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Lenders and How a Mortgage Professional can help you avoid a $30,000 Penalty

General Angela Calla 1 Jun

As an independent mortgage professional, I grow more and more grateful for the opportunity to help our clients get the best mortgage (without bias and while protecting their credit score) when I hear unfortunate stories like Kristina’s. Read it here.

When Kristina Barybina’s income quickly dried up due to this pandemic she knew there’d be a penalty for getting out of the mortgage early – she just wasn’t expecting it to be almost $30,000.

7 out of 10 Canadians will break their mortgage prior to renewal – I can give you a long list of reason’s why, however, let’s try to keep this brief. People often say, “It doesn’t matter, I’m not going to need to sell” or “I am never going to have to break my mortgage”.

The lenders noted in this article are fantastic lenders, ones that we use when its warranted to do so and in the best interest of the client. Some Canadians can qualify for a better mortgage that does not have posted rates and results in a MUCH lower exit penalty. Those who have a higher penalty may not have been able to qualify for a mortgage with these lenders.

Hopefully, if you are reading this, you will want to verify which lenders you can qualify for to protect yourself and those you love by consulting with us.

Today is evidence that NOBODY can predict the future so IF you can qualify for a better mortgage through a monoline lender ONLY accessible by an INDEPENDENT mortgage professional, why would you sign on to pay more?

We go over this and the why behind everything mortgage in my book The Mortgage Code.

Angela Calla is a 16-year award-winning woman of influence mortgage expert. Alongside her team, passionately assisting mortgage holders get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from all sales will be donated to Access Youth Outreach Services. Angela can be reached at or 604-802-3983.