Another Jumbo Rate Hike, Signalling More To Come
June 4, 2022
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Each Office Independently Owned & Operated
Whether you are a 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!
Get in TouchOur rates are always competitive and we pride ourselves on making sure that you get the best possible rate available to you. Check out our current rates below, compared to the competition.
Current variable mortgage rate is
2.80%
Current prime rate is
3.70%
Our Interactive Mortgage Calculators will allow you to explore your Mortgage options to make the right home financing decision.
Use NowApplying for a mortgage couldn’t be easier. Just complete our secure application and we will be in touch shortly.
Apply NowThere are generally two ways to get a mortgage in Canada; from a bank or from one of our licensed mortgage professionals, Gabriel Da Silva, one of our Dominion Lending Centres-Forest City Funding agents who is independently owned and operated. Gabriel Da Silva specializes in Residential and Commercial lending, servicing the Mississauga, Port Credit and surrounding Greater Toronto "GTA" area.
In a world with an abundance of options, it can be hard to know which way to turn to ensure that you make the best decision for your future. Fortunately, a mortgage broker can help! With access to 121 lending institutions including big banks, credit unions and trust companies, mortgage professionals like myself are familiar with a vast array of available mortgage products.
From first-time homebuyer programs to financing for the self-employed or those with credit blemishes, I can help find the best mortgage for you - no matter what stage of life you are in!
A Mortgage Broker Saves Time: One of the biggest benefits to using a mortgage broker is that they are a one-stop-shop that not only saves you time, also will save you money too. Mortgage brokers are experts in mortgages and can contact all lenders, from the big 5 banks to credit unions and even alternative options (if required). This means that YOU only need to fill out one application and your broker will do all the heavy lifting to present you with the best options for your budget so you can make the final decision!
A Mortgage Broker Can Often Find a Lower Rate: When it comes to mortgages, not all lenders are created equal. Not only do different banks offer different rates depending on the mortgage conditions, but banks can only see their own rates. For you to be able to get accurate quotes, you would need to have multiple meetings - one with each bank or lender - to get their mortgage rate and terms. A mortgage broker has access to all of the different lenders and their connections can often result in a lower mortgage rate and better plan for you and your family.
A Mortgage Broker Offers Unbiased Advice: Mortgage brokers typically work with dozens of lenders and rely on client satisfaction and referrals to keep their business running. Unlike banks focused on signing you for profit reasons, a mortgage broker is a third-party service who gets paid no matter which bank they sign you with. This means they can provide the best rate and unbiased advice because they are focused on helping you achieve your dream.
A Mortgage Broker Service is (Mostly) No Cost: In most cases, using the services of a mortgage broker comes at no cost to the homeowner or home buyer. A mortgage broker instead receives compensation directly from the lender. The only time you might have to pay is when working with a private lender or a lender that refuses to pay brokerage fees - which a mortgage broker would tell you about in advance.
A Mortgage Broker Protects Your Credit Score: Not only does it take a great deal of time to apply at dozens of lenders yourself, but it can also lead to a lower credit score. Each time you apply at a lender, they must do a “hard credit check”. Unfortunately, too many credit checks in a short period of time can lower your credit score. The benefit of a mortgage broker is that they typically only need to pull your credit score once to apply to various lenders, which protects your hard work.
I would love to offer my advice and expertise to ensure you get the best mortgage product; please do not hesitate to reach out and book an appointment at your earliest convenience!
Current variable mortgage rate is
2.80%
Current prime rate is
3.70%
2.60%
A variable rate mortgage often allows the borrower to take advantage of lower rates – the interest rate is calculated on an ongoing basis at a lenders’ prime rate minus or plus a set percentage. For example, if the current prime mortgage rate is 3.2 percent, the holder of a prime minus 1.15% percent mortgage would pay a 2.05% percent variable interest rate.
As a consumer, the best option is to have a candid discussion with your mortgage professional to ensure you have a full understanding of the risks and rewards of each type of mortgage.
Qualify at contract/lending rate for 5 yrs NOT the bank qualifying rate.
We're here to help you with home purchases, mortgage renewals, refinancing and more.
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June 4, 2022
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Commercial Leasing & Financing