May 2012
Shirley Evans

Dominion Lending Centres Lender Direct

Phone: 780-454-6005
Fax: 780-483-0959


Summer Water Conservation Tips:

As a general rule your lawn only needs 2-3 cm of water per week. To cut down your water usage even further, try to use low angle or pulsating sprinklers that produce large droplets of water opposed to a fine mist that will evaporate quicker. Routinely check your irrigation systems for leaks and fit your hose with an automatic shut-off nozzle to ensure water is not wasted when left unattended. Invest in a rain barrel to collect rain water. Be sure to find one with a spigot and suitable cover to protect from contamination and evaporation. Water collected in your rain barrel is actually better for your garden because it doesn’t contain chlorine contaminants and is at ambient temperature. Not only will these tips help protect our environment, but it will help to water down your bills as well. Click here to check how your household measures up with Environment Canada’s Water Use Calculator.


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.


Welcome to the May issue of my monthly newsletter!

This month’s edition offers three reasons why you may want to consider a longer mortgage term, as well as cautions you about simply signing a renewal offer from your lender. Please let me know if you have any questions or feedback regarding anything outlined below.

Thanks again for your continued support and referrals!



The 10-year fixed-rate mortgage has generated renewed interest lately as borrowers look to lock in for the long term and enjoy the security and peace of mind this brings.

With mortgage rates at all-time lows, it turns out that fashion isn’t the only thing that comes back into style! In fact, 10-year fixed mortgage rates have never looked so tempting.

Following are three key reasons to consider a 10-year mortgage term:

1. After five years, you only have to pay three months’ interest to get out of the mortgage. This is currently the lowest penalty available for a fixed rate – much more attractive than facing a much higher interest rate differential (IRD) penalty!

2. If you’re on a fixed income, taking advantage of a longer term fixed-rate mortgage can definitely be beneficial. Currently, with our historically low interest rates, a five-year fixed rate is around 3.19% and 10-year is around 3.89%. So, if after five years rates have risen to 4.6% or higher (which is very likely), you would have been ahead taking the current 10-year at 3.89%. Instead of guessing how much longer rates will remain at historic lows, if you’re on a fixed income, you know you’ll be paying the same rate for 10 years.


And, chances are, after 10 years are up, you’ll be in better shape financially and have more equity in your home.

3. You don’t need the equity out of your home for your next purchase as you can buy again with a 5% down payment. For instance, if you purchase with 5% down, your property would have to go up more than 25% for you to get equity to use as a down payment for a second home, which is not likely in five years. But, you can turn your current condo into a rental and buy your next home with 5% down (with a combination of savings or a gift). Rental mortgages usually require a 20% down payment, whereas primary residences typically require just 5% down. Purchasing a condo to live in until you’re ready to buy another home, and then renting out the condo, is a great way to become a real estate investor without having to come up with a 20% down payment.

The return of the solid 10-year means you have options. It may not be the best option for everyone, and the market may change in a few months to make it less attractive. Let me show you how all the products apply to your specific situation to ensure you receive the best product and rate to meet your unique needs.

As always, if you have questions about mortgage terms, or other mortgage-related questions, 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’ll 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 2,000 Mortgage Professionals from more than 350 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!