News

22 Jun 2018

Is your Line of Credit Killing your Mortgage Application?

Posted by: Len Lane

Dominion Lending Centres - Accredited Mortgage Professional

Some of the last round of changes from the government regarding qualifying for a mortgage were that if you have a balance on your unsecured line of credit, then to qualify for mortgage the lenders require that we use a 3% payment of the balance of the line of credit. Simple math is,  if you Read More

21 Jun 2018

5 Tips on how to get out of debt and into your own home

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

To get out of debt, you need a plan and you need to execute that plan. That’s why I’ve created this simple, five-step, get-out-of-debt checklist that can help you leave that financial burden behind you. As you work on your plan, you’ll need to make all necessary adjustments to your budget along the way so Read More

20 Jun 2018

The Right Kind of Debt

Posted by: Ryan Oake

Dominion Lending Centres - Accredited Mortgage Professional

Put yourself in a bank or lender’s shoes. Someone comes into your branch and asks you to politely loan them $300,000. You are a big bank, but $300,000 is still a lot of money. How do you ensure this person is going to pay back the money you loan them, on time, and in the Read More

19 Jun 2018

18 Jun 2018

The Spring Housing Market Continues To Be Weak

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

As we said last month, April is usually the start of a spring housing market ramp-up, but this year the new mortgage stress test and rising mortgage rates have continued to be a negative factor. Those expecting an early-stage pick-up marking an end to the payback for sales pulled forward into the fourth quarter of Read More

18 Jun 2018

Debt Service Ability. A renewed lender focus

Posted by: Allan Jensen

Dominion Lending Centres - Accredited Mortgage Professional

Debt Service Ability. A renewed lender focus it seems.  As interest rates firm, valuations are impacted, and cap rates begin to firm. What about Debt Service Ability? It is becoming more apparent that property income, and more specifically net operating income available to service debt, has a significant and growing influence on the amount of Read More

14 Jun 2018

Don’t Forget the Closing Costs When You Purchase a Home

Posted by: Kelly Hudson

Dominion Lending Centres - Accredited Mortgage Professional

The purchase price you negotiate when buying or selling a home is just one part of the total cost for buying a home. In addition to the purchase price there are several other fees – known as closing costs – all of which you need to factor in to your purchase price. Closing costs tend Read More

12 Jun 2018

The 5 Mortgage Elements- Decisions You Need to Make Before You Sign!

Posted by: Ryan Oake

Dominion Lending Centres - Accredited Mortgage Professional

Before you buy a home there are a couple things you need to figure out first. One of the very first decisions you need to make is whether you want to work with a mortgage broker who is independent from the bank, or if you prefer, work with a financial representative from a specific bank. Read More

8 Jun 2018

Canada’s May Job Loss in Manufacturing and Construction

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Statistics Canada announced this morning that Canada’s employment was little changed in May, and the jobless rate remained at a low 5.8% for the fourth consecutive month. The headlines, however, highlighted the modest 7,500 job losses last month on the heels of a 1,100 job loss in April. The job declines are small in a Read More

7 Jun 2018

Gridiron star tackles the renovation world – Our House Magazine

Posted by: Jeremy Deutsch

Communications Advisor

The following is an excerpt from the July issue of Our House Magazine.  Chatting with Sebastian Clovis about home renovations, it’s impossible to miss his enthusiasm. He’s splitting a downtown Toronto single-family home into a duplex. It may not sound like the most stimulating project, but for Clovis this is his element. He quickly rattles 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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