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2016 changeofspaceWith the recent changes to the mortgage rules in Canada, we take a moment to look back at the evolution of the mortgage, and to highlight these new changes and what they mean.

LOOKING BACK

BEFORE 2008

During this time, lending and mortgages were much more laid back! There was 100% financing available, 40 year amortizations, cash back mortgages 95% refinancing, 5% down payment required for rental properties, and qualifications for FIXED terms under 5 years and VARIABLE mortgages at discounted contract rate. There was also NO LIMIT for your GROSS DEBT SERVICING (GDS) if your credit was strong enough. Relaxed lending guidelines when debt servicing secured and unsecured lines of credits and heating costs for non subject and subject properties.

2016 changeofspaceDominion Lending Centres breaks down the new changes to the mortgage space, answering your most asked questions — What, Who and Why? — And how WE can help!

Why is the Department of Finance implementing these new changes?

These new regulations are aimed at protecting the financial security of Canadians and supporting the long term stability of the housing market in Canada.

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Download our PDF and read more about the changes.

 


 

ProfessionalsCanada.jpg.size.xxlarge.letterboxNavigating the real estate and mortgage processes with the help of an expert mortgage broker can help set your mind at ease when making one of the largest financial decisions of your life.

Mortgage brokers negotiate with lenders on behalf of borrowers daily, so they know the ins and outs of what’s really important when arranging the best mortgage product and rate based on the unique immediate and longer-term needs of each borrower.

Brokers have access to multiple lenders’ products — including offerings available through banks, credit unions and trust companies, as well as alternate and private lenders. This means more choice for you — and better access to a product and rate that will meet your specific mortgage requirements.

Mortgage & Financing Services

The Benefits of Consulting a Mortgage Broker

Navigating the real estate and mortgage processes with the help of an expert mortgage broker can help set your mind at ease when making one of the largest financial decisions of your life.

Mortgage brokers negotiate with lenders on behalf of borrowers daily, so they know the ins and outs of what’s really important when arranging the best mortgage product and rate based on the unique immediate and longer-term needs of each borrower.

Brokers have access to multiple lenders’ products — including offerings available through banks, credit unions and trust companies, as well as alternate and private lenders. This means more choice for you — and better access to a product and rate that will meet your specific mortgage requirements.

Read more ...

What Client Says About Us?

I recently transferred my mortgage and worked with Gemma of the Laurin Team to complete the transaction, definitely the smoothest transaction I ever experienced. Everything was seamless, communication was prompt and I didn't even have to leave my home it done. I don't hesitate to recommend their service anytime I have the opportunity. They were also able to get me a very competitive rate which is saving me years on my mortgage. Street Capital has a great website which helps me manage my mortgage easily.

Thank you for the great service, something that is rare these days.

-Carole G.

 

 

OurMortgage Rates

Terms Our Rates
Variable Rate 2.20%
6 Months 3.10%
1 Year 2.29%
2 Year 2.14%
3 Year 2.34%
4 Year 2.44%
5 Year 2.44%
7 Year 3.09%
10 Year 3.69%

Some conditions may apply. Rates may vary from Province to Province. Rates subject to change without notice. *O.A.C. E.& O.E.
Rates published as of December 6, 2016

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