Blog Posts

22 Feb 2018

Foreclosure Not Automatic on Default

Posted by: Allan Jensen

Dominion Lending Centres - Accredited Mortgage Professional

According to a recent case tried in the Court of Appeal for Ontario, Winters v Hunking, 2017 ONCA 909 as summarized by Scott McGrath of WeirFoulds LLP, Foreclosure is not automatic on default. In an interesting article posted December 8, 2017 in Mondaq, Scott McGrath reminds us that the Court may have acknowledged the Lender Read More

21 Feb 2018

RRSP – Use home buyers’ plan (HBP) more than once

Posted by: Gurcharan Singh

Dominion Lending Centres - Accredited Mortgage Professional

Under the home buyers’ plan, a participant and his or her spouse or common- law partner is allowed to withdraw up to $25,000 from his or her RRSP to buy a home. Before 1999, only the first- time home buyers are permitted to buy a home under this plan. Now a person can take an Read More

16 Feb 2018

Pre-Sales- Safe of New Rules?

Posted by: Ryan Oake

Dominion Lending Centres - Accredited Mortgage Professional

The best part about pre-sales, especially for first time home buyers, is it allows you to reserve a unit for the cost of a deposit and have a significant amount of time to get everything in order. You can save money while renting or living at home, arrange a mortgage that best suits your needs, Read More

15 Feb 2018

Canadian Home Sales Slide In January Led By Greater Golden Horseshoe

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

It is no surprise that housing activity slowed in January following a pulling-forward sales surge as homebuyers hurried to purchase before the mortgage rule changes in 2018. The January 1 implementation of the new OSFI B-20 regulations requires that uninsured mortgage borrowers be stress-tested at a mortgage rate 200 basis points above the contract rate Read More

15 Feb 2018

Improving your credit score

Posted by: Tracy Valko

Dominion Lending Centres - Accredited Mortgage Professional

Your credit score is a big factor when you apply for a mortgage. It can dictate how good your interest rate will be and the type of mortgage you qualify for. Mortgage Professionals are experienced helping clients with a wide range of credit scores so we can find you a mortgage product even if your Read More

14 Feb 2018

The role of the insurer in a mortgage

Posted by: Asif Qureshi

Dominion Lending Centres - Accredited Mortgage Professional

Any time a down payment for the mortgage is less than 20%, it is required that the mortgage must be insured thru an Insurer. Why does this mortgage need to be insured, who provides this type of insurance, what does this insurance mean, who is the beneficiary, how much does this insurance cost? All these Read More

13 Feb 2018

What’s an acceptable down payment for a house?

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

Ask people this question and you will get a variety of answers.  Most home owners will say 10% is what you should put down. However, if you speak with your grandparents, they are likely to suggest that 20% is what you need for a down payment. The truth is 5% is the minimum down payment Read More

9 Feb 2018

Jobs Decline In January Following Blockbuster Year

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Canada shed 88,000 jobs in January, the most significant drop in nine years, driven by a record 137,000 plunge in part-time work. Full-time employment was up 49,000 while the unemployment rate increased a tick to 5.9%–only slightly above the lowest jobless rate since 1976. January’s sharp decline brings to an end a stunning 17-month streak Read More

8 Feb 2018

The Taste of Home – Our House Magazine

Posted by: Jeremy Deutsch

Lead Writer

Restaurateur and TV personality Vikram Vij on the joy of cooking—slowly—at home The culinary landscape in North America is amply populated with chefs and personalities putting their spin on a style of cooking designed to get your attention. With the explosion of the foodie culture in recent years, cutting through the clutter would seem a Read More

7 Feb 2018

6 Home Purchase Closing Costs

Posted by: Eitan Pinsky

Dominion Lending Centres - Accredited Mortgage Professional

When you purchase your home, there are 6 additional costs to account for. They include: Home Fire and Flood Insurance Title Insurance Legal Fees Adjustments Land Transfer Tax GST Here’s an overview of what you can expect. Home and Fire Insurance. Mortgage lenders will require a certificate of fire insurance to be in place by 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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    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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