News

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

3 May 2019

Corporations and Mortgages

Posted by: Ryan Oake

Dominion Lending Centres - Accredited Mortgage Professional

For self employed clients, incorporation is a popular business structure we tend to encounter. Having a corporate structure to your business allows for effective separation between the individual and the business. If you own your business and have it set up as a corporation, that corporation is essentially its own person. They have their own Read More

2 May 2019

What’s your best rate?

Posted by: Len Lane

Dominion Lending Centres - Accredited Mortgage Professional

You know at one time I could give you a quote over the phone and not worry that I would be too far out. Today is a totally different story, here are some of the variables that come into play. 1. What’s your credit score? A 700 FICO score is the new 650 for many Read More

1 May 2019

How to Pick the Best Mortgage for YOUR Situation!

Posted by: Kelly Hudson

Dominion Lending Centres - Accredited Mortgage Professional

Most Canadians are conditioned to think that the lowest interest rate means the best mortgage product. Although sometimes that is true, a mortgage is much more than just an interest rate. You can save yourself a lot of money if you pay attention to the fine print for the total cost of your mortgage. In Read More

30 Apr 2019

Accessing Your Home’s Equity To Invest

Posted by: Geoff Lee

Dominion Lending Centres - Accredited Mortgage Professional

To tap into your home’s equity, it all starts with refinancing your home. If you own a home, the equity you have built up in it is one of the most valuable assets you have available to you. It is also much more accessible than taking out a large loan. In many cases, home equity Read More

26 Apr 2019

How to improve your credit score

Posted by: Terry Kilakos

Dominion Lending Centres - Accredited Mortgage Professional

When applying for any sort of loan, one of the most important metrics a lender is going to look at is your credit score. But what really is a credit score, who keeps track of it, and most importantly, how can you improve yours? There are a few simple ways to keep your credit score Read More

25 Apr 2019

The Family Plan Program Explained

Posted by: David Cooke

Dominion Lending Centres - Accredited Mortgage Professional

Genworth Canada, one of the three mortgage default insurers in Canada, offers a program called Family Plan. It provides you with a solution which only requires a 5% down payment to take advantage of its unique solutions to family problems. In the past, I have used this with clients who want to purchase a home Read More

24 Apr 2019

Bank of Canada Reduces Prospects of a Rate Hike

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

A greater-than-expected slowdown in global economic activity has triggered a slowdown in the pace of interest rate normalization by many central banks. In response to these central bank policy changes and perceived progress in U.S.-China trade talks, global financial conditions and stock market sentiment have improved, pushing up oil and other commodity prices. Oil prices 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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