Some one just told me that Dominion Lending is a subsidiary of RBC? This helps...assuming it is true
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| Question about Dominion Lending http://www.hawthornevillager.com/phpbb/viewtopic.php?f=3&t=21209 |
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| Author: | AyeshaAndShoaib [ Mon Oct 05, 2009 10:19 am ] |
| Post subject: | Question about Dominion Lending |
Hi, Some one recommended me a broker from Dominion Lending and they are offering 3.79 fixed rate for 5 years. The mortgage is from "Dominion Lending" itself. There is not much information that I could find about "Dominion Lending" as the lender. Can some one provide some information about them... Regards, Shoaib |
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| Author: | Mbroker [ Mon Oct 05, 2009 12:21 pm ] |
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Hello Shoaib. I cannot tell you much about Dominion Lending, because I don't deal with them, but if you don't feel comfortable with them, I can get you this rate (of course when you will qualify) for a great 5 year mortgage term with larger and established lender on the market. You will also get 1 year free home care program, which will cover your electrical, plumbing, air conditioning. Let me know if you are interested. Thank you. |
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| Author: | Mbroker [ Mon Oct 05, 2009 12:35 pm ] |
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Tip: Don't be afraid to go with smaller lenders over Big five's. You will not lose your home in case of their collapse. No one will come and kick you out. If it was a perfect world you would want them to go bankrupt because then you would be mortgage free. In reality someone will basically take over your mortgage. In Canada it will probably be a big bank, since the smaller lender is a subsidiary of Big Five, eg.(First Line) or they will buy their books. In worst case a new mortgage holder will not renew your term. In this case you will transfer your mortgage somewhere else. So there is no harm in choosing other lenders over the bank. Nowadays it all comes down to customer service levels, and many smaller institutions are more helpful. I hope it would clear things out for some people. |
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| Author: | AyeshaAndShoaib [ Mon Oct 05, 2009 12:59 pm ] |
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Some one just told me that Dominion Lending is a subsidiary of RBC? This helps...assuming it is true
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| Author: | Mbroker [ Mon Oct 05, 2009 1:04 pm ] |
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Well let’s clear things out; Dominion Lending is a Mortgage Brokerage, just like Mortgage Intelligence. So they will place you with another lender. I don’t think they are a lender themselves. I don't work wth them so I would not know, may be they are having their own product. When a broker from Dominion Lending or any other brokerage is offering you a mortgage, you will be places with another lending institution, banks, trusts, etc... Unless brokerage acting as a lender themselves. So dominion lending is not an institution that is going to provide you with mortgage funds. |
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| Author: | MortgageSource [ Fri Nov 15, 2013 7:13 am ] |
| Post subject: | Re: Question about Dominion Lending |
I know this conversation dates back a number of year's but for those who might still be reading these comments I just wanted to clarify a bit about Dominion Lending Centres. (DLC) DLC is Canada's largest mortgage brokerage with access to over 90 banks, credit unions and trust companies. There are over 2,200 mortgage brokers and mortgage agents across Canada licensed under independently owned and operated franchises. Due to the volume of mortgages produced by DLC we get access to unpublished discounted rates from the banks that one can not get when dealing direct with banks. In addition to the multiple mortgage products offered by all the lenders, DLC has various white labeled products that are serviced by Paradigm Quest, who in turn get some of their funding from RBC. Hope this helps. Have a great week. Remember - "People don't care how much you know, until they know how much you care" - John C Maxwell |
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