Considerations When Purchasing Rental Property Purchasing a rental property has become more and more difficult for borrowers with the consistent rule changes from the federal government, mortgage insurers & banks over the last 5 years. Today, rental properties need a minimum of a 20% down payment. They can do this only if they debt service […]

4 Tips For The Best Mortgage Renewal  1. Do not sign the offer you get in the mail and just send it back, biggest mistake ever. Lenders are very strategic with when, how and why they contact you to suggest something, so it’s important to have a clear understanding of the entire landscape before signing […]

Brokers, are great consumer advocates. The service is free, they work without bias, and that transparency gives the consumer complete clarity to make an empowered decision. Here are 4 points to remember:  1. They each shop multiple options with one application. For the Mortgage Broker this has the added benefit of protecting your credit score. […]

@jbinvan: Another perk of a great mortgage broker! Thank for the free tix to @VanHomeShows So many ideas & great products 😊 @AngelaCalla #callateam   @deefontein: Had a wonderful time with my dad at @VanHomeShows thanks to the generous people with The Angela Calla Mortgage Team! @AngelaCalla #teamcalla

I wouldn’t hesitate to recommend the Angela Calla team to fellow first-time buyers. Plus, it doesn’t hurt that they were able to get me a decent rate as well. It’s not all about the rate; there are a number of other factors that make a good mortgage. Throughout the process of setting up my first-ever […]

Think a 21% interest rate sounds high. Try 24.99%. http://business.financialpost.com/2015/02/20/why-slipping-on-your-credit-card-payments-is-about-to-cost-you-big-or-bigger-bucks/ Credit card holders who miss two minimum payments will now get dinged with a higher interest rate on their next bill as Canadian banks begin to crack down on customers in arrears. Questions on positioning your mortgage application to get the best mortgage or consolidating […]

Canada’s largest private mortgage and lending institution Dominion Lending Centres (DLC) has announced that celebrated economist Dr. Sherry Cooper has taken the position of Chief Economist effective immediately.  Prior to joining DLC, Dr. Cooper was the chief economist with one of Canada’s largest financial institutions and is well versed in the mortgage sector.  “We are […]

Good Afternoon, It’s common for when a borrower is considering getting a mortgage for them to consider the bank as the best source, until they know a little more about how it can impact there financial future. When you deal with an AMP you get transparency, unbiased advice, choice AND the service is free. Here […]

When you write a contract to purchase a home, in the offer you’ll need to include a deposit amount, which you’ll agree to pay upon subject removal. This amount will then form part of the down payment upon closing.  This amount does NOT have to be a specific percentage of the purchase price – it […]