April 2011
Angela Calla, AMP

Dominion Lending Centres
Phone: (604) 802-3983
Fax: (604) 939-8795


Dominion Lending Centres’ national spokesperson is Don Cherry. Don has a recognizable presence and voice across Canada, and is best known for being the ‘flamboyant yin’ to Ron MacLean’s ‘yang’ on the popular Coach’s Corner segment on Hockey Night in Canada. He was recently named one of the top 10 Canadians of all-time in the nationwide CBC program “The Greatest Canadian”. Don was also ranked 23rd in the May 2010 issue of Reader’s Digest as one of the most trusted Canadians – the perfect image required when educating Canadians about using a DLC mortgage professional for their mortgage financing needs. Click here to view our first commercial for this campaign, which is currently airing across Canada on such programming as CTV News, Global News and Sportsnet hockey games.


Door Replacement Guide:
Are you planning to replace a door in your home? To avoid unpleasant surprises, you should take proper measurements and carefully verify your needs. Rona offers a step-by-step online Planning Guide for Choosing a Door to help you correctly compile the information you will need before visiting your home renovation centre.

About DLC Leasing Inc

* DLC Leasing is the leasing division within Dominion Lending Centres Inc.

* Our leasing programs provide up to 100% financing on business-related equipment.

* Leasing options include new equipment leasing; used equipment and vehicle leasing; customized solutions through vendor finance programs; and lease-backs –where the lender buys equipment from a business owner and the owner leases it back.

* Technology, heavy equipment and trailers, furniture and hospitality equipment, and manufacturing and industrial equipment are just a few examples of available leasing options.

* With access to multiple lending sources, Dominion Lending Centres’ Lease Professionals can cater to leasing deals for a variety of credit scenarios ranging from A to C credit quality.

* Because many of our Lease Professionals are also licensed mortgage agents, we can offer standard equipment leases and creatively structured solutions for seasonal, new or growing companies.

* Working with someone who is both a lease and mortgage expert enables you to even use commercial and residential mortgage and property credit line products, alone or in combination with lease financing, to help achieve the best solutions for your equipment acquisition needs.

* Our Lease Professionals can even break up large-dollar transactions into multiple leases across a number of funders to ease and simplify the approval process.
Christopher Welcome to the April issue of my monthly newsletter!

This month’s edition takes a look at a Bank of Canada study into mortgage discounting, as well as highlights why it’s important to get the lenders competing for your business when your mortgage is up for renewal. Please let me know if you have any questions or feedback regarding anything outlined below.

Thanks again for your continued support and referrals!



Have you ever wondered why banks have posted mortgage rates, yet they’re willing to offer mortgages below these interest rates to some borrowers?

The Bank of Canada (BoC) wanted to find out how consumers can get the very best mortgage rate, which led to the undertaking of an extensive study on mortgage discounting. 

According to their research, Canadians who get the best mortgage rates are those who:

1. Bargain

  • Research proves that bank profits “are significantly higher in haggle environments.” As a result, banks prefer not to put all of their cards on the table.
  • This leads to “price discrimination”, whereby banks give better deals to skilled negotiators and well-informed borrowers.

2. Have larger mortgages

  • “Since few negotiate the renewal of their mortgage… (this) provides lenders with an incentive to attract consumers with larger loans who have large outstanding balances at the time of renewal.” 

3. Use a mortgage broker

  • The report states that brokers lower the “search costs” of getting multiple quotes. Multiple quotes (lower search costs) are strongly correlated with lower rates. 
  • “Over the full sample, the average impact of a mortgage broker is to reduce rates by 17.5 basis points.”  That’s ~$1,670 of interest savings on a typical $200,000 mortgage over five years.
  • Bank “mortgage specialists offer convenience to consumers, although they do not reduce search costs. This is because they work for one lender only.” 

Click here to read the working paper on the BoC study.

It’s important to understand that mortgage brokers can offer lower rates because of the large volume of mortgages we successfully fund with lenders each year. This enables mortgage brokers to offer our clients wholesale versus retail pricing.

And while mortgage brokers have access to hundreds of products available through dozens of lenders, when you approach a lender directly for a mortgage, that lender can only offer one line of mortgage products – their own.

As always, if you have questions about finding the right mortgage product and rate to suit your specific needs, I’m here to help!


While most Canadians spend a lot of time and expend a lot of effort in shopping for an initial mortgage, the same is generally not the case when looking at mortgage term renewals. Omitting proper consideration at the time of renewal costs Canadians thousands of extra dollars every year.

It’s important to never accept the first rate offer that your existing lender sends to you in the mail around renewal time. Without any negotiation, simply signing up for the market rate on a renewal will unnecessarily cost you a lot of extra money on your mortgage.

It would be my pleasure to have the lenders compete for your mortgage business at renewal time to ensure you receive the best mortgage options and rate catered to your specific needs. After all, just because a lender had the best available product or rate for you when you obtained a mortgage one, three or five years ago does not mean the same holds true in today’s market.


With products and rates changing on an ongoing basis, you can’t possibly know what the best offering is for your unique situation without having me – a mortgage professional – do some investigating on your behalf.

It’s my job to look at every rate and product change from each lender – including banks, trust companies and credit unions – every morning to ensure I find the best deals for my clients. I also have the inside scoop on specials available through dozens of lenders thanks to the large volume of business I fund through these lenders each year.

Often times, your existing lender will send a highball renewal rate to their existing clients in the hopes that you will simply sign the renewal form and send it back. Your best bet is to come to me prior to your renewal date or forward the lender’s renewal offer to me before signing anything. That way, you can rest assure you’re getting the best possible mortgage product and rate that suits both your current and future mortgage needs.


  • We are Canada’s largest and fastest-growing mortgage brokerage!
  • We have more than 1,900 Mortgage Professionals from more than 300 locations across the country!
  • Our Mortgage Professionals are Experts in their field and many are ranked among the best nationally.
  • We work for you, not the lenders, so your best interests will always be our number one priority.
  • We have more than 100 mortgage programs, making it easy to choose the best fit for your unique situation.
  • We close loans in all 10 provinces and 3 territories.
  • We can process your mortgage in as few as 7 days.
  • We are the preferred mortgage lender for several of Canada’s top companies.
  • Dominion Lending Centres’ Mortgage Professionals are available anytime, anywhere, evenings and weekends – and we’ll even come to you!