Good Morning,

No surprises here, prime remains the same. The full press release can be viewed here: http://www.bankofcanada.ca/publications-research/press-releases/

One of the most popular options being considered currently is a 10 year fixed term at 3.89%.  If your mortgage is coming up for renewal in the next year or you are a first time homebuyer who hopes to keep your residence as a rental when you move up the property ladder, here are 3 reasons why the 10 year is so attractive right now: http://www.angelacalla.ca/blog_post?id=6955&title=3-reasons-to-consider-a-10-year-fixed-term-today .

Getting your information in to us as soon as possible will protect you from rate hikes so you can optimize today’s low interest rate environment and you are not subject to timing where this offer could be withdrawn. We always review all the options that may be best suited for you.

This option was well suited for Bernadette of Surrey this week who quotes ” being on a fixed income and hearing about proposed mortgage renewal changes to qualifications was scary until I called Angela and her team. Knowing that I could have peace of mind for a decade makes me feel comfortable knowing I will not be subject to changes I cannot control. I am also comforted that I can bring this mortgage with me should I choose to downsize. Saving $427 dollars a month by having you review my mortgage and present me the 10 year fixed option sure helps me feel secure, even though you showed me options as low as 2.99%, there was no way I would put my future at risk. Thank you for all of your hard work, showing me all of my options and allowing me to choose the product that best suited my current and future needs”

If you or anyone that you care about has a rate over 4% and would like to save money on their mortgage, we are here to personally help and work towards making 2012 your best money saving year ever!

Contact us at: 604-802-3983 or acalla@dominionlending.ca

Always here to help, have a great week.

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

4 Essential questions you need to ask your mortgage provider when shopping for a mortgage

It’s important to ensure you’re working with an experienced professional mortgage planner carrying an AMP designation. Since this is the largest financial transaction of your life, you need partner with someone who is capable of properly advising you and troubleshoot any issues that may arise.

What questions do you ask? These questions must be answered precisely. If the “professional” hesitates or says something unclear, run to a true professional who can clearly explain the answers!

1. What are mortgage interest rates based on?

The ONLY correct answer is the Bank of Canada rate for variable rate mortgages and for fixed interest rates  mortgage backed securities, specialized mortgage bonds, or Government of Canada long bonds.

A professional mortgage originator should at a minimum know the basics of how interest rates are determined. If an originator has their eyes on the wrong indicators, or worse yet has no idea of what these indicators are, needless to say it’s the “blind leading the blind”. At the Angela Calla Mortgage Team, we consistently review these indicators and, therefore, you can be confident in our ability to suggest mortgage strategies upfront to manage your mortgage long term.

2. How will rising interest rates in the coming years affect me if I take a fixed-rate mortgage product?

Most lenders will say if you’re locked in you are protected, which is a MISTAKE. That’s a dangerous answer when you consider what will happen when rates return to more normal levels (an increase of 2%) as experience shows us that the average mortgage payment in that case will rise $300 a month.

This is referred to as payment shock and it’s very risky for your long-term financial health. Working with a mortgage professional who proactively manages your mortgage and notifies you in live time when rates change with a suggestion on how to minimize payment shock is not only smart, but it also saves you thousands of dollars and years off of your mortgage. The Angela Calla Mortgage Team will show you.

3. What strategy are you recommending and why?

 The key word here is “strategy”. If your mortgage professional can’t clearly articulate the strategy behind their recommendations to you, they’re simply quoting a rate, and frankly anyone can do that. On your largest investment, make sure you’re dealing with someone who has a solid financial plan that is considering your overall financial wellness.

4. What commitment are you giving me to personally manage my mortgage over the long term?

This is crucial. Many mortgage providers, especially bank personnel, have no desire or ability to proactively manage your mortgage over the long haul.

How can you take advantage of changing markets in the future if no one is watching them for you and all you get is information after it’s too late to benefit? Who will ensure you don’t miss an opportunity to renegotiate? If you’re considering a variable-rate mortgage, why would you do this with someone who’s not committed to keeping an eye on it and giving you information in real time to help you optimize the market and maximize your lifestyle?

At The Angela Calla Mortgage Team, the real job starts when your mortgage funds. Anyone can sell a mortgage, but only those truly committed mortgage professionals can manage your mortgage over the long term. With this long-term management approach, we can significantly reduce your total cost of homeownership and have strategies available when things in life don’t go as planned, isn’t that the point?

When you ask the right questions, you’re able to make educated decisions.

Fundamentals never go out of style.

With this being one of the most important and largest financial transactions, either for the first time or in the growth of your real estate portfolio, you may only do this 4 or 5 times in your life… we do this EVERY single day and have over a decade of experience both professionally and personally, and sit on the front lines of advisory boards for lenders, government bodies, insurers and media. It’s your home and your future. It’s our profession and our passion.

We are ready to work in your best interest. call 604-802-3983 or email us at callateam@dominionlending.ca today!

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

As heard on this weeks Mortgage Show on CKNW with Angela Calla Saturday May 12th 2012. 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:

http://rboies.mlslink.mlxchange.com/?r=1677000860&id=363434333136.312

Robert Boies
Royal LePage Coronation West
cell: 604 341 3009 t: willingtwo
E-mail: robboies@royallepage.ca
www.willingsellerwillingbuyer.com

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

A diligent saver who demonstrates the ability to put more money down should get the best mortgage terms, right?

This isn’t the case lately! Lenders are providing specials for mortgages that are insured because they can sell those loans and have more money to lend. If you have a larger down payment (20% or higher), you may be offered a mortgage rate that’s 10-50 basis points ($10-50 more per month on an average mortgage) as the lender doesn’t have as much flexibility to use that loan to leverage into lending more money to someone else.

When you do the math, you’re further ahead making a larger down payment. If you have the funds available, it’s great to be in a position to avoid the premium. If you’re looking to refinance, a premium would be considered if it allowed you to pay off high-interest debt using your accessible equity.

Three things to remember:

1. There are no freebies. Sound familiar? This notion always applies to your mortgage as “no-frills” rock-bottom rates always cost you somehow. The Angela Calla Mortgage Team works out all the scenarios for you to ensure the best mortgage strategy is in place, including the best rate.

2. The banks are passing down costs to consumers. Although making record profits, if banks’ costs go up, so will yours. The Angela Calla Mortgage Team is there for the life of your mortgage so we can proactively prepare your mortgage for you (which is a standard approach when we arrange your mortgage at no cost to you).

3. This makes the 10-year fixed-rate mortgage more attractive than ever. No one wants to be a victim to timing or policy change when your mortgage is up for renewal. And with these changes suggested over the next year, where banks may charge more when you owe and they may choose to re-qualify you at renewal and offer a higher rate if your situation is any different, the 10-year is a great way to put your mind as ease. For more about the 10-year fixed-rate mortgage option, visit:

http://angelacalla.ca/blog_post?id=6955&title=3-reasons-to-consider-a-10-year-fixed-term-today 

Remember: when you know better, you do better. The Angela Calla Mortgage Team is here to help you with the best mortgage strategy, education and guidance throughout the life of your mortgage. We’ll help you control what you can in the marketplace. We are not rate quoters – we are planners that believe in empowerment with knowledge as we represent the best options for our clients over the long term.

 Always here to help!

 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

Bad things can happen to good people. If opting for a consumer proposal or claiming bankruptcy is something you’re considering, you’ll want to ensure you understand all the risks this could have on your ability to get a mortgage (or keep one for that matter). You’ll want to ensure there is no other option in terms of refinancing your existing mortgage, working with your lender, looking at a different loan structure from a lender or borrowing from family before opting for a consumer proposal or claiming bankruptcy. As credit tightens up with Canadian lenders, you may not be prepared for how long the affects can last even after you have paid off your debts.

Here are three essential considerations if you intend to get a mortgage or have one and are considering either a proposal or bankruptcy:

1. Most lenders will want to see that it has been paid in full for six years before lending at the best rates for a purchase or refinance/renewal.

2. Your lender may not renew your mortgage even though you have never defaulted on your mortgage payments.

3. Even though a consumer proposal and bankruptcy are different by definition, lenders still view them the same when it comes to what they will offer borrowers.

If some borrowers really knew how a proposal or bankruptcy would have affected them in the first place, they may not have gone this route. The Angela Calla Mortgage Team is experienced in understanding the affects of all components within your financial health, and will help guide you through life changes with our proactive planning approach.

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

As heard on this weeks Mortgage Show on CKNW with Angela Calla. To get pre approved for this property or any other purchase email the Angela Calla Mortgage Team at callateam@dominionlending.ca or call 604-802-3983

This weeks deal of the week has been brought to you by:

http://rboies.mlslink.mlxchange.com/?r=319789016&id=363434333136.312

Robert Boies
Royal LePage Coronation West
cell: 604 341 3009 t: @willingtwo
E-mail: robboies@royallepage.ca
www.willingsellerwillingbuyer.com

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

As heard on this weeks Mortgage Show on CKNW with Angela Calla Saturday April 21st 2012. To get pre approved for this property or any other purchase email the Angela Calla Mortgage Team at callateam@dominionlending.ca or call 604-802-3983

This weeks deal of the week has been brought to you by:

http://rboies.mlslink.mlxchange.com/?r=1119650085&id=363434333136.312

Robert Boies
Royal LePage Coronation West
cell: 604 341 3009 t: @willingtwo
E-mail: robboies@royallepage.ca
www.willingsellerwillingbuyer.com

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

Good Morning,

No surprises here, prime remains the same. The full press release can be viewed here: http://www.bankofcanada.ca/publications-research/press-releases/

One of the most popular options being considered currently is a 10 year fixed term at 3.89%.  If your mortgage is coming up for renewal in the next year or you are a first time homebuyer who hopes to keep your residence as a rental when you move up the property ladder here are 3 reasons why the 10 year is so attractive right now: http://www.angelacalla.ca/blog_post?id=6955&title=3-reasons-to-consider-a-10-year-fixed-term-today .This option will not last long so getting your information into us as soon as possible will protect you from rate hikes so you can optimize todays low interest rate enviroment. We always review all the options that may be best suited for you.

If you or anyone that you care about that has a mortgage over 4% and would like to save money on on their mortgage, we are here to help personally and work towards making 2012 your best money saving year

Contact us at: 604-802-3983 or acalla@dominionlending.ca

Always here to help, have a great week.

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

Two aspects of my life that I really value include my health and wealth. As such, I fully appreciate professionals who take the time to give me advise based on verification – calculation as opposed to mere speculation.

For instance, if I’m not feeling well, I will describe my medical symptoms to my doctor and she will do the necessary diagnosis prior to recommending a treatment. She may have an idea of what’s wrong with me, but I could only respect and count on her advice after the results of the tests are back (such as blood tests, x-rays, etc). When those results are in, if there’s something my doctor wants to discuss further, I wouldn’t expect her to send me a quick email, write me a prescription, and then never follow up. So, this is an example based on calculation.

If you called your doctor and explained symptoms, and she just jumped to a conclusion and offered a treatment right away would you have confidence in her as a medical professional given that she based her recommendations purely on speculation? I know I wouldn’t!

In this age of the Internet and a quest for simplicity, when it comes to a mortgage it’s been noted that 8 out of 10 callers ask “What are your rates?” before they have provided the necessary information. You can’t base a mortgage professional’s qualifications based solely on a quoted rate! What’s more important than rate alone is finding out if the mortgage professional is going to devise a plan for you that will reduce the amount of interest you’re paying throughout the life of your mortgage – the best plan catered to your unique needs that will enable you to save the most amount of money.

Asking about rates as opposed to focusing on the bigger picture is like asking a mortgage broker to give you results before they’ve performed any “tests”. Would you ask that of your doctor? Would you want to know results based purely on speculation? And, even when the results are in, are we all educated to the same degree to understand our “test results”?

The 20% who think differently are always the ones who soar above the rest.

It’s always the different way of asking the question or a small shift that offers a big change and results in helping borrowers get ahead!

 Thanks for visiting

Angela Calla, AMP

Dominion Lending Centres-Angela Calla

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

E-mail: callateam@dominionlending.ca

Since there are many myths surrounding mortgage financing, I thought I’d help demystify the top 12 I come across most often!

1. Purchasing a home with a 5% down payment is only for first-time homebuyers.

2. Bi-weekly and semi-monthly mortgage payments are the same thing.

3. There is a fee for a mortgage broker (our service is free)

4. Shopping around on your own results in the best mortgage rate.

5. Every time I purchase a home I’ll have to pay the full mortgage insurance amount I paid on my first purchase.

6. Opting for a longer amortization is always a poor decision.

7. Mortgage terms and conditions are not as important as getting the best rate.

8. Paying property taxes with my mortgage means I don’t have anything else to do.

9. My bank has my best interest in mind.

10. I can buy a home before I sell mine and get “bridge financing” easily.

11. My parents will help me qualify for a bigger house.

12. I can roll all of my debt into my first home purchase.

 If you have any questions regarding these myths or would like some help to ensure the best possible mortgage for your goals and savings the Angela Calla Mortgage Team is here to help you directly.

Thanks for visiting

Angela Calla, AMP

Dominion Lending Centres-Angela Calla

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

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