Blog Posts

20 Oct 2017

New mortgage changes decoded

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

This week, OSFI (Office of the Superintendent of Financial Institutions) announced that effective January 1, 2018 the new Residential Mortgage Underwriting Practices and Procedures (Guidelines B-20) will be applied to all Federally Regulated Lenders. Note that this currently does not apply to Provincially Regulated Lenders (Credit Unions) but it is possible they will abide by Read More

19 Oct 2017

Self-Employed? Here’s What You Need to Know About Mortgages

Posted by: Kelly Hudson

Dominion Lending Centres - Accredited Mortgage Professional

Why, why, why it is so challenging for entrepreneurs to obtain a mortgage in Canada? If you’re among the 2.7 million Canadians who are self-employed, regrettably your income is not as easy to document as someone who’s traditionally employed. Since 2008, mortgage regulations in Canada have made it more challenging for those who work for Read More

18 Oct 2017

Canadian Housing Activity Stabilizes Well Below Peak Levels

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

According to the Canadian Real Estate Association (CREA), national home sales in September rose modestly from the previous month but remained below levels recorded one year ago. Resale activity was 12% below the record set in March, before the April announcement of a 15% foreign buyers’ tax and a sixteen-point program to enhance housing affordability Read More

18 Oct 2017

Credit rating and debt servicing a mortgage

Posted by: Kevin Bay

Dominion Lending Centres - Accredited Mortgage Professional

It is great feeling buying your first home, but for most of us the first step is preparing to get a mortgage. Your credit rating and cash flow are based on a minimum of a two-year history. As mortgage rules continue to change, the credit rating is becoming even more important as a higher credit Read More

17 Oct 2017

The Impact of Mortgage Rule Changes

Posted by: Kristin Woolard

Dominion Lending Centres - Accredited Mortgage Professional

The mortgage rule changes that were passed by the Ministry of Finance in October 2016 are still having their effect one year later. Higher qualification requirements and new bank capital requirements have split the industry into two segments – those who qualify for mortgage insurance and those who don’t. Mortgages that qualify for mortgage insurance Read More

13 Oct 2017

What is an interest rate differential (IRD)? How do you calculate it?

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

A mortgage in its simplest form is a contract. It has terms, conditions, rights and obligations for you and the lender. When you sign on the dotted line, you are agreeing to those terms for the length of time laid out in the contract. However, sometimes life throws us an unexpected event that brings around Read More

12 Oct 2017

What You Need to Know Before You Borrow Money for Your Small Business Startup

Posted by: Jennifer Okkerse

Dominion Lending Centres - Director of Operations, Leasing Division

Deciding to borrow money to launch your small business startup is a big decision. It’s the second biggest decision after deciding to start the business. Since it is a big decision, it requires much thought and research before taking the leap. There are multiple ways to fund a small business startup, and it’s important to Read More

11 Oct 2017

Lessons from the Ashes

Posted by: Jeremy Deutsch

Lead Writer

This story appeared in the Fall issue of Our House Magazine. The Fort McMurray fire and subsequent reconstruction demonstrates the necessity—but also the limitations—of home insurance in the face of natural disasters Tuesday, May 3, 2016, isn’t a day Lisa Reesik will soon forget. It started out beautifully, without a single cloud in the blue Read More

10 Oct 2017

Knowing When Less Is More

Posted by: Max Omar

Dominion Lending Centres - Accredited Mortgage Professional

No one wants to be told that they are not allowed to have something. We live in Canada; as Canadians, our focus has always been to strive for better and for more. That said, there appears to be a growing trend around co-sharing which means people are increasingly moving away from owning their own cars, Read More

6 Oct 2017

Wages Growth Accelerates as Canada Adds Jobs For the 10th Straight Month

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

While the headline net jobs gain was a disappointing 10,000–well below the average monthly increase in the past year–the underlying data in this morning’s StatsCanada release were quite robust. The jobless rate remained unchanged at 6.2 per cent as the acceleration in wage gains suggests that the economy is close to full employment. Average hourly 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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