Mortgage Types 101
February 9, 2024
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Welcome
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 TouchCurrent Rates
Our 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 Rates
Current variable mortgage rate is
4.55%
Current prime rate is
5.20%
-
- Terms
- Bank Rates
- Payment Per $100k
- Our Rates
- Payment Per $100k
- Savings
-
- 6 Months
- 7.89%
- $756.21
- 7.49%
- $730.93
- $25.28
-
- 1 Year
- 7.74%
- $746.69
- 5.24%
- $595.34
- $151.35
-
- 2 Years
- 7.34%
- $721.53
- 5.19%
- $592.47
- $129.06
-
- 3 Years
- 6.94%
- $696.72
- 4.44%
- $550.14
- $146.57
-
- 4 Years
- 6.74%
- $684.44
- 4.54%
- $555.70
- $128.74
-
- 5 Years
- 6.79%
- $687.50
- 4.29%
- $541.86
- $145.64
-
- 7 Years
- 7.10%
- $706.60
- 5.35%
- $601.69
- $104.91
-
- 10 Years
- 7.25%
- $715.92
- 5.75%
- $625.02
- $90.90
Some conditions may apply. Rates may vary from Province to Province. Rates subject to change without notice. Posted rates may be high ratio and/or quick close which can differ from conventional rates. *O.A.C. E.& O.E.
Calculators
Our Interactive Mortgage Calculators will allow you to explore your Mortgage options to make the right home financing decision.
Use NowHow to Apply
Applying 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 Big Bank or from licensed Mortgage Professional Michael James of DLC Mortgage Evolution.
While a bank is limited to only the products from their particular institution, a licensed Mortgage Broker sends millions of dollars in mortgage business each year to Canada's largest banks, credit unions, trust companies, and financial institutions; offering their clients more choice, and access to dozens of lenders and hundreds of mortgage products! As a result, clients benefit from the trust, confidence, and security of knowing they are getting the best mortgage for their needs.
Whether you're purchasing a home for the first time, taking out equity from your home for investment or pleasure, or your current mortgage is simply up for renewal, it's important that you are making an educated buying decision with professional unbiased advice. Please contact me to evaluate the options for your mortgage success.
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“Working together with Mike allowed me to be secure in the knowledge that my best interests were being looked after. His understanding of what I needed was invaluable in getting me the mortgage that was a perfect fit. From beginning to end my dealings with Mike were top drawer. Thank you for getting me such a great rate & saving me so much money.” SS
Michael first assisted me after I had purchased my first home and he explained that there were much more attractive interest rates available. He quickly and professionally guided me through the necessary steps that inevitably saved me piles of money and years off of my mortgage. From that point on Michael assisted me with several more transactions and in each case he demonstrated his professionalism and experience. I’m a client for life and I can confidently say that if you speak to him for 10 minutes you will understand why. —- AM
We worked with Michael when it became time to renew our mortgage. He very patiently and expertly walked us through the various options, their pros and cons and ultimately helped us select a great deal. His professionalism and huge personality instilled great confidence, my wife and I trust him completely. Such a great guy, and a pleasure to work with. Highly recommended! —- C
We’ve worked with Michael James to secure our last two mortgages, and wouldn’t hesitate to work with him again, or to recommend him to others (in fact, we regularly do recommend him to others). He works hard on his clients’ behalf, and he’s extremely knowledgeable about the mortgage and real estate biz. A great person to have in your corner when you’re navigating the volatile waters of house-ownership in Vancouver! —- LB
Michael helped my wfie and I navigate the experience of buying our first house. He was knowledgeable and very patient with us both. I highly recommend securing a mortgage with Mike Ja
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