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.
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.
Click below to see the Step-By-Step Home Buying Process Chart
Benefits of Using a Mortgage Professional
There are generally two ways to get a mortgage in Canada: From a bank or from a licensed mortgage professional.
While a bank only offers the products from their own institution, Licensed Mortgage Brokers send millions of dollars in Mortgage Business each year to Canada’s biggest Banks, Trust Companies, Credit Unions, and Financial Institutions. We have the ability to offer our clients more choices and access to hundreds of Mortgage Products!
Therefore, our Clients benefit from the trust, confidence and security of knowing they are getting the most beneficial Mortgage Product.
Whether you’re Refinancing your home, purchasing your first home, taking out equity from your home for investment or pleasure, or simply Renewing your Mortgage, you need to know that you are making the most educated buying decision with professional , unbiased advice.
How Much Does It Cost?
Mortgage professionals work for you, and not the banks; therefore, they work in your best interest.
From the first consultation to the signing of your mortgage, their services are FREE.
A fee is charged only for the most challenging credit solutions, and it's especially under those circumstances that a mortgage professional can do for you what your bank cannot.
If you are looking for a new home, be sure you are pre-approved. With a mortgage pre-approval, a licensed mortgage professional can do a more complete verification prior to sending you shopping for a home, and with that done, the dollar figure you are going shopping with is actually what you can spend.
The mortgage professional that you work with to get pre-approved will let you know for certain what you can afford based on lender and insurer criteria, and what your payments on a specific mortgage will be.
Dominion Lending Centres mortgage professionals can lock-in an interest rate for you for anywhere from 60 – 120 days while you shop for your perfect home. By locking in an interest rate, you are guaranteed to get a mortgage for at least that rate or better. If interest rates drop, your locked-in rate will drop as well. However, if the interest rates go up, your locked-in interest rate will not, ensuring you get the best rate throughout the mortgage pre-approval process.
In order to get pre-approved for a mortgage, a mortgage professional requires a short list of information that will allow them to determine your buying power. A mortgage professional will explain to you the benefits of shorter or longer mortgage terms, the latest programs available, which mortgage products they believe will most likely meet your needs the best, plus they will review all of the other costs involved with purchasing a home.
Getting pre-approved for a mortgage is something every potential home buyer should do before going shopping for a new home. A pre-approval will give you the confidence of knowing that financing is available, and it can put you in a very positive negotiation position against other home buyers who aren’t pre-approved.