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Purview, by Teranet, delivers a national automated property valuation and fraud detection solution, designed for Canadian financial institutions, mortgage lenders, brokers and insurers that allow customers to mitigate fraud and make better mortgage underwriting and insurance decisions.

With unique access to millions of property title records, and integration with dynamic aerial and street-level Google Maps™, Purview provides property analysis consisting of ownership, property value, sales history, neighbourhood sales, equity estimates and unique tools that assess risk by detecting potential fraud patterns. 

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

MortgageRates

Terms CMHC Conventional
Variable Rate Prime -0.95% Prime -0.70%
6 Months 3.14% 4.55%
1 Year 2.44% 2.94%
2 Year 2.14% 2.29%
3 Year 2.35% 2.59%
4 Year 2.64% 2.69%
5 Year
(120 days)
2.49% 2.79%
5 Year
(90 days)
2.44% 2.69%
10 Year 3.74% 3.74%
Benchmark 4.64% 4.64%

5 year VRM at Prime Less .80% for "Low Rate Basic" 1.90% today.

*Rates subject to change without notice. Certain conditions may apply. OAC, E & OE. Subject to 3% penalty or IRD. Rates published as of March 21, 2017.

Understand Our Rates

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Choosing Your Mortgage Amortization

Selecting the length of your mortgage amortization period - the number of years it will take you to become mortgage free - is an important decision that will affect how much interest you pay over the life of your mortgage.

While the lending industry’s benchmark amortization period is 25 years, and this is the standard that is used by lenders when discussing mortgage offers, and usually the basis for mortgage calculators and payment tables, shorter or longer timeframes are available – to a maximum of 35 years.

The main reason to opt for a shorter amortization period is that you will become mortgage-free sooner. And since you’re agreeing to pay off your mortgage in a shorter period of time, the interest you pay over the life of the mortgage is, therefore, greatly reduced.

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WhatClients Say About Us?

This is my 2nd time with you as my mortgage broker so that is a testimonial in itself. I found you have a very pleasant personality, trustworthy (someone I could confide in), knowledgeable, professional, and confident which assured me that things will be taken care of which was a great stress release for me.

-Bill