Blog Posts

17 Jul 2015

Five Things To Know About the Bank of Canada Ratecut

Posted by: Angela Calla

Dominion Lending Centres - Accredited Mortgage Professional

1.  This is now the lowest prime rate we have seen since 2009.   There have been two prime rate reductions already this year. 2.  The banks don’t always respond and reduce their Bank Prime Rate.  They pocket the difference as a profit when they are borrowing money, so it’s common after a rate reduction for them to Read More

16 Jul 2015

Vancouver Real Estate – How I learned to stop worrying and Love the Bubble. Part 3

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

Critics of real estate ownership often cite the average detached Vancouver house price against household income, e.g., ‘Today the (Vancouver) median income is $71,660 and the average (Vancouver detached) house costs $997,800 — 14 times annual income’. There is an assumption being made that these metrics are co-dependent. This is a misleading correlation. It paints a picture Read More

14 Jul 2015

Renovation Financing

Posted by: Pam Pikkert

Dominion Lending Centres - Accredited Mortgage Professional

So you have found a great house.  The neighborhood is wonderful.  Mature trees, lower property taxes, schools within walking distance and easy access to a variety of amenities.  But the house is, how do I put it, retro at best.  You wonder how you will tolerate the bright pink carpets and the vast array of energy Read More

13 Jul 2015

Your Mortgage Penalty Was How Much??

Posted by: Daniel Lewczuk

Dominion Lending Centres - Accredited Mortgage Professional

Someone recently asked if I could describe the various penalties associated with breaking a mortgage prior to the maturity date. Generally speaking, lenders usually use a 3 month interest penalty, or an Interest Rate Differential penalty (IRD). The penalty for breaking a fixed rate mortgage is usually the greater of 3 months interest, or the Read More

10 Jul 2015

Navigating Mortgage Insurance

Posted by: Alim Charania

Dominion Lending Centres - Accredited Mortgage Professional

There are various types of insurance you may be required to purchase or greatly consider when establishing your first mortgage agreement. Here are the four main types you may encounter. 1. MORTGAGE DEFAULT INSURANCE Mortgage default insurance is usually for those who put down less than 20% of the purchase price on a new home.  Read More

9 Jul 2015

Vancouver Real Estate – How I learned to stop worrying and Love the Bubble. Part 2

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

Are Vancouver real estate values sustainable? Short Version Yes. Easily. Long Version No doubt that question may seem laughable to some. The thing is, depending upon one’s age, this questions has seemed laughable to many since the 80s, 90s, etc. Perhaps the question worth asking is not ‘what if insert negative thing here happens’, but Read More

8 Jul 2015

Are First Time Home Buyers a Risky Bunch?

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

  Not really. Actually not at all. According to the most recent Genworth survey, first time home buyers are “financially fit, well informed and eager to get into their first homes.”  Taking it a step further… “The survey shows that today’s first-time home buyers have their eyes wide open, their hands firmly on their pocketbook Read More

6 Jul 2015

New vs Old Condo Purchase

Posted by: Kris Grasty

Dominion Lending Centres - Accredited Mortgage Professional

Weighing the Pros and Cons of Buying a New vs Old Condo The desire to own something new is always there however in the Vancouver market (and all throughout Canada) there are often some great older homes and condos that are renovated with lots of character. The debate on purchasing New vs Old is often Read More

3 Jul 2015

Which repayment option should you choose?

Posted by: Michelle Gosal-Campbell

Dominion Lending Centres - Accredited Mortgage Professional

You’ve been approved for your mortgage and now you have yet another choice – how often do you want to make your mortgage payments? Your mortgage broker has advised you that your options are monthly, semi-monthly, bi-weekly and accelerated bi-weekly. We are all familiar with monthly payments but what do these other options mean? What’s Read More

2 Jul 2015

  • 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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