Over the past number of years banks have come up with a rather confusing set of payment frequency options that have left some mortgage clients a bit disappointed 5 years down the road.

Rather than the Amortization crushing ‘Accelerated bi-weekly’ plan which a quality Mortgage Broker will discuss with you, clients left to their own devices run the risk of opting for simply ‘bi-weekly’ payments.  Here is the math;

Let’s use a $100,000 mortgage amount (to make working out your own numbers simpler) with a 25 year amortization, a 2.74% interest rate and a 5 year term.

Monthly Payments: $460.01
Ending Balance 60 months later: $85,043.18

Now let’s calculate bi-weekly payments and the balance remaining at the end of the 5 year term.

Bi-Weekly Payments: $212.18
Ending balance 60 months later: $85,043.60

The balance is 42 cents higher.  This is because you did not effectively pay anything extra over the 60 months to the lender.  The sum of the annual payments is identical.  Now let’s insert

the word ‘ACCELERATED’ (bi-weekly) into the equation.

Accelerated bi-weekly Payment: $230.00
Ending balance 60 months later: $82,563.13

Ah-ha, now you have a $2,480.47 lower balance, and you have paid $163.87 less interest over the 5 years.  Excellent!

How did this happen?  When one opts for ‘accelerated’ in the above scenario, the payment increases by $17.82 per payment, or $463.32 per year.  For a total of $2,316.60 in additional funds going straight to the mortgage balance.

The big picture is improved as well, as you have effectively lowered your amortization from 25 years to 22 years and 5 months.

Shaving 2.5 years off a 25 year mortgage might not seem huge, but in 22.5 years it surely will make you happy.  Imagine having $460.00 more per month (per $100,000 of mortgage balance) to play with for 2.5 years.

If you started with a $300,000 mortgage, then we are talking about $1380.02 per month X 30 which is a total of $41,400.60.  All from one word ‘accelerated’.

This question arises on a near daily basis within our social circles… Answer:  Today is the right day assuming one has found the specific property that works for them on all levels.

If the conversation is about a property which one plans to own for at least the next few years, then yes, the right time to buy is today.

Over a 7-10 year horizon the day-to-day, even the month-to-month gyrations of the market will tend to resemble those of a small yo-yo on a large escalator.  Yes there are some ups and downs but the lows often do not drop below the second last high. This is true of nearly any major urban 25 year chart of Real Estate Values.

There are some key considerations that will dictate not only the continued value, but perhaps more importantly your own ability to stay put for that magic 7-10 year timeframe:

• Home location
• Layout
• Age
• Size
• Recreational amenities
• Schools
• Distance from workplace
• Potential basement suite revenue

The list goes on…

Getting all of these variables aligned is something that takes dedication on the part of the both the buyer and Realtor.  The hunt itself can easily consume a few weeks or more, and for some may result in dozens of viewings.  This is more than enough to juggle without also trying to ‘time the market’ on that perfect home.

Speaking of timing; consider allowing for a small overlap during which you have access to both the current residence as well as the new one.  Being able to install new flooring throughout, complete interior painting, or upgrade kitchens and bathrooms, without having to live in the middle of the disruption is well worth an

extra month of rent or the marginal costs of bridge financing.  The costs involved are surprisingly lower than most clients expect.

Keep in mind during your search that the MLS #’s are an imperfect indicator of what is happening today in the market, as in literally ‘today’.  MLS data reflects purchase contracts that were negotiated 30, 60, 90 or even 120 days prior to the completion date which was itself in the previous months report.  In other words, by the time the MLS data indicates a trend one way or another, said trend has in fact been in motion for as long as 6 months and could be either reversing or ramping up further.

Where then to get the most accurate data? Talk to frontline folks, Realtors, Brokers, Appraisers, etc. for a better handle on up-to-the-minute trends.  Ask an Industry Expert.

Short term fluctuations in values and/or interest rates are themselves not the key factors in many peoples decision to buy. Instead it is finding that perfect combination of all the factors that create a home within a community and the realisation that homeowners win in the long run by owning, not by sitting on the sidelines.

It is all about finding a place you can call home for the duration. To be able to plant roots and become a part of a community.  Home ownership will undeniably continue to be a part of living the Canadian dream.

Perhaps the (short term) timing will feel imperfect, as it did for presale buyers in 2007, whose completion dates were set for Spring 2009.  However, a few years later most will be glad that they bought when they did.  In fact many were smiling again as soon as the Spring of 2010.

Home ownership remains the one true forced savings plan. It is one of the best investments we make socially as it provides an individual and/or a family with a certain sense of security, stability and community.

• We are Canada’s largest and fastest-growing mortgage brokerage!
• We have more than 2,200 Mortgage Professionals from more than 350 locations across the country!
• Our Mortgage Professionals are Experts in their field and many are ranked among the best nationally.
• We work for you, not the lenders, so your best interests will always be our number one priority.
• We have more than 100 mortgage programs, making it easy to choose the best fit for your unique situation.
• We close loans in all 10 provinces and 3 territories.
• We can process your mortgage in as few as 7 days.
• We are the preferred mortgage lender for several of Canada’s top companies.
• Dominion Lending Centres’ Mortgage Professionals are available anytime, anywhere, evenings and weekends – and we’ll even come to you!

As a mortgage borrower – particularly if this is your first time embarking upon homeownership – there’s no doubt you have a load of questions related to the mortgage process. Aside from the most common questions, such as those relating to mortgage rate, the maximum mortgage amount you’ll be able to receive, as well as how much money you’ll need to provide for a down payment, the following five questions and answers will help you dig a little deeper into the mortgage financing process.

1. Can I make lump-sum or other prepayments on my mortgage without being penalized? Most lenders enable lump-sum payments and increased mortgage payments to a maximum amount per year. But, since each lender and product is different, it’s important to check stipulations on prepayments prior to signing your mortgage papers. Most “no frills” mortgage products offering the lowest rates often do not allow for prepayments.

2. What mortgage term is best for me? Terms typically range from six months up to 10 years. The first consideration when comparing various mortgage terms is to understand that a longer term generally means a higher corresponding interest rate and a shorter term generally means a lower corresponding interest rate. While this generalization may lead you to believe that a shorter term is always the preferred option, this isn’t always the case. Sometimes there are other factors – either in the financial markets or in your own life – you’ll also have to take into consideration. If paying your mortgage each month places you close to the financial edge of your comfort zone, you may want to opt for a longer mortgage term, such as five or 10 years, so that you can ensure that you’ll be able to afford your mortgage payments should interest rates increase.

3. Is my mortgage portable? Fixed-rate products usually have a portability option. Lenders often use a “blended” system where your current mortgage rate stays the same on the mortgage amount ported over to the new property and the new balance is calculated using the current rate. With variable-rate mortgages, however, porting is usually not available. This means that when breaking your existing mortgage, you will face a penalty. This charge may or may not be

reimbursed with your new mortgage. Some lenders allow you to port your mortgage, but your sale and purchase have to happen on the same day, while others offer extended periods.

4. What amortization will work best for me?The lending industry’s benchmark amortization period is 25 years, and this is also the standard used by lenders when discussing mortgage offers, as well as the basis for mortgage calculators and payment tables. Shorter timeframes are also available. The main reason to opt for a shorter amortization period is that you’ll become mortgage-free sooner. And since you’re agreeing to pay off your mortgage in a shorter period of time, the interest you pay over the life of the mortgage is, therefore, greatly reduced. A shorter amortization also affords the luxury of building up equity in your home sooner. While it pays to opt for a shorter amortization period, other considerations must be made before selecting your amortization. Because you’re reducing the actual number of mortgage payments you make to pay off your mortgage, your regular payments will be higher. So if your income is irregular because you’re paid commission or if you’re buying a home for the first time and will be carrying a large mortgage, a shorter amortization period that increases your regular payment amount and ties up your cash flow may not be your best option.

5. How do I ensure my credit score enables me to qualify for the best possible rate? There are several things you can do to ensure your credit remains in good standing. Following are five steps you can follow: 1) Pay down credit cards. This is the #1 way to increase your credit score. 2) Limit the use of credit cards. If there’s a balance at the end of the month, this affects your score – credit formulas don’t take into account the fact that you may have paid the balance off the next month. 3) Check credit limits. Ensure everything’s up to date as old bills that have been paid can come back to haunt you. 4) Keep old cards. Older credit is better credit. Use older cards periodically and then pay them off. 5) Don’t let mistakes build up. Always dispute any mistakes or situations that may harm your score by making the credit bureau aware of each situation.

As always, if you have any questions about the information above or your mortgage in general, I’m here to help!

Thermostats control heating and cooling appliances in houses. A setback thermostat gives the user the option of changing the temperature setting automatically at night and also during the workday when the occupants have left the house. A setback thermostat can help reduce overall household energy consumption.

A conventional thermostat simply regulates house heating at one temperature. For instance, in the winter, if you set the thermostat to 20°C (68°F), it will activate the heating system when the house temperature drops below 20°C and will shut the system off when the house air warms up past 20°C.

A setback thermostat contains an electronic clock. It can automatically turn down the temperature setting at night when you’re asleep, or during the day when you’re at work. It can also return the temperature to a more comfortable level before you wake up or arrive home from work. That way, you can have the energy savings of a lowered thermostat setting without the discomfort of having to wait for the house to heat up again.

The setback thermostat can also be used as a set-forward thermostat for an air conditioning system. It can allow the house to heat up when it’s unoccupied and return it to a comfortable temperature before occupants return from daytime activities.

Although this article deals with setback thermostats and forced-air heating systems generally, you can apply some of the advice to electric baseboards or to summer usage.

You can use a standard thermostat to set your house temperature lower during times when the house is unoccupied. This will lead to similar energy savings as with a setback thermostat, but without the convenience.

What’s a normal house temperature?

CMHC randomly surveyed Canadian households. Thermostat settings in the winter tend to be quite closely grouped around 20°C – 21°C (68°F – 70°F). Summer temperatures range much more widely, depending upon whether the house has air conditioning.

Where should I set the thermostat?

The more you reduce the thermostat setting, the greater the possibility for savings. Generally, a drop of 2°C (3.6°F) will lead to some savings and little risk. Some householders reduce temperatures 4°C – 6°C (7°F – 11°F). But, temperature differences this large create potential comfort and moisture problems.

Does setting back the temperature save energy?

Yes. Research from the Canadian Centre for Housing Technology shows that winter setbacks for the houses tested would result in heating cost savings of 5-15%. The highest savings came with a setback of 6°C (11°F). See CMHC’s Research Highlight: Effects of Thermostat Setting on Energy Consumption.

Savings for the summer were about the same, although simply raising the thermostat set point in the summer from 22°C (71°F) to 24°C (75°F) led to more significant savings than the set-forward strategy and also offered better indoor humidity control.

Note that these savings are for two airtight, well-insulated, unoccupied houses. The savings in your home may vary, but are likely to be in the same range.

To learn more about other sustainable technologies and practices that can improve the performance of your home as well as information on owning or buying a home, call Canada Mortgage and Housing Corporation (CMHC) at 1-800-668-2642 or visitwww.cmhc.ca.

• We are Canada’s largest and fastest-growing mortgage brokerage!
• We have more than 2,200 Mortgage Professionals from more than 350 locations across the country!
• Our Mortgage Professionals are Experts in their field and many are ranked among the best nationally.
• We work for you, not the lenders, so your best interests will always be our number one priority.
• We have more than 100 mortgage programs, making it easy to choose the best fit for your unique situation.
• We close loans in all 10 provinces and 3 territories.
• We can process your mortgage in as few as 7 days.
• We are the preferred mortgage lender for several of Canada’s top companies.
• Dominion Lending Centres’ Mortgage Professionals are available anytime, anywhere, evenings and weekends – and we’ll even come to you!

Securing a rate hold is like having insurance on your mortgage rate – you no longer have to worry about mortgage rates increasing while you find your new home over the next 90-120 days. And if rates drop within that same period, so too will your preapproved rate.

For instance, if you obtain a 3.00% rate hold and then global risks subside and the economy strongly recovers over the next three to four months, that 3.00% could easily jump to 3.5% or higher. In this case, your rate hold for 3.00% would have saved you half of a percentage point, which would translate to a savings of a significant amount of money over the term of your mortgage.

But a rate hold means nothing if you don’t meet the lender’s qualifications. By obtaining a preapproval and a rate hold, you can be confident you have access to mortgage financing and you’ll know how much you can spend before you head out shopping for a property.

It’s important to note, however, that there is a significant difference between being preapproved and prequalified. In order to obtain a preapproval, the lender fully underwrites the deal, whereas with a prequalification only the most basic details are considered. Remember that many banks will only issue a prequalification, while mortgage brokers will ensure you’re preapproved.

As always, if you have questions about rate holds or preapprovals, or other mortgage-related questions, I’m here to help!

In recognition of March as Fraud Prevention Month, Canada Mortgage and Housing Corporation (CMHC) has compiled several helpful tips to protect borrowers against becoming victims of mortgage fraud.

Misrepresentation of information Mortgage fraud occurs when someone deliberately misrepresents information in order to obtain mortgage financing that would not have been granted if the truth had been known. This can include:

• Misstating one’s position or inflating one’s income or length of service at their job
• Misstating employment status (ie, salaried/full-time versus contract, part-time, hourly, commission-based or self-employed)
• Misrepresenting the amount and/or source of the down payment
• Purchasing a rental property and misrepresenting it as owner-occupied
• Not disclosing existing mortgage and/or debt obligations
• Misrepresenting property details or omitting information in order to inflate the property value
• Adding co-borrowers who won’t be residing in the home and don’t intend to take responsibility for the mortgage

Another common form of fraud is when a con artist convinces someone with good credit to act as a “straw buyer.” A straw buyer is someone who agrees to put his or her name on a mortgage application on behalf of another person. In return for their participation, straw buyers may be offered cash or promised high returns when the property is sold. Often, straw buyers are deceived into believing that they’ll not be held responsible for the mortgage payments.

Consequences of misrepresentation Borrowers who misrepresent information and straw buyers who allow a property to be purchased in their name are committing mortgage fraud and will be responsible for any financial shortfall in the event of default. They may also be held criminally responsible for their misrepresentation.

Reporting fraud If you suspect that you or someone you know has been the victim of mortgage fraud, contact your local police department or The Canadian Anti-Fraud Centre: www.antifraudcentre-centreantifraude.ca; 1-888-495-8501; info@antifraudcentre.ca.

To find out more about mortgage fraud, visit the fraud prevention section of the Canadian Association of Accredited Mortgage Professionals (CAAMP) website:  http://mortgageconsumer.org/protect-yourself-from-real-estate-fraud.

• We are Canada’s largest and fastest-growing mortgage brokerage!
• We have more than 2,200 Mortgage Professionals from more than 350 locations across the country!
• Our Mortgage Professionals are Experts in their field and many are ranked among the best nationally.
• We work for you, not the lenders, so your best interests will always be our number one priority.
• We have more than 100 mortgage programs, making it easy to choose the best fit for your unique situation.
• We close loans in all 10 provinces and 3 territories.
• We can process your mortgage in as few as 7 days.
• We are the preferred mortgage lender for several of Canada’s top companies.
• Dominion Lending Centres’ Mortgage Professionals are available anytime, anywhere, evenings and weekends – and we’ll even come to you!

Often times, borrowers are fixated on their mortgage rate because it’s the one aspect of their home financing they know to ask about. But, it’s important to look beyond mere rates into the bigger picture surrounding what’s significant when it comes to your specific mortgage needs.

If we dollarize the difference between 2.99% and 3.04%, for instance, it works out to an additional $2.66 in your monthly payment per $100,000 of your mortgage. Over the course of a five-year term, this culminates into just $159.60 per $100,000.

While “no-frills” mortgage products typically offer a lower – or more discounted – interest rate (like the 2.99% used in the example above), when compared with many other available products, the lower rate is really their only perk.

The biggest problem with looking at rate alone is that you may end up paying thousands of dollars in early payout penalties if you opt for a five-year fixed-rate mortgage, for instance, and then decide to move before the five years is up.

No-frills mortgage products won’t let you take your mortgage with you if you purchase another property before your mortgage term is up – ie, portability is not an option with this product. Portability is an important option that could save you money over the long term if the home of your dreams is within your reach before your mortgage term is up and rates have risen, which they have a tendency to do over a five-year period.

This type of product is only plausible for those who have minimal plans to take advantage of benefits that will help pay off your mortgage faster – such as prepayment privileges including lump-sum payments.

Essentially, this product is only ideal for: first-time homebuyers who want fixed payments and have limited opportunities to make lump-sum payments during the first five years of their

mortgage; and property investors who need a low fixed rate and aren’t concerned with making lump-sum payments.

It’s understandable why these products may seem appealing. After all, not everyone feels they have the extra cash to put down a huge lump-sum payment. And who needs a portable mortgage if you’re not planning on moving any time soon?

But it’s important to remember that a lot can change over the course of five years – or whatever term you choose for your mortgage. You could get transferred, find a bigger house, have babies, change careers, etc. Five years is a long time to be anchored to something.

Many people won’t sign a cell phone contract for longer than three years that they can’t get out of, so why would they then sign a mortgage for five years that they can’t get out of?

The thing is, you can still obtain great mortgage savings without giving up the perks of traditional mortgages. For starters, many lenders are willing to offer significant discounts if you opt for a 30-day “quick close”.

And there are many other ways to earn your own discounts. For instance, by switching to weekly or bi-weekly mortgage payments, or by obtaining a variable-rate mortgage but increasing your payments to match those of the going five-year fixed rate, you’ll be ahead of the typical discount of a no-frills product before you know it – and you won’t have to give up on options.

Banks don’t give anything away for free – they’re there to make money. That’s why it’s essential to discuss the full details surrounding the small print behind the low rates. It’s also important to take into account your longer-term goals and ensure your mortgage meets your unique needs now and into the future.

As always, if you have questions about mortgage rates, or other mortgage-related questions, I’m here to help!

If you own an older home, chances are, you’re always on the lookout for ways to reduce your heating costs. Adding insulation to your home not only helps you save money right now, but it’s also a way to “future proof” your home – protecting you against energy cost increases down the road. A well-insulated, energy-efficient home reduces the need for heating in the cooler months and cooling in the warmer months.

By far the best time to upgrade your home’s insulation is when you’re doing other renovation work. For instance, it may not make much economic sense to remove the exterior cladding on your home simply to add more insulation, but if you’re replacing the cladding because it’s worn or you want to upgrade the curb appeal of your home, this is the perfect time to add insulation to the outside of the walls and seal up leaks.

Fortunately, there are many different options to achieve different levels of energy performance in typical older homes by adding insulation to the attic, walls and foundation, and reducing air leakage.

Increasing energy performance The first step should always be to make your house more airtight. Use caulking and spray insulating foam to close up gaps around windows and doorways, and under thresholds. Inspect and replace worn weather-stripping and seals on windows and doors. Add foam gaskets behind the faceplates of electrical outlets and switches on exterior walls. Seal around outside faucets and vent hoods.

Doing this reduces drafty spots, making your home more comfortable, reduces exterior noise and dust, and actually helps the insulation you have in your house work better.

Air sealing is also one of the least expensive and most cost-effective energy-saving retrofit measures you can complete. Without it, you won’t gain the full benefit of increasing the existing insulation in your home as air leakage can reduce the effectiveness of many types of insulation.

You can save up to 10% on the space heating costs for a typical older home by improving the air tightness of the home by 30% and adding an additional R20 worth of insulation in the

attic, R10 on the basement walls, or R10 in the above-grade walls. The cost can range from $7,500 to $15,000 or more, depending on the insulation you choose, how much you install, other renovation work you are having done and how energy-efficient your house is to begin with.

To reduce your space heating costs by 25%, you may need to improve the air tightness of the home by 30%, add another R20 in the attic, and R15 to the exterior and basement walls. This work can cost anywhere from $18,000 to $30,000 or more depending on the full extent of the actual work that needs to be done.

Alternatively, instead of adding insulation, you may be able to achieve the same 25% goal by installing new Energy Star-rated windows. The cost of new windows is in the order of $15,000 or more depending on the number of windows to be replaced and the features selected. Ensure any new windows are well-sealed into their wall openings as air leakage can undermine their insulating value.

It’s important to consider the effect of adding insulation and air sealing on the whole house. While improved air tightness goes hand-in-hand with reduced drafts and heat loss, it also reduces the amount of fresh air that can leak into your house, leading to moisture build-up and lingering odours if not balanced with energy efficient ventilation – a heat recovery ventilator, for example.

This is the reason that “build tight-ventilate right” has been the credo of energy efficient builders and renovators for more than 30 years.

Keep in mind that it’s always a good idea to get an energy audit of your house completed before you decide what to do and how much to invest. To formulate specific retrofit plans for your house, Canada Mortgage and Housing Corporation (CMHC) recommends that you retain the services of a qualified residential energy service provider to undertake an EnerGuide audit. Audits and ratings can be obtained from service organizations licensed under Natural Resources Canada’s EnerGuide program. For more information on finding a qualified service organization, visit http://oee.nrcan.gc.ca/residential.

CMHC has a wide range of helpful information for homeowners on sustainable technologies and practices and renovating for energy available from www.cmhc.ca or by calling 1-800-668-2642.

• We are Canada’s largest and fastest-growing mortgage brokerage!
• We have more than 2,200 Mortgage Professionals from more than 350 locations across the country!
• Our Mortgage Professionals are Experts in their field and many are ranked among the best nationally.
• We work for you, not the lenders, so your best interests will always be our number one priority.
• We have more than 100 mortgage programs, making it easy to choose the best fit for your unique situation.
• We close loans in all 10 provinces and 3 territories.
• We can process your mortgage in as few as 7 days.
• We are the preferred mortgage lender for several of Canada’s top companies.
• Dominion Lending Centres’ Mortgage Professionals are available anytime, anywhere, evenings and weekends – and we’ll even come to you!

Interviews this fall with more than 2,000 Canadians indicate that those holding mortgages are comfortable with their debt, a majority plan to pay off their mortgage in less than 25 years and at least one-third are taking advantage of current low interest rates to accelerate payments, according to the most recent survey report from the Canadian Association of Accredited Mortgage Professionals (CAAMP) released in late November entitled Annual State of the Residential Mortgage Market in Canada.

Following are some key statistics revealed in the report:

• Among all mortgage holders, 65% have fixed-rate mortgages, 28% have variable-rate mortgages and 7% have a combination. For mortgages in 2012, there has been a significant shift to fixed-rate mortgages – 79% are fixed, 10% are variable and 11% are a combination of both.
• 68% of mortgages obtained during 2012 have amortization periods of 25 years or less.
• 32% of mortgage holders are making significant efforts to accelerate repayments, including taking one or more of the following actions in the past year: 16% have voluntarily increased their monthly payments; 15% have made a lump-sum contribution to their mortgage; and 6% have increased their payment frequency.

• For mortgages that have been repaid since the 1990s, actual repayment periods have generally only taken two-thirds of the contracted periods.
• Among borrowers who took out a new mortgage in 2012, a record 47% obtained it from a mortgage broker.
• The average mortgage interest rate is 3.55%, which is lower than last year’s average of 3.92%.
• Among mortgage borrowers who have renewed a mortgage this year, 61% experienced a reduction in their interest rate.
• The average actual rate for five-year fixed-rate mortgages is 1.85 percentage points lower than typical (posted) rates in 2012.
• There has been a considerable amount of locking-in (converting from variable rate to fixed rate). Among the 3.85 million Canadian homeowners with fixed-rate mortgages, 13% locked in during the past 12 months.
• Of the 9.7 million homeowners in Canada, 5.95 million have mortgages and 3.75 million are mortgage-free.
• 87% of Canadian homeowners have 25% or more home equity. 

As always, if you have any questions about the information above or your mortgage in general, I’m here to help!

Once you’ve settled into your new home, you may start seeing things you’d like to change or repair. Maintenance, repair and renovations are a normal part of homeownership. One of the best things you can do is get to know your home.

Every adult member of your household should know the location of the following:

• Main shutoff valves for water, fuel and natural gas
• Emergency switch for the furnace or burner
• Hot water heater thermostat
• Main electrical switch
• Fuse box or circuit breaker box

Home Improvements Home improvements can make a home more pleasant to live in and may also increase its value.

Here are some things to keep in mind:

• Think about changes that would appeal to someone buying your home in the future
• Updating the bathrooms and kitchen in an older home can increase its resale value
• Updating the paint on the outside of your house, installing a new roof, redoing your walkways and driveway, adding attractive mailboxes and landscaping will improve your home’s appearance
• Some renovations can pay for themselves, especially if they result in savings on utility bills, a higher selling price or years of greater comfort and enjoyment in your home
• Think about improving your home’s energy efficiency for comfort and savings

Secure your new investment

• Change all the locks when you buy a new home
• Add dead-bolt locks and window locks where necessary
• Consider getting a security system
• Use outdoor lighting. You can get lights that automatically turn on every evening or motion-sensor lights that come on when someone walks by
• When you’re away from home, use lights and radios on automatic timers, and arrange to have your mail and newspapers picked up or stopped
• Get to know your neighbours and keep an eye out for each other

Be prepared and stay safe When you move into a new home, it’s always important to:

• Have a fire evacuation plan and make sure everyone in your home knows how to safely get out of the home from every room
• Ensure that fire extinguishers are easily accessible at all times (there should be one on each floor)
• Locate and test the smoke detectors in your home every six months
• Locate and test the carbon monoxide detectors. They’ll detect high levels of carbon monoxide in your home, and can save you from illness or death
• Make sure that any fire hazards, such as paper, paint, chemicals and other clutter are stored in a safe place
• Collect your important papers and store them in a safe place
• Keep a list of emergency numbers close to the phone and make sure your children are familiar with the list

For more information on home renovation, maintenance and safety, visit: www.cmhc.ca.

• We are Canada’s largest and fastest-growing mortgage brokerage!
• We have more than 2,200 Mortgage Professionals from more than 350 locations across the country!
• Our Mortgage Professionals are Experts in their field and many are ranked among the best nationally.
• We work for you, not the lenders, so your best interests will always be our number one priority.
• We have more than 100 mortgage programs, making it easy to choose the best fit for your unique situation.
• We close loans in all 10 provinces and 3 territories.
• We can process your mortgage in as few as 7 days.
• We are the preferred mortgage lender for several of Canada’s top companies.
• Dominion Lending Centres’ Mortgage Professionals are available anytime, anywhere, evenings and weekends – and we’ll even come to you!