Overview
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.
Now, more than ever, financial institutions are regularly launching new products and programs, making it easier to get into that new home sooner. Today, interest-only loans, self-employment programs, rental purchase programs, vacation property programs, and a host of other innovative financing alternatives are dotting the home purchase landscape, making homeownership a reality for more people than ever.
Whether you are first-time buyer or an experienced buyer with excellent credit, Dominion Lending Centres has access to the very best products and rates available across Canada. Give us a call… we think you’ll be pleasantly surprised!
Now, more than ever, financial institutions are regularly launching new products and programs, making it easier to get into that new home sooner. Today, interest-only loans, self-employment programs, rental purchase programs, vacation property programs, and a host of other innovative financing alternatives are dotting the home purchase landscape, making homeownership a reality for more people than ever.
Whether you are first-time buyer or an experienced buyer with excellent credit, Dominion Lending Centres has access to the very best products and rates available across Canada. Give us a call… we think you’ll be pleasantly surprised!
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Our Lenders
Dominion Lending Centres mortgage and leasing professionals shop over 90 different banks, credit unions, and trust companies to meet your financing needs. We will search hundreds of lending products to find the best possible mortgage or leasing solution tailored to you.
FAQs
A fixed rate stays the same for your entire term, offering payment stability. A variable rate fluctuates with the lender's prime rate, which can lead to savings but carries more risk if rates rise.
The 'better' rate depends on your risk tolerance. If you prefer payment predictability, fixed is best. If you can handle payment fluctuations for potential interest savings, variable may be suitable.
Yes, most variable rate mortgages allow you to 'lock in' or convert to a fixed rate at any time during your term without penalty, depending on your lender's policy.
It depends on the lender. Some adjust payments immediately when the prime rate changes, while others keep the payment amount the same and adjust the principal/interest split until a trigger point is reached.
Fixed rate mortgages often have higher prepayment penalties (Interest Rate Differential) if broken early compared to variable rate mortgages, which typically have a 3-month interest penalty.
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