RRSPs or a gift
from an immediate family member or from borrowed
sources for qualified borrowers. If you are a first-
home buyer and have your down payment saved
contact us to discuss mortgage options that may be
available to you that could assist with the closing
costs.
I found a house that I love but the roof
needs to be redone which the seller isn't
willing to replace. I also don't want to
carry the cost for the upgrade on my line
of credit as it would take me some time to
pay it off at a high interest rate. Are there
any other options available? Yes! We have
access to a product called a Purchase Plus
Improvements Mortgage. This unique product helps
purchasers incorporate costly upgrades into their
mortgage at lower rates than other financing means.
Quotes from builders will have to be obtained prior to
approval and other conditions apply but this is a great
option to improve your property right away.
