Author: Pauline Tonkin

12 Jun 2019

Who Really Sets Interest Rates?

Posted by: Pauline Tonkin

Dominion Lending Centres - Accredited Mortgage Professional

A recent article in the Huffington Post addressed the pricing strategy for the Big Six Banks, BMO, CIBC, National Bank, RBC, Scotia and TD and who really sets interest rates.  RBC announcing a rate drop in January and the other banks soon followed.  For consumers the banks are seen as leaders of the pack and Read More

22 May 2019

Making the Most of Your Variable Mortgage

Posted by: Pauline Tonkin

Dominion Lending Centres - Accredited Mortgage Professional

Working with your DLC mortgage professional can save you thousands of dollars by making the most of your variable rate mortgage in a shifting market. In the past year we have seen an increase in the prime lending rate by 1%. For those home owners with variable rate mortgages who secured a low discount, savings Read More

12 Oct 2018

The Downsizing Dilemma

Posted by: Pauline Tonkin

Dominion Lending Centres - Accredited Mortgage Professional

With almost 50% of homeowners ready to retire and wishing to stay in their home and 30% of those people with most of their money tied up in home equity, the downsizing dilemma is real. Can they afford to stay in their home or is downsizing the better option. In the past, retired couples or Read More

9 Oct 2018

Cash Back and Decorating Allowances on New Build or Pre-sale Purchases

Posted by: Pauline Tonkin

Dominion Lending Centres - Accredited Mortgage Professional

As the market shifts, developers will increase their incentives to buyers with cash back and decorating allowances on new build or pre-sale purchases. It is very important to review those options with your real estate agent representative and vital to consult with your Dominion Lending Centres mortgage broker. Although these offers may seem attractive, they Read More

9 Jul 2018

It’s all about the property

Posted by: Pauline Tonkin

Dominion Lending Centres - Accredited Mortgage Professional

With all of the rule changes imposed by the federal and provincial governments around mortgage financing and real estate it may be more difficult to access financing. But don’t take it personally – sometimes it’s not you it’s the property. When lenders underwrite your application for approval they look at you as a borrower but Read More

9 Mar 2018

What you need to know before you renew your mortgage

Posted by: Pauline Tonkin

Dominion Lending Centres - Accredited Mortgage Professional

What you need to know before you renew your mortgage could save you thousands of dollars. Is your mortgage on your home or other properties maturing in 2018? Typically you will receive your mortgage renewal notice from your current lender 3-4 months in advance of the renewal date. Sometimes you may receive an offer for Read More

2 Mar 2018

Tips for your variable rate mortgage that could save you thousands

Posted by: Pauline Tonkin

Dominion Lending Centres - Accredited Mortgage Professional

With changes to mortgage rules and interest rates on the rise here are some tips for your variable rate mortgage that could save you thousands. Since 2009 the prime lending rate has shifted from a high of 6% down to 2% range remaining fairly level for the past few years before rising to a present Read More

30 Nov 2017

Misconceptions of a CHIP Mortgage

Posted by: Pauline Tonkin

Dominion Lending Centres - Accredited Mortgage Professional

Many homeowners have beliefs about how a CHIP Mortgage works but are not clear on the main benefits and protection offered by the program. Top 3 Misconceptions About a CHIP Mortgages: 1. The Bank Owns Your Home. Over 50% of Canadian homeowners over the age of 65, believe the bank owns your home once you’ve Read More

9 Jun 2017

Go long or short with your rate

Posted by: Pauline Tonkin

Dominion Lending Centres - Accredited Mortgage Professional

With all the news about interest rates rising do you go long or short with your rate when you set up your mortgage? After discussing your current life situation and answering some key questions with your Dominion Lending Centres mortgage broker you can make some decisions and set your mortgage rate and term to best Read More

10 Apr 2017

How Compound Interest Can Work For You

Posted by: Pauline Tonkin

Dominion Lending Centres - Accredited Mortgage Professional

I remember the first time I learned about how compound interest can work for you. I was introduced by a friend to someone in the financial services industry and he explained a simple technique to easily calculate how compound interest can work for you – the Rule of 72. I was so excited and started Read More

  • Residential Mortgages

    The purchase of a home is the largest purchase most people make during their lifetime. At Dominion Lending Centres, we want to make each and every purchaser aware of the many mortgage options available to them prior to their purchase and closing date.
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  • Commercial Mortgages

    Dominion Lending Centres Commercial has established excellent relationships in the lending community with pension funds, banks, credit unions, life insurance companies, trust companies, private institutions and individual investors.
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