News

11 Dec 2019

How to Verify Your Down Payment When Buying a Home

Posted by: Kelly Hudson

Dominion Lending Centres - Accredited Mortgage Professional

Saving for a down payment is one of the biggest challenges facing people wanting to buy their first home. To fulfill the conditions of your mortgage approval, it’s all about what you can prove (hard to believe – but some people have lied in the past – horrors!). Documentation of down payment is required by Read More

6 Dec 2019

Huge Decline in Jobs in November As Jobless Rate Surges

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

One month does not a trend make. Statistics Canada announced this morning that the country lost 71,200 jobs in November, the worst performance in a decade. What’s more, the details of the jobs report are no better than the headline. Full-time employment was down 38.4k, and the private sector shed 50.2k. The jobless rate also Read More

4 Dec 2019

Bank of Canada Holds Steady Amid Continued Trade Uncertainty

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

The Bank of Canada maintained its target for the overnight rate at 1.75% for the ninth consecutive policy announcement, keeping the key interest rate stable for all of 2019. Today’s decision was widely expected as members of the Governing Council have signalled that the Bank is satisfied with the performance of the Canadian economy. The Read More

27 Nov 2019

5 Mistakes First Time Home Buyers Make

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

Buying a home might just be the biggest purchase of your life—it’s important to do your homework before jumping in! We have outlined the 5 mistakes First Time Home Buyers commonly make, and how you can avoid them and look like a Home Buying Champ. 1. Shopping Outside Your Budget It’s always an excellent idea Read More

15 Nov 2019

October Data Confirm That Housing Is in Full Rebound

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales rose for the eighth consecutive month. Activity held steady in October at the relatively robust September pace following a string of monthly increases that began in March. Existing home sales are now almost 20% above the six-year low reached in Read More

14 Nov 2019

Payment Frequency

Posted by: Ryan Oake

Dominion Lending Centres - Accredited Mortgage Professional

One of the decisions you will need to make before your new mortgage is set up, is what kind of payment frequency you would like to have. For many, sticking to a monthly payment is the default, however, different frequencies may end up saving you less interest over time. Monthly Payments Monthly payments are exactly Read More

12 Nov 2019

Principal & Interest

Posted by: Ryan Oake

Dominion Lending Centres - Accredited Mortgage Professional

Principal and interest are the two components that make up a mortgage payment. Principal is the portion of your payment that goes towards paying down the outstanding balance of your mortgage. Interest is the other portion of your payment which goes directly into the pockets of your lender and does not contribute to paying down Read More

8 Nov 2019

Disappointing Decline in Jobs in October, But Wage Growth Surges

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

One month does not a trend make. Statistics Canada announced this morning that the country lost 1,800 jobs in October following two months of blockbuster employment gains. October marks the first month of job losses since July, but as the chart below shows, the employment data are notoriously volatile. The Canadian dollar sold off on Read More

7 Nov 2019

5 Reasons You May want to consider a Rent to Own property

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

With the real estate market continuing to hold steady, many young families are looking for other options to afford a home. Many millennial families still are holding onto the dream of owning a detached home or their own townhouse/condo one day…but the task of moving on from a rental can seem daunting and impossible. This Read More

5 Nov 2019

Mortgages for Expensive Homes – Not as Easy as it Sounds

Posted by: Kelly Hudson

Dominion Lending Centres - Accredited Mortgage Professional

Large home purchases that require a mortgage present unique challenges in the Canadian Mortgage market. Sliding scales, director approval, multiple reviews, it all adds up to difficultly getting larger mortgages approved, unless you’re working with an experienced mortgage broker. In 2012 the government of Canada removed the mortgage insurers ability to approve mortgages of $1 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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