31 Jul

Deal of the week as heard with @angelacalla @willingtwo @cknw #whiterock

General

Posted by: Angela Calla

As heard on this weeks Mortgage Show on CKNW with Angela Calla Saturday Auguest 4st 2012. To get pre approved for this property or any other purchase email us at callateam@dominionlending.ca or call 604-802-3983

This weeks deal of the week has been brought to you by:

Robert Boies
Royal LePage Coronation West
cell: 604 341 3009 t: willingtwo
E-mail: robboies@royallepage.ca
www.willingsellerwillingbuyer.com

Live across from the #whiterock beach for $48 dollars a day http://rboies.mlslink.mlxchange.com/?r=1795529341&id=363434333136.312

Please note that properties like this move quickly and getting set up with Rob Boies directly robboies@royallepage.ca will keep you abreast of all of these types of oppertunities meeting your speciafications

Thanks for visiting

Angela Calla, AMP

30 Jul

Changes upcoming to secured Lines of Credit

General

Posted by: Angela Calla

With the latest round of changes to insured mortgages, which came into effect July 9th, 2012, it appears that Canadians may have overlooked some changes that they should review more closely for Conventional Mortgages (borrowers who don’t require mortgage insurance)! As early as this coming October, there will be even more changes (as I mentioned earlier this year). This will  impact the segments of the market approaching retirement or accessing tax-deductible funds from a line of credit for investment.

OSFI’s final mortgage underwriting guidelines are out, and these guidelines are less concerning than OSFI’s original draft. In many ways this news isn’t as market-shaking, but you have time to prepare in advance and review your plan either to purchase or access your equity through a home equity line of credit (HELOC) up to 80% now instead of 65% later.  The Angela Calla Mortgage Team is committed to ensuring you are well positioned in any market!

That said, here is what’s changing (Note: this applies to federally regulated lenders only):

 •HELOCs:  The maximum loan-to-value on a HELOC will drop from 80% to 65%. This will sting borrowers who leverage HELOCs for productive purposes (eg, as substitutes for open mortgages, or as a low-cost borrowing source for income-generating investments or small business). Lenders can, however, still provide a 15% amortizing mortgage on top of a HELOC, for a total 80% loan-to-value. OSFI tells us: “Existing HELOCs are not affected, but future offerings are subject to the limits.”

Federally regulated lenders have until “no later than fiscal year-end 2012” to comply with these guidelines. That ranges from October 31st, 2012 for major banks to March 31st, 2013 for other institutions. But OSFI expects them to comply sooner, if possible, so we may see some of these changes within a few months, if not weeks. (This is another example of why the Angela Calla Mortgage Team always talks about acting sooner rather than later and not procrastinating!)

 There’s no telling yet if provincial regulators will impose the same guidelines on the lenders they regulate (like credit unions). Time will tell and we will keep you informed. We’re always here to help you and those you care about with your mortgage questions and reviews.

 Here’s the full Guideline B-20: www.osfi-bsif.gc.ca/app/DocRepository/1/eng/guidelines/sound/guidelines/b20_e.pdf

 Angela Calla, AMP Dominion Lending Centres

Host of The Mortgage Show on CKNW AM980 Saturdays @ 7pm

acalla@dominionlending.ca 604-802-3983

 

27 Jul

3 Tips to Eliminate & Manage Debt

General

Posted by: Angela Calla

Canadians are lucky if they save 5% of their income, and a new report suggests most actually spend more than they make. And one in six Canadians live paycheque to paycheque!

Following are a few tips to help you get off the hamster wheel and make a positive impact on your finances:

  1. 1.       Take advantage of today’s low interest rates by reviewing how a debt restructure may work for you. For instance, a $10,000 credit card debt may be able to be reduced from a $300 monthly payment to just $50 – freeing up $250 a month in cash flow. This, coupled with the right financial strategy and time limit, will help you pay off debt much quicker.
  2. 2.       Take advantage of small adjustments while long-term rates are at all-time lows. This can make a BIG difference long term. For example, rounding your payments up to the nearest $100 dollars will shave years off of your mortgage, which is consistent with a good time strategy to pay your mortgage off quicker.
  3. 3.       Keep on track with a budget tool available at (www.angelacalla.ca) and don’t make excuses. Remember that making the wrong decisions or delaying reviewing your mortgage is time that you can never get back. Taking the time now to review your options truly can save you a lot of money in the future!

The Angela Calla Mortgage Team can help you see how much you can save!

Angela Calla, AMP
Mortgage Expert
Host of “The Mortgage Show” on CKNW AM980 Saturdays at 7pm

callateam@dominionlending.ca 604-802-3983

25 Jul

Lower Mainlands Real Estate Darling #newwestminster

General

Posted by: Angela Calla

We featured #newwestminster 2 weeks ago ahead of this article on The Mortgage Show on @cknw which we believe to be a great showcase of the beautiful city

http://www.theglobeandmail.com/life/home-and-garden/real-estate/the-lower-mainland-has-a-new-neighbourhood-darling/article4436080/

Tune in this week with Angela Calla, AMP to hear our deal of the week from @willingtwo Rob Boies

To get pre approved to learn your options today in the Lower Mainland contact

The Angela Calla Mortgage Team 604-802-3983 or callateam@dominionlending.ca

23 Jul

"Average Home Prices" don’t tell the whole story

General

Posted by: Angela Calla

There are many factors involved with finding out the real pricepoint, and the other 4 methods mentioned in link below are more accurate.

Thank you to CBC for reporting this! We have been saying this for YEARS on The Mortgage Show on CKKW AM980 Saturdays at 7pm with me Angela Calla,AMP

http://www.cbc.ca/news/canada/story/2012/07/17/f-average-home-prices.html

Want to review your purchasing power or review your mortgage?

Ccontact the Angela Calla Mortgage Team callateam@dominionlending.ca 604-802-3983

 

19 Jul

Deal of the week @cknw @angelacalla @willingtwo #portcoquitlam

General

Posted by: Angela Calla

As heard on this weeks Mortgage Show on CKNW with Angela Calla Saturday July 21st 2012. To get pre approved for this property or any other purchase email us at callateam@dominionlending.ca or call 604-802-3983

This weeks deal of the week has been brought to you by:

Port Coquitlam detached hone with 1 bedroom basement suite:http://rboies.mlslink.mlxchange.com/?r=1938575320&id=363434333136.312

Robert Boies
Royal LePage Coronation West
cell: 604 341 3009 t: willingtwo
E-mail: robboies@royallepage.ca
www.willingsellerwillingbuyer.com

Please note that properties like this move quickly and getting set up with Rob Boies directly robboies@royallepage.ca will keep you abreast of all of these types of oppertunities meeting your speciafications

Thanks for visiting

Angela Calla, AMP

 


18 Jul

Is now the time to buy? Warren Buffet thinks so!

General

Posted by: Angela Calla

No question we are in buyers market not only here in our home town but in the US as well.

We have been talking about this Warren Buffet analogy for over a month on the Mortgage Show on CKNW Saturdays at 7pm

Enjoy the read:

http://www.smartmoney.com/invest/stocks/is-it-time-to-buy-into-real-estate-1341940837097/

To learn about your options to buy a home contact The Angela Calla Mortgage Team 604-802-3983 callateam@dominionlending.ca

18 Jul

More Costs For Credit Card Users

General

Posted by: Angela Calla

No Surpise here, most costs go up

http://www.vancouversun.com/business/Credit%20card%20users%20could%20soon%20face%20higher%20costs%20paying%20with%20plastic/6948690/story.html

What you can do about it is review your mortgage to see if you can take advantage of todays emergency low interest rates to reduce your interest costs on your credit card by restucturing your exisiting mortgage, this on average results in a reduction of $250 per current $300 a month payment!

Angela Calla Mortgage Team 604-802-3983 callateam@dominionlending.ca

 

18 Jul

Why is Carney still talking rate hikes

General

Posted by: Angela Calla

Simply put, to get Canadians saving instead of spending and not planning there futures on todays emergency low rates.

25% of investors are betting on a rate decrease, while economists disagree.

Carney notes 1% is still an emergency rate and is ready to move at any time the forcast changes.

Optimize your mortgage today as you can’t count on low rates forever!

Angela Calla Mortgage Team 604-802-3983 callateam@dominionlending.ca

http://business.financialpost.com/2012/07/18/investors-want-to-know-why-carney-is-still-talking-about-rate-hikes/

17 Jul

Affordable real estate options – here is proof they exist!

General

Posted by: Angela Calla

Who says real estate isn’t affordable – even in the lower mainland??

There truly are affordable real estate options for British Columbians. Following are some great examples:

If you make $20 an hour working full time (approximately $40,000/year) and have accumulated approximately $10,000 for a down payment from your RRSPs, unused RESPs, Gift or Savings, and have a good credit score, homeownership is an option for you. The Angela Calla Mortgage Team will walk you through your budget to make sure it fits with your long-term criteria so you can take advantage of today’s buyers’ market. Great opportunities not only exist for first-time buyers, but also for real estate investments. Don’t forget our vacancy rate is below 2%!!

Below are several examples of properties you can own today for $200,000 or less. Contact us for your preapproval today: callateam@dominionlending.ca. Remember that buyers’ markets are not endless, as interest rates will have to rise and the demand will get absorbed as people immigrate/migrate to our province (which happens at a fast rate in the lower mainland).

Vancouver (694 listings):  http://rboies.mlslink.mlxchange.com/?r=827638084&id=363434333136.312

Burnaby (35 listings): http://rboies.mlslink.mlxchange.com/?r=512545961&id=363434333136.312

New Westminster (46 listings): http://rboies.mlslink.mlxchange.com/?r=1008056115&id=363434333136.312

Port Coquitlam/Port Moody/Coquitlam (85 listings): http://rboies.mlslink.mlxchange.com/?r=1591368931&id=363434333136.312

Pitt Meadows/Maple Ridge (91 listings): http://rboies.mlslink.mlxchange.com/?r=724443383&id=363434333136.312

Langley (114 listings): http://rboies.mlslink.mlxchange.com/?r=210169089&id=363434333136.312

Surrey/Cloverdale (285 listings): http://rboies.mlslink.mlxchange.com/?r=1928240369&id=363434333136.312

Clearly, buyers have options. It’s all about the lifestyle you choose to lead and what commitment you’re willing to make to own your own home. There are a lot of listings above, so don’t feel overwhelmed. Let’s ensure you’re preapproved first, and then have a discussion about your needs and wants and consider all aspects of your budget to narrow down your choices. While we have shown you all the properties that are listed at $200,000 and below, not all of these properties are prime and fit within the recommended criteria for the most successful long-term investments. The availability of these listings can also change daily. If you would like to learn about your specific options start by contacting The Angela Calla Mortgage Team today!

Angela Calla, AMP
Mortgage Expert
Host of “The Mortgage Show” on CKNW AM980 Saturdays at 7pm

Phone: 604-802-3983
Fax: 604-939-8795

Facebook: Angela Calla Team, AMP Your Mortgage Expert T: @angelacalla
Toll Free: 1-888-806-8080
Email: acalla@dominionlending.ca
Apply Online: www.angelacalla.ca
CLICK HERE to Watch My Video Presentation