Jack Nasarzewski, Author at DLC NasaKasa

Reverse Mortgage Advantages and Disadvantages

A reverse mortgage, what is it, you ask? A reverse mortgage is a mortgage you can take out against your home, allowing you to borrow up to 55% of the property’s current market value. To qualify for a reverse mortgage, you must be at least 55 years old and a...

Boosting Your Credit Score and Mortgage Chances

You have just realized that it is finally time to become a homeowner, and that’s when you start doing some research. Most people, especially first-time buyers, don’t know the whole process, as they don’t teach you this in school. Not everyone will qualify for all lenders, rates, and terms. The...

Alternative Lenders

When most people think of mortgages, they think of big banks, like TD, RBC, CIBC, BMO, and Scotia Bank. Most consumers will go to their bank and apply for a mortgage pre-approval; soon as they get denied, they give up. These are not the only lenders available for mortgage financing....

You CAN Get Approved if You’re Self-Employed

Most people think that being self-employed means you can’t get a mortgage; we’re here to debunk that myth. The reality is that it is possible to get approved for a mortgage if you are self-employed; you just don’t see it happen as often. BUT this doesn’t mean it isn’t possible,...

Dreaming of a second home in cottage country?

Are you dreaming of spending the holiday in someplace cozy yet safe? A second home is a home away from home. You can escape the stressful city life and get rejuvenated for the upcoming work week. The ongoing pandemic has made us realize- an investment closer to home is better. ...

Don’t Sign Your Mortgage Renewal Slip

Congratulations! You just become proud homeowners and enjoying your new space. It is amazing to get approved and be able to buy your dream home. While purchasing a property, you enter into an agreement for a specific period known as the mortgage term. Currently, the mortgage terms are usually for...

Mortgage Rates Are Rising. Lock In Today!

The Canadian housing market made it to the 2020's headlines throughout the year. Canadian real estate experienced record-breaking activity despite the pandemic and financial challenges. 2021 started on the same note, with many key housing market indicators continuing to set records. According to the Canadian Real Estate Association, over 714,000...

Buy A Home With Bad Credit?

You have heard it always- if you have bad credit, you cannot get approved for a mortgage. You can find a lot of misinformation about buying a home; let us clear up this popular mortgage myth. A credit score is an essential metric that determines your eligibility to get approved...

How To Win A Bidding War? Get Pre- Approved

The ongoing pandemic has pushed many Canadians to re-evaluate their current housing situation. According to the Canadian Housing Market Outlook (2021) Report, 40% of Canadians felt their homes needed upgrades, and 29% thought they needed to up-size and want bigger space. It has resulted in a housing supply shortage, which...

Don’t Forget The Closing Costs

Normally when you are planning to buy a house, you are just focused on saving a certain amount of money for the down payment. However, you have to incur some additional costs that come with closing the transaction. You may get surprised with “closing costs” as you approach your closing...

Questions about Income Verification Answered

Homeownership may feel like a distant, impossible dream for many Canadians. It is important to understand the basics of getting a mortgage while buying a home. A mortgage is one of the largest financial commitments in your life, and it takes more than just qualifying for the loan. Before you...

Self Employed Mortgage in COVID-19

In the year 2020, mortgage rates have steadily declined and have reached an all-time low. The ongoing pandemic has also pushed home buyers to begin house hunting for many reasons - either downsize or upsize depending upon their current living situation. It could be overwhelming for many Canadians to climb...

Things to know before buying your first home

Buying your first home can be exciting and nerve-wracking at the same time! It is one of the biggest purchases in your life - so it is absolutely normal to feel overwhelmed. To beat this home buying maze, it is important to get well versed in the buying and mortgage...

Record Breaking Lows Coming to an End?

A mortgage is more than just a number. When deciding what type of mortgage would suit your needs the most, you should understand all types of mortgages and their pros and cons. The easiest way is to work with a mortgage professional. Mortgage brokers and agents are licensed professionals with...

5 Mortgage Hacks for Self-Employed

It’s not always easy to get approved for a mortgage, especially when it comes to being self-employed. However, it doesn’t mean it’s impossible, especially not here at Dominion Lending Centres NasaKasa. Many lenders often view self-employed individuals as higher risk because their income can differ from year to year. Mortgage...

How to Pay Off Your Mortgage Faster

Canadians are carrying a record amount of debt. Your mortgage is one of the biggest and longest-running debts you will ever pay. The monthly payments can consume a large percentage of your earnings thus reducing your cash flow. Paying down your mortgage will not only lower your debt, but it...

4 Tips For Mortgage Renewal

Most mortgages will need to be renewed at least once before they are paid off. A mortgage renewal is when you renew the balance of your mortgage for another term at a different mortgage rate. Unless you have the cash to pay off your mortgage in the first term, you...

5 Tips To Save for A Down Payment

Where are first-time buyers getting the money?  If you aren’t one of the lucky ones to get help from your parents, heroic savings measures are needed by anyone thinking of buying in cities like Toronto and Vancouver. You must make sacrifices on all your spending. Here are five ideas that...

Mortgage Pre Approval Explained

The mortgage pre-approval is the very first step in the home buying process. It may sound like a less-than-thrilling first step but it’s an essential one. If you do not get a mortgage pre-approval, you could miss out on getting the house of your dreams. A mortgage pre-approval is when...

Top 10 Mortgage Mistakes To Avoid

Not Knowing What You Can Afford  One common mortgage mistake that borrowers often make is not figuring out how much they can afford before beginning the property search. Before you even begin to think about looking at MLS for houses, you should get a mortgage pre-approval. This way your real...

COVID-19 And Your Mortgage Financing Options

The COVID-19 pandemic, with all the uncertainty surrounding it, is a cause for concern for a number of reasons. If you have had to go into self-isolation and as a result lost hours at work, you may be worried about how you are going to be able to make your...

6 tips for first time home buyers

Thinking about taking the leap of buying your first home? Here is what you will need to know before jumping in. Home buying is a process, one that requires some simple advance planning - the better prepared you are, the easier it will make the process run as smoothly as...

How Your Credit Score Affects Your Mortgage Application

The number one determining factor in obtaining advertised mortgage rates is your credit score. Your credit score is the primary factor that determines whether you can avail of the best rate available for your mortgage application. What Is A Credit Score? A credit score is a number between 300 and...

8 Reasons To Consult A Mortgage Broker

You wouldn’t represent yourself in a courtroom, would you? Or worse, you wouldn’t let the defense lawyer also represent you, would you? By not using a mortgage broker and trusting one single bank to give you a loan, you are doing just that. While there are numerous reasons to use...