Courtesy of Mortgage Broker News Jan 20th 2014 TD has altered the fine print in its VRM contracts for conventional mortgages – specifically around when a spike in LTV triggers demand for  a lump-sum payment or a new appraisal. Under the terms of the new clause, if, at any time and for any reason, the […]

Whether it’s your first time or your fifth time, shopping for a mortgage can often be confusing and even frustrating. Besides, who really has the time to research and compare mortgage lenders to ensure the best deal? Then there are all those crazy terms and acronyms — beacon scores, LTVs, IRDs and porting – it […]

1 Home Buyers’ Plan Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time. Canada Revenue Agency www.cra.gc.ca Enter ‘Home Buyers’ Plan’ in the search box. 1.800.959.8287 […]

Its important to review you mortgage and outside debts to see if there is better structure that can have you saving money monthly to become debt free while planning for retirement. http://m.theglobeandmail.com/globe-investor/personal-finance/paying-down-debt-remains-top-financial-priority-of-canadians-poll/article16183098/?service=mobile To see if we can help you find the money in your mortgage contact The Angela Calla Mortgage Team at 604-802-3983 or callateam@dominionlending.ca

High-income earners may be better off holding fixed income outside their tax-sheltered accounts, for now. http://www.moneysense.ca/invest/asset-location-do-low-interest-rates-change-the-rules Looking for options for a downpayment and want to review the best mortgaeg structure for your income tax bracket? Contact the Angela Calla Mortgage Team at 604-802-3983 or callateam@dominionlending,ca

Woman are a powerhouse, according to the new stat’s from CMHC (as if we needed confirmation 🙂 Amoung people whom live alone, 65% of them are single woman! To see the full story and recent stat’s click here :http://business.financialpost.com/2013/12/18/canada-condo-market/ To review your options to purchase and get the lowest cost of homeownership contact The Angela Calla Mortgage […]

 Starting in 2010, lenders had to ensure that borrowers getting variable or 1- to 4-year fixed mortgages could afford payments at the 5-year posted rate. That rule applied to mortgages with less than 20% equity.   In 2012, OSFI asked federally regulated lenders to apply the same rule to all variable and 1- to 4-year […]

The Bank of Canada should keep its key interest rate on hold until economic data persuades it otherwise, Central Bank Chief Stephen Poloz said on Tuesday, adding that he was not worried about calls from some international players to tighten policy.  His comments follow controversial remarks by Canada’s finance minister on Sunday suggesting there would […]

A lawyer and respected real estate veteran is offering a fresh warning for those enlisting the help of family members for a down payment – a word of caution brokers should share with all first-time buyers and, indeed, their parents. “If the parents try to transfer the 1 per cent back to the kids without […]

The Angela Calla Mortgage Team reported on this back in April and here it is again in The Globe & Mail. The story in the link provided below contains great details and a side by side comparison where there is over a $3,000.00 difference in savings. This goes to show you there is more behind choosing a […]