News

16 May 2019

Build a plan to move into your home

Posted by: Terry Kilakos

Dominion Lending Centres - Accredited Mortgage Professional

There’s nothing quite like stepping into your dream home for the very first time. You have achieved your goal of homeownership! However, the journey from home seeker to home buyer can be challenging – unless you have a well-defined plan and guidance from the right professionals. As a mortgage broker, here’s how I will help Read More

15 May 2019

April Home Sales Rise Nationally, But Not In Vancouver

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Statistics released Wednesday by the Canadian Real Estate Association (CREA) show that national home sales increased in April with most markets recording increases in both transactions and prices. The number of homes sold rose 3.6% compared with March, on a seasonally adjusted basis. The rebound in sales over the past two months still leaves activity Read More

15 May 2019

Do You Understand the B-20 Guidelines?

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

A new survey has emerged showing that out of 1,901 owners and would be homeowners, 43% (more than two out of five) Canadians are not confident in their knowledge of the mortgage stress tests—despite them being in place for more than a year now. We wanted to give you a brief set of notes regarding Read More

14 May 2019

Going Long, 5 year + Mortgages

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

Recently, Stephen Poloz, the governor of the Bank of Canada stated that he felt that lenders and by offshoot, mortgage brokers, were not being creative in promoting mortgages for periods of longer than 5 years. He feels that the longer the term the less risk there is and people will be able to qualify for Read More

10 May 2019

10 May 2019

Who pays your mortgage broker? Not you!

Posted by: Terry Kilakos

Dominion Lending Centres - Accredited Mortgage Professional

If you’re looking to get a mortgage and considering a mortgage broker, there’s a good chance you’re wondering about how much the service costs. Good news! Clients looking to get a standard residential mortgage pay no fees to the broker. On standard residential mortgages, it’s 100% free for the clients. We’re paid by the bank Read More

9 May 2019

Poloz Says Mortgage Market Should Offer More Options

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

In a speech early this week, Bank of Canada Governor Stephen Poloz said that it is time for some fresh ideas for Canada’s mortgage market. He suggested that changes could include encouraging longer than 5-year duration fixed-rate mortgage loans, the creation of a market for private mortgage-backed securities and the launch of shared-equity mortgages for Read More

9 May 2019

Sole Proprietors

Posted by: Ryan Oake

Dominion Lending Centres - Accredited Mortgage Professional

Sole proprietors are individuals who run their own business and do not have it set up as a corporation or partnership. The biggest difference between them and a corporation is that a sole proprietor does not have separation between their business and themselves. This means that when taxes are filed, all costs that are essential Read More

8 May 2019

5 Things NOT to do before closing on your new home

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

1. Change your job.  You were qualified for your mortgage financing based on your income, years at the job and the understanding that you were there for a while. Changing jobs should be put off until after possession day. 2 – Changing your name. Make sure that your identification and your name match. Do not Read More

7 May 2019

CMHC changes will harm, not help, the real estate market

Posted by: Terry Kilakos

Dominion Lending Centres - Accredited Mortgage Professional

A new program the federal government has announced to subsidize first-time homebuyers isn’t likely to help the market but more likely to harm it. And not only is it not going to help out the market, but it’s not going to help out new homeowners. In its recently announced budget, the government is essentially putting 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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