Since most couples have a   joint mortgage – one where both names are on the mortgage and title of the   home – when separation or divorce proceedings get underway, many wonder what   will happen with the home. When the marriage comes to an end, there are two obvious   options concerning the […]

Wondering where B.C.’s housing hot spots will be over the next few years? As Surrey residents, the Rajkowskis are living in what experts say is the Lower Mainland’s hottest real-estate market. Communities such as Clayton Heights, Cloverdale and Fleetwood are hot and expected to stay hot in the near future as buyers seek affordable housing […]

Here is a great video that explains not all lenders although there policy seems simular is the same when it comes to calculating the penalty. http://www.theglobeandmail.com/report-on-business/video/dont-get-stuck-in-the-mortgage-penalty-box/article18074696/#dashboard/follows/ The Angela Calla Mortgage Team looks to place your mortgage first provided you qualify with a lender whom does not use posted rates as their gauge. This will save you […]

CMHC is cutting the types of mortgage insurance it offers, meaning the era of tighter rules for homebuyers hasn’t come to an end. The Crown corporation said late Friday it will stop insuring mortgages on second homes, effective May 30th. Anyone who has an insured mortgage will no longer be able to act as a co-borrower […]

Putting your full faith in a mortgage preapproval is like betting on a heavy favourite in a horse race. You’ll probably win but there’s room for major disappointment. Sure, preapprovals have benefits: The best ones accurately measure your qualifications and how much house you can afford Their 90- to 120-day rate guarantees protect you if rates rocket […]

There are many factors being overlooked by the media frenzy focusing on how unaffordable real estate is these days.  Of course housing is more expensive than it was for our grandparents! Everyone has a similar family comparison of how a grandparent or aunt paid $50,000 for a home in 1954 and sold it for $600,000 […]

Many borrowers have been focused on the wrong details when it comes to their mortgage. It’s NOT all about the interest rate. To focus solely on the interest rate can be a costly mistake. The difference between 10 basis points (eg, 3.39% vs 3.49%) on a $350,000 mortgage is a savings of $556 in interest […]

The dream of mortgage freedom is less than 10 years away for 37% of Canadian mortgage holders, according to Scotiabank’s Mortgage Landscape Study released yesterday. More than two-thirds (68%) of mortgage holders have taken steps to pay off their mortgage faster, including increasing the frequency of regular payments (39%), increasing regular payment amounts (25%), and […]

Borrowers beware The 2.99% BMO five-year mortgage isn’t quite as good as it sounds. BMO’s recent move to bring its rate below the psychologically significant 3% mark for fixed-rate five-year mortgages is being treated as a big deal because a similar move a year ago provoked then Finance Minister Jim Flaherty to admonish the bank. Joe […]

  Here’s a great article from the Financial Post – this echoes what i’ve been saying over the past few months and is a reminder of why real estate needs to become more integrated into the conversation around financial planning and wealth management. http://business.financialpost.com/2011/04/06/a-secret-tax-shelter/ The Angela Calla Mortgage Team is here to help you review […]