News

1 Dec 2017

Getting on the Property Ladder

Posted by: Kris Grasty

Dominion Lending Centres - Accredited Mortgage Professional

As property prices continue to rise across Canada, the conversation around “how to climb the property ladder” has made a subtle shift to “how to get on the property ladder in the first place.” Especially if you’re single. Whereas before it was assumed anyone would qualify to buy a starter home (or condo), nowadays with Read More

30 Nov 2017

Misconceptions of a CHIP Mortgage

Posted by: Pauline Tonkin

Dominion Lending Centres - Accredited Mortgage Professional

Many homeowners have beliefs about how a CHIP Mortgage works but are not clear on the main benefits and protection offered by the program. Top 3 Misconceptions About a CHIP Mortgages: 1. The Bank Owns Your Home. Over 50% of Canadian homeowners over the age of 65, believe the bank owns your home once you’ve Read More

29 Nov 2017

Mortgage Pre-approval is Not What You Expect

Posted by: Tracy Valko

Dominion Lending Centres - Accredited Mortgage Professional

Although going through the pre-approval process is more important than ever, the actual term ‘pre-approval’ is often misleading. It really addresses just a few variables that may arise once in the middle of an actual offer. The pressure in many markets has never been greater to write a condition-free offer, yet due to recent changes Read More

28 Nov 2017

Why They’re Not Really In The Mortgage Business

Posted by: Jonathan Barlow

Dominion Lending Centres - Accredited Mortgage Professional

Often, when we talk to you about mortgages, Mortgage Professionals will provide you a set of choices involving banks, credit unions and single service mortgage providers called a “Monoline” and a recommendation. Many times, if it’s a good fit, we recommend a Monoline, as your first option. It’s important to recognize the differences between the Read More

27 Nov 2017

But They Said It Was Portable…

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

The question most often asked: ‘Is my mortgage portable?’ The answer most often given: ‘Yes.’ This answer is increasingly wrong. In reality you qualify to move ~80% of the balance… maybe. If you are thinking of: Moving (upsizing or downsizing) Locking a variable-rate mortgage into a fixed-rate product … you would be well served to Read More

24 Nov 2017

Mortgages and Paperwork

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

Paperwork-it’s a fact of life. You need it and we as mortgage professionals also need it. Below is a list of must have documentation BEFORE you start going through the mortgage approval process. Personal Information This will be the basic information we require to start your mortgage process. It will include your age, marital status, Read More

23 Nov 2017

Additional Financing with a “Blend and Extend” Mortgage

Posted by: Allan Jensen

Dominion Lending Centres - Accredited Mortgage Professional

Prepayment Privileges You need additional financing. Do you prepay your existing loan? We remind readers that commercial mortgage borrowers do not enjoy the privileges afforded personal borrowers. Section 10 of the Interest Act, allowing borrowers to repay loans after 5 years, with a 3 month interest penalty, does not apply. In fact, for the most Read More

22 Nov 2017

Documents you need to qualify for a mortgage

Posted by: Kiki Berg

Dominion Lending Centres - Accredited Mortgage Professional

Being fully pre-approved means that the lender has agreed to have you as a client (you have a pre-approval certificate) and the lender has reviewed, approved ALL your income and down payment documents (as listed below) prior to you going house hunting. Many bankers will say you’re approved, you go out shopping and then they Read More

17 Nov 2017

Mortgage Payment Options… Which is the Best Option for Your Situation?

Posted by: Kelly Hudson

Dominion Lending Centres - Accredited Mortgage Professional

Once your mortgage has been funded by your lender, you need to decide on how frequently you want to make your mortgage payments. Most people want to pay off their mortgage as quick as possible to save paying interest. We’ll discuss various mortgage payment options and then do the math by crunching mortgage numbers, keeping Read More

16 Nov 2017

Mortgage Insurance 101

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

When you purchase a property, you may be a little overwhelmed by all the insurance offers related to the purchase of said property. Mortgage Insurance, Condo Insurance, Mortgage Default Insurance, Earthquake Insurance; the list goes on and on. It can be confusing, and it is important to know what insurance covers what. For instance, Mortgage 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.
    Learn More