Blog Posts

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

1 Jul 2015

Breaking Up Is Hard to Do

Posted by: Pam Pikkert

Dominion Lending Centres - Accredited Mortgage Professional

So the reality of the world is that a large number of marriages end up in divorce. This is a hard enough time in anyone’s life so the lenders and the mortgage insurers have come up with a product that can help. It is the ability to refinance your matrimonial home up to 95% of Read More

22 Jun 2015

Test Driving a New Mortgage Payment

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

In both rising markets and softer markets there will always be people contemplating a move to a larger home, often with a larger mortgage to accommodate. How many of us takes steps in advance to prepare for a payment increase? From what I have seen, very few of us. (myself included) We test-drive cars before 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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