Demand Loan vs. Term Loan. What’s the Difference?
October 31, 2018
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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
2.95%
Current prime rate is
3.95%
-
- Terms
- Bank Rates
- Payment Per $100k
- Our Rates
- Payment Per $100k
- Savings
-
- 6 Months
- 3.34%
- $490.86
- 3.30%
- $488.77
- $2.09
-
- 1 Year
- 3.59%
- $504.03
- 3.34%
- $490.86
- $13.17
-
- 2 Years
- 3.74%
- $512.02
- 3.19%
- $483.05
- $28.97
-
- 3 Years
- 3.89%
- $520.07
- 3.24%
- $485.65
- $34.43
-
- 4 Years
- 3.94%
- $522.77
- 3.29%
- $488.25
- $34.52
-
- 5 Years
- 5.34%
- $601.11
- 3.14%
- $480.46
- $120.65
-
- 7 Years
- 5.80%
- $627.97
- 3.79%
- $514.70
- $113.27
-
- 10 Years
- 6.10%
- $645.76
- 4.14%
- $533.64
- $112.13
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 bank or from licensed mortgage professional Michele McGarvey.
While a bank only offers the products from their particular institution, licensed mortgage professionals send 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 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.
“Michele was very thorough explaining all of the possible options, and how things would work with each of them. She was very accommodating to our complicated schedule and worked with us over phone & email to progress our file until signatures were required. We would definitely use Michele’s services again in the future.”
“Michele from the outset was very helpful, informative, knowledgeable, and intent on getting us the best deal available.”
“Michele is very professional and I know I can count on her to make sure nothing is missed. Very positive, diligent and trustworthy!”
“I first applied for a mortgage with my bank of 20 years or so, and they screwed it up so bad it set me back a year in the process. I went to Michele and she was quick, efficient and much more educated on the whole process than the previous mortgage person I spoke with. Michele guided me through the process perfectly, recommended me excellent people to help with the closing and such, and was literally a dream to work with for buying my first house. I would recommend Michele to anyone who ever needs a broker, and I will be using her in every real estate deal I have in the future. I cannot express my satisfaction in this whole process. I would have been lost without her.”
“I want to tell you how much we appreciate all of your efforts that culminated in us being able to purchase and move into our new, beautiful, wonderful home. We owe you a huge THANK-YOU. Thank-you for being able to pull together our financing in the very short time between our request and our possession date – unbelievable! Thank-you for actually listening to what we wanted (not at all usual in our world today). Thank-you for getting us everything we asked for!- Especially the specific prepayment options we needed. Thank-you for being a true professional – I’m sure in your line of work you know what its like to deal with true professionals and how uncommon that is – you provided so many intangibles – timeliness, courtesy, truthfulness, reliability, the list goes on.- Finally, from me especially – thanks for being Michele. We will work together again one day.”
Lenders
Current Rates
Current variable mortgage rate is
2.95%
Current prime rate is
3.95%
-
- Terms
- Bank Rates
- Payment Per $100k
- Our Rates
- Payment Per $100k
- Savings
-
- 6 Months
- 3.34%
- $490.86
- 3.30%
- $488.77
- $2.09
-
- 1 Year
- 3.59%
- $504.03
- 3.34%
- $490.86
- $13.17
-
- 2 Years
- 3.74%
- $512.02
- 3.19%
- $483.05
- $28.97
-
- 3 Years
- 3.89%
- $520.07
- 3.24%
- $485.65
- $34.43
-
- 4 Years
- 3.94%
- $522.77
- 3.29%
- $488.25
- $34.52
-
- 5 Years
- 5.34%
- $601.11
- 3.14%
- $480.46
- $120.65
-
- 7 Years
- 5.80%
- $627.97
- 3.79%
- $514.70
- $113.27
-
- 10 Years
- 6.10%
- $645.76
- 4.14%
- $533.64
- $112.13
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.
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