1. We are licensed, trained professionals governed by a licensing body that requires us to continue our education to ensure we stay on top of the market-working in your best interest.

2. Banks can only sell you their products. Bankers and “mobile mortgage specialists” are employees of a bank and are paid by that bank for selling the bank’s products. We are independent professionals. We have access to hundreds of products from dozens of banks and lenders. The lender pays us a finders’ fee for bringing them business, but we only place you with the best available product.

3. We protect your credit. We only use one application to shop all the lenders. If you shop on your own, however, a new credit report is required for every lender you approach. This pulling of multiple credit reports can negatively impact your chances of receiving the best possible rate.

4. We have your best interests in mind throughout the mortgage financing process and over the long term. We look for the best solution for YOU to become mortgage-free faster, as opposed to turning a profit for the banks.

5. We are proactive. We continually educate you on how and when to take advantage of the market. We build a plan so you know how we’re planning to stay in touch (IHS Protection from Payment Shock, Market Optimization and Debt Restructure, just to name a few). A borrower operating lender direct, in most cases, is only going to get the best solution that is most profitable/beneficial for the lender. Don’t be upset by this – it’s their job! When borrowers know better, they can do better! Ask yourself this: when was the last time your provider followed up suggesting a way for you to save money (and them to make less)? Can you say with absolute confidence based on results there is a specific plan in place from your lender for you to use the market to your advantage? Are you confident you didn’t miss any money-saving opportunities?

6. We offer a vast selection of mortgage products. Having access to multiple lenders, we know the ins and outs of all of their offerings and restrictions. Why make the process frustrating for yourself? Our service is free!

7. We provide timely information. When there’s a change in the market, we can execute a plan faster due to our extensive financial education – not only of products, but also the market, government and insurer changes, and so on. Have you ever heard the saying: “It’s all in who you know”?

8. We understand the entire home-buying and mortgage-financing processes. Most lenders have layers of staff with different knowledge and oversight capabilities. As your mortgage originator, we oversee dozens of people on your behalf right up until your mortgage is funded.

9. We don’t sell you products that are more profitable for the bank. We see borrowers receive bad advice from lenders all the time. For instance, they take a short-term borrowing solution. These generally come at higher rates with no amortization and people fall into debt traps as a result. This is because part of bankers’ goals/target reviews and opportunity for advancement are based on cross-selling products that are more profitable for the bank.

10. We are here for the long haul – this is our career. Have you ALWAYS dealt with the same people at the bank? Some, yes, but most people find that bankers change departments and relocate often. And those people are not always replaced with bankers who have a level of knowledge that should be prudent when dealing with your LARGEST debt – your mortgage. Consider the change of a doctor or dentist. You want long-term, and when you have a good one and they retire, usually it’s a disappointment if they were great at their trade! That’s the type of relationship we strive to build with our clients!

11. We are transparent. This should be most important to ANY borrower. How can someone who is getting compensated from their employer – who only had access to 1-3 products on average – be expected to know they have the best solution for you, when there are over 100 out there AND they change DAILY??!!

We’re not saying the banks are bad. Thank goodness we have so many wonderful lenders to choose from to compete for your business! We simply want to point out the differences so borrowers can understand what’s important to them when making a an educated decision. We don’t want you to have to learn the hard way, as we often see borrowers after they’ve been to their bank and have to help them correct their situations.

Angela Calla, AMP

Dominion Lending Centres-Angela Calla

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

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

Email: acalla@dominionlending.ca

www.angelacalla.ca

Knowledge is power and at The Angela Calla Mortage Team when you are our client we have a plan in place to help you understand the market and optimize it accordingly. In case you couldn’t read the font in the article, I typed it out below my quote on the bottom of the page for you.

Enjoy and we are here to help you directly at callateam@dominionlending.ca 604-802-3983

Today’s Low Rates are a gift. But if they’re not utilized properly, you may be faced with payment shock when your mortgage renews at more normal levels. Those who take advantage of today’s low rates to pay their mortgages off faster are typically those who take advantage of the free services provided by their mortgage professionals to create individualized plans. If you understand your own habits, it’s easier to set yourself up for success. If you’re not diligent about saving, for example, it’s important to acknowledge that you’re going to benefit significantly from setting up your mortgage right the first time.

As heard on The Mortgage Show on CKNW with Angela Calla. 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

http://rboies.mlslink.mlxchange.com/?r=851053801&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

The Change

Conventional mortgages now to be underwritten using benchmark rate*

Five-year variable rate conventional mortgages  or conventional mortgages with terms less than five years now require that the borrower qualify based on the greater of the Bank of Canada five-year benchmark rate (the series V121764) or the contract rate applicable to the term chosen. For terms of five years or more, the qualifying rate is the contract rate.

example: contract rate or lower term special from lender 2.99 new qualifying rate 5.24% ***

The Affect

This means if you take a term for less than 5 years or choose a variable rate is that you will qualify for less home (but lets get real no less than you would havein 2007 when rates were just below 6% fully discounted)

The Angela Calla Mortgage Team is commited to keeping you informed so when you hear of a change you will understand the affects right away! Questions? Contact us 604-802-3983 callateam@dominionlending.ca

Angela Calla, AMP

Mortgages are more than just rates. The Angela Calla Mortgage Team uses the following long-term plans
to help you use your mortgage to create a better life:

1. Inflation Hedge Mortgage Strategy
This is being used by thousands of Canadians and, most important, clients under our mortgage
management who have a mortgage arranged with the Angela Calla Mortgage Team. This results in you
paying the least amount of interest and places more money in your pocket – making you mortgage free
sooner!
Banks hate it – that’s why it’s my favourite 🙂

You will learn terms like:
future payment shock; inflation adjustments; and equity protection, and learn how to be protected from
increasing interest rates.

2. Building Futures Plan
What ifthe proper mortgage structure could result in a large annual Government return? If you have
more equity in your home as a result of this plan, you are in more control of how quickly you move up
the property ladder, and will retire with positive cash flow. The equity in your mortgage will pay you,
This is a secret that the ultra wealthy have known for years.
But this program is available for the average family, and only a few banks offer this product. The Angela
calla MortgageTeam can identify if you are a candidate to help you always find the most amount of
money in your mortgage
-to ensure your mortgage is always working for you.

3. Debt Repositioning Analysis
Consumer debt is the number one concern among Canadianstoday. Everyday a new report is released
that suggests most canadians with the proper mortgage review and management can save on average
$500 a month by repositioning their debt into their mortgage. The Angela Calla Mortgage Team has the
tools, expertise and plan in place to make sure you are always best positioned for the life of your
mortgage – and this includes debt management
– as a courtesy for doing business with us. We are passionate about helping you create the best possible
life.

We look forward to showing you how we can get these plans working for you by building a strategy
together that addresses your unique needs

Angela Calla Mortgage Team

Phone: 604-802-3983 email: callateam@dominionlending.ca

Tips to Keep in Mind Between Your Mortgage Pre- Approval/Review of Options till Funding Dates

In light of the new market realities and tightening of credit underwriting standards by both lenders and mortgage default insurers as of late,  keep in mind that now – more than ever – it’s important to be careful what you do between the time your mortgage is approved and when it funds. 

A few mortgage lenders and insurers have been doing something lately that they have not done in a long time – pulling new credit bureaus prior to funding, especially if there is a long period between the time of your approval and when the mortgage actually funds.

Following are eight tips to keep in mind between your mortgage approval and funding dates:

1. Don’t buy a new car or trade-up to a more expensive lease.
2. Don’t quit your job or change jobs. Even if it’s a better-paying job, you still are likely to be on a probationary period. If in doubt, call your mortgage professional and they can let you know if this may jeopardize your approval.
3. Don’t change industries, decide to become self-employed or accept a contract position even if it’s within the same industry. Delay the start of your new job, self-employment or contract status until after the funding date of your mortgage.
4. Don’t transfer large sums of money between bank accounts. Lenders get especially skittish about this one because it looks like you’re borrowing money. Be ready to document cash transactions or money movements.
5. Don’t forget to pay your bills, even ones that you’re disputing. This can be a real deal-breaker. If the lender pulls your credit bureau prior to closing and sees a collection or a delinquent account, the best you can hope for is that they make you pay off the account before they will fund. You don’t want to have to scramble to pay off a debt at the last minute!
6. Don’t open new credit cards. Again, just wait until after your funding date.
7. Don’t accept a cash gift without properly documenting it – even if this is from proceeds of a wedding. If you have a bunch of cash to deposit before your funding date, give your mortgage professional a call before you deposit it.
8. Don’t buy furniture on the “Do not pay for XX years plan” until after funding.  Even though you don’t have to pay now, it will still be reported on your credit bureau, and will become an issue – especially if your approval was tight to begin with. While you may not risk losing your mortgage approval because you have broken one of these rules, it’s always best to talk to your mortgage professional before doing any of the above

Angela Calla Mortgage Team

callateam@dominionlending.ca 6t04-939-8777

8 Benefits of working with The Angela Calla Mortgage Team

1. 1.       We are independent, unbiased mortgage experts who use our experience in shopping multiple lenders to result in the best long term approach for your needs, keeping in mind your future goals.
2. 2.       We protect your credit score by using one application to shop the best suited lenders, whereas, if you had done this on your own; it would affect the options available to you.
3. 3.       Our service is free, as we get compensated equally regardless of where we place your mortgage.
4. 4.       The consulting we provide is for as long as you have a mortgage; we are continually looking for ways to optimize the market to minimize the interest you pay on your mortgage.
5. 5.       We place billions of dollars with the lenders where the average consumer may only place a few mortgages in their lifetime; this is our passion and profession.
6. 6.       With our team being on advisory boards for lenders, insurers and government bodies, we are in the front line of the industry, which allows our clients to benefit from knowledge first, in real time, giving you the ability to be proactive.
7. 7.       Everyone on our team is qualified to help you, so when it matters most to you, your questions are addressed quickly and properly. We maintain that with our own personal experience, our expertise is used to help you in the same manner as we would for our own mortgages and for those for our families.
8. 8.       We provide continuous education through our radio program, blog, newsletters, realeases, facebook pages and personal contact and scheduled follow-up.

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

Just sit back and do nothing. It doesn’t sound like the most proactive advice when it comes to the housing market, but it may just be what everybody needs to hear.

Panic is the worst thing that could happen because when that mentality sets in and people become irrational, it’s hard to forecast how low prices will go, says Benjamin Tal, Deputy Chief Economist at CIBC. He’s among the many who predict that prices will fall but by a moderate level that does not resemble the US crash.

“There is nothing to fear but fear itself,” says Tal, paraphrasing the famous quote from US President Franklin D Roosevelt before his election. The economist’s worry, and that of others, is that we’re now talking ourselves into a housing crash by creating a scenario in which every new statistic is interpreted in the most negative way with an eye on trying to constantly compare the Canadian housing market with what our neighbours to the south experienced just before their housing prices plummeted by as much as 50% in some markets.

A study this summer by Environics Analytics WealthScapes found the average net worth of a Canadian was $363,519, with $269,024 of that figure the net equity in real estate.

Click here for more from the Financial Post.

To learn your mortgage options contact Angela Calla Mortgage Team 604-802-3983 callateam@dominionlending.ca

According to the first BMO Housing Confidence Report released yesterday, nearly half of Canadian homeowners (46%) intend to buy a property in the next five years, signalling a high level of confidence in Canada’s housing market.

A modest increase in prices, however, would derail plans to buy; meanwhile, three-quarters (72%) of households would feel a significant strain if they were to experience a modest increase in monthly mortgage payments, such as one caused by an increase in interest rates.

The report reflects the sentiment of Canadian homeowners after the new mortgage regulations introduced by the Federal Government came into effect in July 2012.

“The fact that 46% of Canadian homeowners intend to buy a property in the next five years implies that Canadians are feeling confident in the current real estate market environment,” said Martin Nel, Vice President of Lending and Investments, BMO. “However, that certainty is tempered, given the adverse effect moderate increases in home prices and mortgage costs would have on the average homeowner.”

Click here for more results from BMO.

To learn about your mortgage options contact Angela Calla Mortgage Team 604-802-3983 or callateam@dominionlending.ca