General Angela Calla 23 Aug
Homeownership will continue to grow with the 24-35 year olds and transfer of wealth, says CIBC
Learn about your homebuying mortgage options with the Angela Calla Mortgage Team 604-802-3983
General Angela Calla 16 Aug
From a study conducted in Calgary:
Please note: we didn’t write or contruibute to the survey, just sharing it with you!
2.1 benefits to homeownership
Through a combination of literature review and key person interviews, the following benefits to homeownership were identified:
· homeownership is a major contributor to financial security and wealth creation for individual households;
· homeownership is also an important contributor to a community’s economic growth;
· homeownership has positive impacts on personal well-being, fulfillment, self-esteem, sense of control and stability;
· homeownership plays a role in improving the neighbourhood and community quality of life;
· promoting greater income equality through homeownership can contribute to improved population health;
· children of homeowners do better in school and are more likely to complete their schooling (scholastic performance has more to do with household stability, a sense of belonging and family values around education and it does improve I.Q.);
· children of homeowners are more likely to become homeowners themselves;
· homeowners are more vested in the interests of the community in which they live and more concerned about what goes on around them;· homeownership offers legitimacy to people, allowing them to speak out and have an opinion about what goes on in their neighbourhood and community;
· homeowners are more likely to participate in community life, get involved in local activities, and are more likely to know their neighbours and their neighbourhood;
· homeowners are more likely to vote in local, provincial and federal elections than renters;
· public efforts to increase access to individual homeownership have greater impacts among low-income households than among higher-income households; and
· When low-income renters become homeowners, there is a shift in thought processes, attitudes, and level of responsibility. People shift from being clients of social services to being partners in their communities.
To become a homeowner today learn about your options from The Angela Calla Mortgage Team 604-802-3983 callateam@dominionlending.ca
General Angela Calla 15 Aug
Reviewing your mortgage annually with the right plan will ensure you are not paying more than required on your mortgage and outside debts and stop the cycle of no saving.
Contact Angela Calla Mortgage Team Today 604-802-3983 callateam@dominionlending.ca
Courtesy of CBC
A new poll for one of Canada’s big banks says 45 per cent of those surveyed said they had no fund set up to deal with emergency expenses.
The poll of about 2,000 Canadians was conducted in March and April for CIBC by Harris/Decima.
Ontario and Alberta residents were the least likely to say they had an emergency fund set up — 53 per cent of respondents in each province.
At 60 per cent, British Columbia residents were the most likely to say they have funds set aside for critical, unexpected expenses.
Quebec and the Prairie provinces of Manitoba and Saskatchewan were also above the national average, tied at 57 per cent.
Atlantic Canada was right on the national average, with 55 per cent of respondents in that region saying they had set up an emergency fund
General Angela Calla 15 Aug
It’s no surprise that when you are stressed finacially, your health suffers.
Start with a mortgage review to ensure you are not paying more for your mortgage and outside debts than you need too. Talk about a good holistic approach!
Read more here http://www.cbc.ca/news/health/story/2012/08/10/health-income-cma.html
Contact Angela Calla Mortgage Team 604-802-3983 callateam@dominionlending.ca
Host of The Mortgage Show on CKNW AM980 Saturdays @ 7pm
General Angela Calla 15 Aug
Two B.C. cities are tops on a list of Canada’s investment hot spots, according to a recent report from Business Review Canada.
The review broke down Canada’s regional economies by province, and then dug deeper to find emerging markets in small to mid-size communities ripe with opportunity for investors.
When the dust had settled, the B.C. communities of Maple Ridge & Pitt Meadows, along with Surrey, came out on the top of the ranking. They share the honour with Red Deer, Alta., and Barrie, Ont., also named among the most desirable communities to purchase investment properties.
Maple Ridge & Pitt Meadows is noted for both its commercial and residential investment potential. The Translink/Gateway Project is underway, a move which will improve transit and infrastructure, making it a popular new choice for residents and businesses looking for close proximity to Vancouver.
Surrey is also touted as a city with enormous potential, expected to eventually trump Vancouver as the largest city in the province.
Surrey, in fact, attracts some 1,000 new residents each month, while its bustling public transit, green parks, two border crossings and active local economy also strengthen its appeal for investors, according to the report.
Red Deer, Alta., is praised for its mix of business and pleasure opportunities as well as its solid economy. Situated between Calgary and Edmonton, the city’s rental market is booming. Barrie also made the cut on account of its recent growth as both a residential city and a vacation destination.
General Angela Calla 15 Aug
As heard on this weeks Mortgage Show on CKNW with Angela Calla Saturday Auguest 18th 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:
Robert Boies
Royal LePage Coronation West
cell: 604 341 3009 t: willingtwo
E-mail: robboies@royallepage.ca
www.willingsellerwillingbuyer.com
Buy this home with 5% down payments approx $1200 a month*oac and rental income will cover most! http://rboies.mlslink.mlxchange.com/?r=825280239&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
General Angela Calla 8 Aug
Now that we have you approved for a mortgage, I wanted to share with you some vital information to ensure your financial picture doesn’t change. This will help prevent any hiccups when it comes to your purchase/renewal or refinance completion. This is just a regular part of The Angela Calla Mortgage Team’s commitment to keeping you informed throughout the life of your mortgage.
Since the following would have a direct impact on your approval, we advise you to adhere to the following advice:
1. DON’T Change employers, jobs or income type.
2. DON’T Have any other credit checks conducted, including those through banks, department stores and credit card companies.
3. DON’T Get any new loans, credit cards or “don’t pay until…” offers, buy a new car or spend to your limit on your existing loans, lines of credit or credit cards.
4. DON’T Closeout active accounts.
5. DON’T Get into any disputes that will result in collections (i.e. unpaid parking tickets, cell phone bills, hydro, etc).
6. By all means, DON’T schedule a vacation 2 weeks prior to the date of the completion of your mortgage with any of the parties involved in the title!! Take a holiday after. Lenders and lawyers can request things last minute that you will be required to provide or handle. Save the trip for after the completion. If you do choose to take a trip, don’t expect things to go smoothly!
7. PLEASE Disclose the shape of your property upfront. It’s not ok to have your home gutted or extensive renovation and expect that an appraiser or lender will notice and be ok with it, it will likely impact your value and the approval.
8. DON’T make changes last minute to the amount, date or term. This is the biggest way to cause a problem. It is a big deal to get everything through all the powers at be that need to approve these changes. It’s not a simple click of a mouse. Keep in mind all conditions must be met 10 business days prior to your completion date and changing anything can add to the interest cost in most cases.
9. At times people get married or divorced and have changed their name or forgotten that they previously had a co-signer on their mortgage. This will require some legal changes that will have an added expense to your legal fees and change all the paperwork delaying your process if you didn’t note it in the INITIAL mortgage application.
Some of these may sound like “common sense”, but we’re sharing experiences from real scenarios that we’ve encountered and learned that not everyone thinks about how simple changes can affect their approval.
Angela Calla is an 18-year award-winning woman of influence which sets her apart from the rest. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages.
In August of 2020, at the young age of 37, Angela surpassed $1 Billion dollars in funded personal mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.
Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.
General Angela Calla 8 Aug
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Dominion Lending Centres is proud to announce the launch of EnRICHed Academy’s “Smart Start for Financial Genius”! This program has been designed to educate young adults (13-23) and their families on the fundamentals that build wealth in an entertaining, funny and entirely interactive way. No program like this currently exists, and the need and demand across North America is at an all-time high. This is our way of giving back to communities across Canada, ensuring our youth embrace financial literacy. Click here to view the EnRICHed Academy trailer on YouTube. Why we created EnRICHed
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What EnRICHed looks like The program comes in a box and contains 5 DVDs of entertaining but highly educational video on creating a foundation for building wealth. There is a 100-page workbook that the family will work through that includes activities and exercises as well as other materials that correspond with the topics covered in the program. 15 key topics covered by EnRICHed
Feel free to give me a call or send me an email if you’d like to learn more about EnRICHed Academy. Angela Calla 604-802-3983 callateam@dominionlending.ca |
General Angela Calla 7 Aug
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A good credit report and credit score are important factors in determining whether you will be approved for a mortgage. Following are some simple steps you can take to maintain a good credit history and improve your chances of being approved. What is a credit score? Checking your credit score For a fee, these agencies will provide you with an online copy of your credit score as well as a credit report – a detailed summary of your credit history, employment history and personal financial information on file. You can also obtain a free copy of your credit report by mail every year. If you find any errors in your report, notify the credit-reporting agency and the organization responsible for the inaccuracy immediately. Credit history |
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and responsibly using – a credit card. Your financial institution or mortgage professional can help. Boosting your credit
Once your credit score has improved, work with your mortgage professional to obtain a mortgage that works for you. To find out more about credit scores and reports, visit the Financial Consumer Agency of Canada website at www.fcac-acfc.gc.ca and download or request a free copy of their guide, Understanding Your Credit Report and Credit Score. This guide provides practical, straightforward information on how to obtain and understand your credit report and score, as well as how to build and maintain a good credit history. Questions on your credit and mortgage options? Contact Angela Calla Mortgage Team 604-802-3983 callateam@dominionlending.ca |
General Angela Calla 7 Aug
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Canadians seeking a sure-fire investment return should look no further than their mortgage. Paying it down as quickly as you can will, in most cases, result in a stellar return on your investment. Mortgages are front-loaded when it comes to interest meaning, in the early years, most of the money you pay goes toward paying the interest on the amount you borrow as opposed to the principal. For instance, if you borrow 95% of your home’s value, you’re paying $3 of interest for every $1 of principal you pay. So, by paying an extra $1 of principal, that’s $3 less you’ll have to pay in interest, at least in the early stages of a mortgage. Range of prepayment options Most lenders allow you to make a lump-sum payment of anywhere between 10% and 25% of the value of your mortgage per year. The lump-sum payment is based on either the original amount you borrowed or the amount currently outstanding. Since mortgages decrease with each payment, it’s best to negotiate a lump-sum payment option based on the original amount you borrow. That way, if you come into an inheritance, a big bonus or save a large sum of money, you can pay down the largest amount possible. |
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Another factor to consider is when you can make a lump-sum payment. Some mortgages allow prepayments during the year, while others permit it only on the anniversary date. Still others allow you to make prepayments on the day you make your regular payment. If you can’t pay the maximum prepayment amount, it’s still worth your while to at least make some extra payment, even if it’s a few thousand dollars each year. That will still save you thousands of dollars in interest payments. Another prepayment option involves taking advantage of flexible payments. Most lenders allow you to increase your regular payment up to a set maximum, such as 15%, while others allow you to double up your payments. If, for instance, you have a $1,000 per month mortgage payment and increase it by 15% to $1,150, you could shave off as much as five-and-a-half years on a $200,000 mortgage. You can also pay off your mortgage faster by moving to a different payment schedule. Instead of making monthly payments, make them biweekly or even weekly. Using an accelerated mortgage – where you make payments every two weeks as opposed to twice a month – you actually make one extra payment in the calendar year. By paying more and paying faster, you reduce your principal earlier, which lowers the amount of interest you pay. Another option is to round up your mortgage payment from, say, $766 to an even figure such as $800, because any extra little bit goes toward the principal. As always, if you have any questions about paying off your mortgage faster or about your mortgage in general, I’m here to help! Angela Calla Mortgage Team 604-802-3983 callateam@dominionlending.ca |