I have been working in lending for the past 2 years. Here are common mistakes people make. Not checking their credit score for errors Credit scores can have mistakes such as incorrect credit card balances, open lending products, and even the wrong date of birth. Check your credit score every year to make sure there […]

Using Home Equity to your Advantage Canadians have been borrowing against their home’s equity in record numbers, taking out billions of dollars in cash each year. There has been a large movement to refinance home loans and pull out equity for things like: Home improvements Investments College expenses High-interest debt consolidation Many people used to […]

The holidays are a season of giving and oftentimes, households find themselves carrying some extra debt as we enter the New Year. Who Should Consolidate Debt If you happen to be someone currently struggling with some post-holiday debt, that’s okay! Whether you’ve accumulated multiple points of debt from credit cards or are dealing with other […]

While a bank only offers the products from their particular institution, mortgage brokers send business to Canada’s largest banks, credit unions, and other financial institutions. This offers their clients more choice, and access to hundreds of mortgage products! Clients benefit from the trust, confidence, and security of knowing they are getting the best mortgage for […]

By understanding mortgage terms, you can save the most money and choose the term that is right for you. There are many factors, which you will also have to take into consideration when you select your mortgage term length. If paying your mortgage places you close to the edge of your comfort zone, you may […]

Buying a home is one of the largest purchases you will make in your lifetime. At Dominion Lending Centres we believe it is an investment in your and your family’s financial future… an investment that needs to be protected. 45% of uninsured Canadians included life insurance among their top five financial priorities and 21% ranked […]

Mortgages in Canada are generally amortized between 25 and 35 year terms. While this seems a long time, it does not have to take anyone that long to pay off their mortgage if they choose to do so in a shorter period of time.  With some thinking ahead and a small bit of sacrifice, […]

YOU CAN SOMETIMES EXPECT A FINANCIAL REWARD FOR GOING WITH THE VARIABLE RATE. THE PRECISE MAGNITUDE WILL EBB AND FLOW DEPENDING ON THE ECONOMIC ENVIRONMENT. Fixed Rate Fixed rate mortgages often appeal to clients who want: -Stability in their payments -Manage a tight monthly budget -Financially conservative For example, couples with large mortgages relative to […]

By omitting proper consideration at the time of renewal, Canadian citizens lose thousands of extra dollars every year. Nearly 60% of borrowers simply sign and send back their renewal that is first offered to them by their lender. Shopping for a more favorable rate, may save thousands of dollars throughout the mortgage term. Homeowners should […]

Your credit rating affects all aspects of your financial activities when it comes to borrowing money. Your credit rating also has the ability to affect the job you get, the apartment you rent, and even the ability to open a bank account. What Is A Credit Report? A credit report is simply a listing of […]