News

14 Oct 2015

Do You Have a Chocolate Covered Mortgage?

Posted by: Pam Pikkert

Dominion Lending Centres - Accredited Mortgage Professional

I have something shocking to tell you. Ready? Canadian banks are a business like any other. Gasp and shock! This is nothing less than the truth. They are mandated to produce profits and provide their shareholders with a dividend at the end of the year. This is accomplished by charging us service fees and interest Read More

13 Oct 2015

Repaying Your Mortgage

Posted by: Len Anderson

Dominion Lending Centres - Accredited Mortgage Professional

Let’s face it, getting a mortgage is hard, but repaying a mortgage is harder. What is the best way to go about repaying? You say, as quickly as I can and with the least amount of interest! Good answer! Statistics tell us most folks repay their mortgage in less than 20 years. Okay how do Read More

9 Oct 2015

September Jobs Numbers Don’t Help Harper

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

The last employment report before the October 19 federal election has to be disappointing for the Harper campaign. The unemployment rate edged up to 7.1 percent–slightly higher than the 7.0 percent posting in August–and employment grew a mere 12,000, in line with modest expectations. At least job seekers must be a bit more optimistic as Read More

9 Oct 2015

A 235 Year Amortization!

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

There seems much angst and concern from Government regulators over a first time buyer with less than 20% down taking longer than 25 years to pay off an appreciating (or at least historically stable) asset. Also an occasional cry for ‘higher rates’ from the odd pundit as a way to bring debt levels down. While Read More

8 Oct 2015

7 Oct 2015

Caution: Mortgage Penalties and Early Exit

Posted by: Len Anderson

Dominion Lending Centres - Accredited Mortgage Professional

Okay so you have a mortgage. Let’s face it, it’s a contract with terms, conditions, rights and obligations for both you and the lender. However, now for whatever reason you need or want to break the contract before the end of the term. Many mortgage lenders will allow this provided they are compensated. You have Read More

6 Oct 2015

The Difference between a Rate-Hold and a Pre-Approved Mortgage Certificate

Posted by: Sandra Tisiot

Dominion Lending Centres - Accredited Mortgage Professional

First, let’s start with a definition of each. Mortgage Terminology Rate-Hold: a rate-hold is simply that. The financial institution holds a rate for a specific term and for a certain number of days. In Canada we typically hold rates for 120 days. You must close your mortgage on or before that date to secure the Read More

5 Oct 2015

2 Oct 2015

It’s NOT All About the Rate

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

ob-sess(ed): the act of being preoccupied or fill the mind continually, intrusively and to a troubling extend. As mortgage consumers, we get obsessed with obtaining the best rate – we are caught in the cross-hairs of lender marketing. Lenders spend millions of dollars annually to pitch their message; some listen and some don’t. As consumers, we Read More

1 Oct 2015

The Ideal Mortgage Qualifying Client

Posted by: Jean-Guy Turcotte

There are a million variables that determine how one can qualify for a mortgage. The banks, mortgage lenders and credit unions all have different guidelines to be able to qualify under their programs, and then we have the mortgage insurers and multiple other regulatory bodies that affect decisions as well. Variables such as: income type 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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