News

10 Dec 2015

Vendor Take-Back Mortgage

Posted by: Pauline Tonkin

Dominion Lending Centres - Accredited Mortgage Professional

Growing in popularity over the past few years, the vendor take-back mortgage can help buyers to purchase and sellers to find qualified buyers – especially in a tough market. What is a vendor take-back mortgage – or VTB? When a seller offers to lend the buyer a portion of money towards the down payment – Read More

9 Dec 2015

Obstacles for First Time Home Buyers

Posted by: Kristin Woolard

Dominion Lending Centres - Accredited Mortgage Professional

With mortgage interest rates at historical lows, it is a wonderful time for first time home buyers to take the leap into the market. But there are some considerations and preparations to be made before starting the process. A higher level of bank scrutiny has come into play now that the governance of CMHC has Read More

8 Dec 2015

BC & Ontario Poised For Canada’s Strongest Economic Growth In 2016

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Lower oil prices, alongside a continued slump in mining and metals, has weighted on growth. Oil-dependent provinces such as Alberta, Saskatchewan and Newfoundland and Labrador have seen their economies hardest hit. That includes a drop in housing activity. Meantime, the more diversified economies of Ontario and B.C. are picking up, and housing sales and prices Read More

7 Dec 2015

So, what is vermiculite?

Posted by: Gerry Puhan

Dominion Lending Centres - Accredited Mortgage Professional

Financing on home purchases can become more complicated when it comes to things like 60 amp electrical service, and aluminum wiring just to name a few! Another bad boy may be the vermiculite issue where vermiculite was used in the attics as insulation. Vermiculite is a silver-gold to gray-brown mineral that is flat and shiny in Read More

4 Dec 2015

Canada Falters As U.S. Jobs Growth Assures Fed Rate Hike

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Unfortunately, Statistics Canada had more bad news for us this morning–a weak November jobs report and a big decline in trade for October–both of which portend a marked slowdown in growth in the final quarter of this year. At the same time, the U.S. released a strong enough November employment report to assure that the Read More

4 Dec 2015

Government Should Not Tamper With Foreign Home Ownership In Canada

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

The Canada Mortgage and Housing Corporation (CMHC) yesterday released the results of its 2015 Survey of Foreign Ownership of Condos in Canada and the numbers were lower than previous surveys and anecdotal evidence have suggested. While this is the most comprehensive study to date, accurate numbers on foreign ownership are inherently illusive. Many foreign condo Read More

4 Dec 2015

Financial Balance is True Wealth

Posted by: Jacqueline Richards

Dominion Lending Centres - Accredited Mortgage Professional

Money does not make us happy—but constant worry about lack of financial security can make us miserable. Women often enter their 40’s (and beyond) with a murky financial picture. We have put a great deal of our energy, earning time, and cold cash into being there for our children, our spouses, our family, and even Read More

3 Dec 2015

A Broker’s Life – What You Think I Do and What I Really Do!

Posted by: Michael Hallett

Dominion Lending Centres - Accredited Mortgage Professional

The primary purpose for producing this piece was to try and demystify the job of a Mortgage Broker. By now everybody that has a mortgage has heard about Mortgage Brokers. Whether they have decided to use the services of one is a completely different topic altogether. Having said that, the market share of borrowers ‘using Read More

2 Dec 2015

Bank of Canada On Sidelines as Fed Rate Hike Looms

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

The Bank of Canada kept the key overnight interest rate unchanged at 0.5 percent as expected, as the Federal Reserve is poised to hike rates for the first time in nearly 10 years. The Bank’s decision did not, however, reflect complacency with the state of the Canadian economy, but rather a hand-off to the much Read More

2 Dec 2015

You’re Approved, NOW What? Top 10 Tips For a Smooth Closing

Posted by: Sandra Tisiot

Dominion Lending Centres - Accredited Mortgage Professional

While you may have a mortgage approval, your mortgage doesn’t actually fund until the day you close on your new home. During that period of time, keep the following tips in mind to ensure a smooth closing. 1. Be careful about taking on additional credit, i.e., new credit cards or “Don’t pay for one year” 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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