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
5.05%
Current prime rate is
5.95%
-
- 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
- 5.74%
- $624.43
- $122.25
-
- 2 Years
- 7.34%
- $721.53
- 5.44%
- $606.90
- $114.63
-
- 3 Years
- 6.94%
- $696.72
- 4.64%
- $561.28
- $135.43
-
- 4 Years
- 6.74%
- $684.44
- 4.64%
- $561.28
- $123.16
-
- 5 Years
- 6.79%
- $687.50
- 4.44%
- $550.14
- $137.36
-
- 7 Years
- 7.10%
- $706.60
- 5.40%
- $604.58
- $102.02
-
- 10 Years
- 7.25%
- $715.92
- 5.80%
- $627.97
- $87.95
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.
Lenders
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I’ll get right to the point, if you have come across Michael James via a friend or colleague as a reference, or managed to come across his company by chance, while looking for a broker?
You have come to the right place!
Michael and his team are not just mortgage brokers. They are a compassionate and caring team that goes above and far beyond, then what one might expect.
It was a pleasure to have them on our side working with us to arrange the best possible outcome that we could possibly imagine. Michael made us feel at ease with all necessary work that is required and guided us in the right direction for what would work best for our situation. I am confident he can do the same for you!
GS, North Vancouver, BC
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
It gives me great pleasure to be able to offer the recommendation for the services that Mr Michael James provided us during the purchase our home. Mike was very professional throughout the process taking the time to explain our various options given our circumstances. However, what I found to be most impressive was that he provided these services with a personal touch taking the time to address all of our concerns and questions throughout the whole process. I highly recommend Mike’s services to anyone interested in purchasing a new home. —- TM
Michael James is exactly the type of mortgage professional you want in your corner. Michael is constantly in tune with ever changing rules and rates in the Mortgage Industry. His tireless work ethic and focus to make sure your mortgage fits what you need makes him a leader in the industry. I fully endorse Michael and recommend him to my clients and friends. I just remind them when it comes to their mortgage Think Michael! —- MS
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 James. —- JL
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