Angela Calla- Summer Report on Mortgages Globe & Mail

General Angela Calla 18 Aug

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Summer Report in Mortgages                Thursday August 18th 2016


Sound, creative solutions for first-time homebuyers 

Before taking the step from renting to buying, there are additional boxes to check, such as looking at your personal financial situation and getting advice from a mortgage specialist.

Not surprisingly, homeownership continues to rank high on the list of priorities and goals for Canadians of all ages. A recent Ipsos study found that almost three in 10 say they are likely to buy a home within the next two years, and 89 per cent feel buying a house or condo is a good investment. 

Having an opportunity to build equity while enjoying the comforts of your own home is attractive, yet it is essential to crunch the numbers before taking the plunge, says Bill Whyte. “You want to go in with your eyes wide open. Don’t get caught up in the hype, do your homework and comparisons, and make an informed choice,” says the senior vice-president and chief of member services at Meridian, Ontario’s largest credit union.

Mr. Whyte considers current interest rates an important factor fuelling the real estate market. “The historic low interest rate environment can help people gain entry into the market – it allows them to carry more debt. And while rates may not stay exactly where they are today, they are not likely to jump dramatically over the next few years.

“Today, you can get a five-year mortgage rate for under 2.5 per cent, which can make this time frame very stable for people who have taken all the different aspects of their personal situation into account.”

While low interest rates act as an incentive for prospective homebuyers, entering a “hot market – where real estate prices have outpaced earnings – can [be] challenging,” he cautions.

Residents in the Toronto area, for example, may adjust their expectations as they search for more affordable options, he explains. “Some are moving further into the suburbs or even beyond, to Hamilton, Guelph, Barrie or Oshawa. Others opt for areas with higher density and choose a condo, where we haven’t seen quite the same price increase as in detached homes.”

Both scenarios have different implications for expenses – such as commuting costs – that homebuyers should be aware of, says Mr. Whyte. “You have to make sure you can afford your mortgage and related expenses.”

Working through a budget with a mortgage professional or financial adviser can be helpful, especially for first-time buyers, he notes.

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“Knowing your goals can help you map outthe steps for getting there” Angela Calla, is a Host of”The Mortgage Show on CKNW AM980 Saturdays at 7pm

The same principles apply in the Vancouver region, says mortgage professional Angela Calla, who is also the host of The Mortgage Show on CKNW Radio. “A one-bedroom condo in downtown Vancouver can cost $500,000 on average, which would take a gross annual household income of approximately $100,000 to qualify for. If you look at Port Coquitlam or Coquitlam, which is a 30-minute commute from the downtown core, a one-bedroom condo can still be purchased for around $200,000, which takes a gross annual income of approximately $40,000 to qualify for,” she explains. “For the Coquitlam condo example, you would need to have a $10,000 down payment. Your mortgage payment is approximately $890 a month, plus $300 in strata fees and taxes. That puts your total monthly payment at around $1,190.”

An estimate like this can help potential homebuyers test their appetite for owning a place. “If you are paying over $1,500 a month in rent, why not take a look at what’s out there for you?” suggests Ms. Calla.

She adds that it’s never too early to seek advice. “Knowing your goals can help you map out the steps for getting there. If you are saving for a $10,000 down payment, for example, and you’re starting from zero, you would aim for saving $834 a month for a year by finding ways to reduce your spending or bringing in that money by selling an asset,” she says. “And if you have outside debt, it’s important to know which loans should be paid out to help your qualifications along.”

Mr. Whyte cautions that goals need to be realistic since one of the most common pitfalls is purchasing a home that is out of the buyer’s  price range. “There is no sense owning a home if you’re not able to pay your bills or go out and do the things you want to do,” he says. “We also recommend ‘stress testing’ your mortgage rate – we run the scenario of it going up one per cent at the end of the term to see if you can afford that.”

Some first-time homebuyers are gifted money from their parents for getting a foothold in the housing market, he says. Others postpone purchasing a home in order to save a more substantial sum for a down payment.

Mr. Whyte has also seen examples where friends and family members pool their resources in order to afford homeownership. “Among the non-traditional scenarios are two young families, groups of friends, or elderly and younger relatives getting together to buy a home,” he says, adding that Meridian offers mortgage solutions that are designed to take such creative approaches into account.

” End of article”

The Angela Calla Mortgage Team can help you personally with your mortgage, Please email or call 604-802-3983 

Angela Calla a CMP 2016 Young Gun

General Angela Calla 3 Aug

I am really grateful after over a decade of living my passion as a mortgage professional and educator, a wedding and 2 babies later to still be considered a Young Gun again. Its a pleasure to be along side with this Canada Wide list. A HUGE congratulations to my friends who made the list.‪#‎callateam‬   

Young Guns 2016

Young Guns 2016

Once again, CMP’s annual Young Guns list offers an insightful glimpse into the industry as it stands today and what it may be in the future. While everyone featured on this list is under the age of 35, that doesn’t mean they’re lacking in experience – or, indeed, wisdom. Many of the brokers on this list have more than a decade in the mortgage business under their belts. As such, they have strong opinions on where the industry is headed and what changes need to be made to ensure the continued credibility and legitimacy of the mortgage business. 

Many of this year’s Young Guns work in the intense markets of Vancouver and Toronto, which continue to dominate the conversa-tion about real estate in Canada. Some believe talk of a bubble is economist scaremongering – and that it’s growing tiresome – while others take the view that the current growth cannot go on forever, so contingencies should be put in place. 

Another major talking point among this year’s selection was how important technology has become, particularly in regard to the different expectations of Baby Boomers, Gen Xers and millen-nials. The consensus is that being able to adapt is crucial to success in 2016, and harnessing the many tools of the digital era is what will separate those at the top of the industry from the rest. That said, the days of the face-to-face meeting and personal phone call aren’t quite over yet, and our Young Guns agree that these forms of communication are still necessary for developing solid relation-ships with clients. 

If the young shall inherit the earth, and these young mort-gage professionals shall inherit this particular business, then the industry is clearly in the best of hands. 

Mortgage professional
Age: 33

When discussing what attracted her to the mortgage business, Angela Calla is unequivocal about the need to find value for her clients as they make the biggest purchase of their lives. “I love saving people money for what matters in life – anything is better than interest!” she says. “It’s my passion. I want to continue to educate Canadians on how to get their mortgage working for them. With our help, bottom line, you will always save the most amount of money.”

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Employment Opportunity At The Angela Calla Mortgage Team

General Angela Calla 3 Aug

Looking for a highly organised, motivated, quick learning, fast moving mortgage fulfilment specialist with excellent communication, and customer service skills with a desire to grow to join The Angela Calla Mortgage Team at DLC.

If you have worked in a busy compliance related industry, mortgage, finance, real estate, insurance, legal this could be a great fit.

Must type a min of 50 wpm, understand outlook, excel, and a quick learner with internal programs such as our DLC intranet, Fiologix, Otto, etc.

You will be required to either have a mortgage broker license or get it within 3 months of hire.

Your duties will include and will not be limited to: Customer Inquiries/Payment Modifications, Data Input, review of credit reports, qualification documents, reviewing uploading applications/paperwork, updating all systems, clients and associates with our current systems/processes.

You would be assisting with all paperwork, compliance, appointment , customer service, follow up tasks, marketing as delegated and initiated to execute the teams goals and see projects through.

This is a base salary plus bonus, commission and benefits from our Port Coquitlam office.

Extra hours outside of Monday to Friday 9-5pm will need to be accommodated when required for workflow and maintain our Customer Service Expectations. Please email your resume to