News

30 Nov 2018

Why reverse mortgages are bucking the downward trend

Posted by: Rebecca Burgum

HomeEquity Bank - Director, Referred and Product Marketing

The reverse mortgage market in Canada has been increasing at a phenomenal rate over the last few years. In fact, for HomeEquity Bank, the provider of the CHIP Reverse Mortgage, growth was well over 40% in August, bringing Canada’s outstanding reverse mortgage balance to $3.03 billion. Compare this to the latest growth in lending for Read More

29 Nov 2018

Would a Co-Signer Enable You to Qualify for a Mortgage?

Posted by: Kelly Hudson

Dominion Lending Centres - Accredited Mortgage Professional

There seems to be some confusion about what it actually means to co-sign on a mortgage… and any time there is there is confusion about mortgages, it’s time to chat with your trusted Dominion Lending Centres mortgage professional! Let’s take a look at why you would want to have someone co-sign your mortgage and what Read More

28 Nov 2018

Variable Rate? To Lock In Or Not?

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

This post applies if you are taking a new mortgage, whether it’s for a purchase, refinance, or renewal. The variable remains the main contender. But what about all the economists saying if you are currently in a variable rate mortgage then you should rush to ‘lock in’? You mean the economists that are employed by Read More

27 Nov 2018

Leverage. Is it time to re-think your strategy?

Posted by: Allan Jensen

Dominion Lending Centres - Accredited Mortgage Professional

Leverage, defined by Investopedia as an investment strategy of using borrowed money — specifically, the use of various financial instruments or borrowed capital — to increase the potential return of an investment, is a core strategy of real estate investors. In my post entitled Real Estate Yield. Understanding Your Cash-on-Cash Return , I reminded readers Read More

23 Nov 2018

4 Reasons why Mortgage Brokers are Better than Banks

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

I am often asked if it’s hard to compete with the banks. While they may offer competitive rates at times, right now we have much better rates than the banks. However, we have certain advantages which allow us to blow them out of the water most of the time. More Choice – banks are limited Read More

22 Nov 2018

Congratulations on the Mortgage! Now Let’s Get Rid of It!

Posted by: Chris Cabel

Dominion Lending Centres - Accredited Mortgage Professional

So now that you’re a home owner, what are your next steps? Well first, you will have to figure out exactly how you are going to get RID of that mortgage. Yes, that’s right. Now that you got it, here are four ways you can pay it off and be done with it! 1. ACCELERATE Read More

21 Nov 2018

Looking for a mortgage… you better know your credit score

Posted by: Len Lane

Dominion Lending Centres - Accredited Mortgage Professional

Over the last month, as the big banks and many of our monolines mortgage lenders wind down their fiscal year, we are starting to see some very obvious changes in what your credit score can get you. I heard a few months ago that 720 beacons were going to become the new 650. The 650 Read More

20 Nov 2018

Mortgage Interest Rate Tiers

Posted by: Eitan Pinsky

Dominion Lending Centres - Accredited Mortgage Professional

Since we know that lenders can back-end insure our mortgages (please read our Mortgage Insurance Market and Wholesale Lenders article first), and that this specifically makes these mortgage investments more attractive to investors, what does it mean for borrowers (every day people like you and me)? To recap, any mortgage that is inexpensive for a Read More

16 Nov 2018

4 Facts About Using a Guarantor

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

A Guarantor, when it comes to mortgages, is exactly what it sounds like—they “Guarantee” the mortgage for another person if they are unable to pay back the loan. Guarantor’s or co-signers are often used if someone has: • Damaged or poor credit • Insufficient income In most cases, someone with poor credit and/or insufficient income Read More

15 Nov 2018

Canadian Home Sales Weakened In October

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 declined for the second consecutive month in October, edging back by 1.6% month-over-month (m/m) and down 3.7% from year-ago levels. Year-over-year sales in October are now about in line with their 10-year monthly average (see chart below). Existing home sales 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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