Dominion Lending is a mortgage and leasing company with more than 2,000 members offering free expert advice across Canada for all your mortgage needs:
- Residential Mortgages
- Commercial Mortgages
- Equipment Leasing
Mortgage Questions
Refinance & Consolidate
Refinance up to 80% of your Home's Value with no CMHC fees or up to 85% (with fees)!
Many consumers have taken advantage of lender refinance program over the past few years because of the super low interest rates that have befallen us. No one likes to refinance their home to pay out credit card debt, car loans or line of credit, but sometimes it makes sense to review this option in more detail.
Consider this checklist:
- Are you tired of making multiple (four or five) different payments each month?
- Do you find yourself making minimum payments each month?
- Are the other creditors charging interest rates which are higher than today’s mortgage rates?
- Do you wish you had more money to purchase stocks or bonds or other investments?
If you answered yes to the above checklist questions, please contact Dominion Lending Centres-Regional Mortgage Group to further discuss your ability to take equity out of your home(s) for a variety of purposes including: asset enhancement, debt consolidation, combining a first and second mortgage or renovations. It helps to have a professional consultant explain this program and review your individual needs in detail.
Do remember that even if your original mortgage was insured, you only pay the insurance premium on the new money borrowed, it’s called a top up premium if they are required.
Requirements for Re-financing include:
- Acceptable Loan Purpose
- Refinance purposes including: asset enhancement, debt consolidation, combining 1st and 2nd mortgage, renovations and investment purchases
- Available for extended amortizations up to 30 years(refer to 30 Year Product Overview for premium schedules)
- This program excludes mortgages for default management purposes.
- Eligible Properties
- Owner Occupied:
Maximum four units with at least one unit occupied as the principal residence
Existing properties (not for new construction)
- Secondary Homes or investment properties:
Maximum 2 units
Existing properties (not for new construction)
- Loan-to-Value Ratio Limits
- 'Loan-to-value' (LTV) is the relationship between the principal balance of a mortgage and the property value. For example, if you have a house valued at $100,000 with a $85,000 loan, you have a 85% LTV ($85,000 divided by $100,000 = 85%). For this program, the maximum LTV ratio is 85.00%
4)
- Amortization Options
- Available for extended amortizations up to 30 years (refer to 30 Year Product Overview for premium schedules). If a full premium is paid on the entire mortgage the amortization can be up to 30years (i.e., currently uninsured conventional mortgages).
Call To Action
For more information on any program you may be interested in please either email us at
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or call 403-343-1125 to set up an appointment with an agent.
Refinance & Consolidate
Refinance up to 80% of your Home's Value with no CMHC fees or up to 85% (with fees)!
Many consumers have taken advantage of lender refinance program over the past few years because of the super low interest rates that have befallen us. No one likes to refinance their home to pay out credit card debt, car loans or line of credit, but sometimes it makes sense to review this option in more detail.
Consider this checklist:
- Are you tired of making multiple (four or five) different payments each month?
- Do you find yourself making minimum payments each month?
- Are the other creditors charging interest rates which are higher than today’s mortgage rates?
- Do you wish you had more money to purchase stocks or bonds or other investments?
If you answered yes to the above checklist questions, please contact Dominion Lending Centres-Regional Mortgage Group to further discuss your ability to take equity out of your home(s) for a variety of purposes including: asset enhancement, debt consolidation, combining a first and second mortgage or renovations. It helps to have a professional consultant explain this program and review your individual needs in detail. Do remember that even if your original mortgage was insured, you only pay the insurance premium on the new money borrowed, it’s called a top up premium if they are required.
Requirements for Re-financing include:
- Acceptable Loan Purpose
- Refinance purposes including: asset enhancement, debt consolidation, combining 1st and 2nd mortgage, renovations and investment purchases
- Available for extended amortizations up to 30 years(refer to 30 Year Product Overview for premium schedules)
- This program excludes mortgages for default management purposes.
- Eligible Properties
- Owner Occupied: Maximum four units with at least one unit occupied as the principal residence Existing properties (not for new construction)
- Secondary Homes or investment properties: Maximum 2 units Existing properties (not for new construction)
- Loan-to-Value Ratio Limits
- 'Loan-to-value' (LTV) is the relationship between the principal balance of a mortgage and the property value. For example, if you have a house valued at $100,000 with a $85,000 loan, you have a 85% LTV ($85,000 divided by $100,000 = 85%). For this program, the maximum LTV ratio is 85.00% 4)
- Amortization Options
- Available for extended amortizations up to 30 years (refer to 30 Year Product Overview for premium schedules). If a full premium is paid on the entire mortgage the amortization can be up to 30years (i.e., currently uninsured conventional mortgages).