News

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

15 Nov 2018

Pre-Approved for Your Mortgage… What Does that Really Mean?

Posted by: Kelly Hudson

Dominion Lending Centres - Accredited Mortgage Professional

There is a myth out there that once you’re pre-approved for a mortgage, you’re good to go out and buy a home… with a no subject offer… DON’T do it! A pre-approval means that based on being able to PROVE (through documentation) your CURRENT income, expenses, down payment and credit bureau you SHOULD be able Read More

14 Nov 2018

Growing cannabis at home? Let’s weed through those mortgage issues!

Posted by: Chris Cabel

Dominion Lending Centres - Accredited Mortgage Professional

As many of you already know, Canada just became the second country in the world to legalize marijuana for medical and recreational purposes. Of course, this historic moment in Canadian history has cannabis activists jumping for joy while others are not s-toked on the idea. With legalization comes the realities of growing your own pot Read More

9 Nov 2018

Why I Remember

Posted by: Jeremy Deutsch

Communications Advisor

As a community newspaper reporter for a decade around B.C., I covered a lot of stories. I probably wrote thousands of pieces during my career. And the range was as wide as you’d expect in cities with thousands of people. They could be interesting, fun, and in some cases, heart wrenching. You get it all Read More

8 Nov 2018

How to Get a FREE Copy of Your Credit Bureau

Posted by: Kelly Hudson

Dominion Lending Centres - Accredited Mortgage Professional

Think of your credit score as a report card on how you’ve handled your finances in the past. A credit score is a number that lenders use to determine the risk of lending money to a given borrower. There is always someone willing to lend you money however, higher risk = higher rates! Step 1 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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