Calling all prospective First Time want to be HomeOwners, Newcomers, and Realtors!

General Angela Calla 20 Nov

I hope you’re talking about the First Home Savings Account (FHSA)!

If you and your partner each open a First Home Savings Account (FHSA) and contribute the maximum contribution amount for 2023 of $8,000, you’ll receive a $16,000 tax deduction that you can use to reduce your taxable income. Don’t delay!  Not opening one this year will loose the contribution room.

When you buy your first home, you’ll be able to withdrawal your entire FHSA balance tax-free and not be required to repay any withdrawals like you would when using a Home Buyers Plan (HBP) through a Registered Retirement Savings Plan (RRSP).

If you don’t end up buying a house? No problem, you can roll your FHSA balance into your RRSP and not pay any taxes or fees.

Regardless if you’re buying your first home next week, next month or next year, our office would love to share more information on how a FHSA can help you accomplish your goal of buying your first home. 🙋🏼‍♂️🏡

Let’s make sure we elevate financial literacy for our fellow Canadians

Email: angela@countoncalla.ca

 

Angela Calla is an 19-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 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.

Click here to view the latest news on our blog. 

Client Appreciation Movie Night – November 9, 2023

General Angela Calla 20 Nov

We had the best time taking over the entire 3 theatres and having a cozy movie night with some of our clients that could make it out. My heart ❤️ is so full to be able to share a flick, some laughs, hugs and appreciation to be a part of our mortgage family. Going into my 20th year in business, I lead with my heart and love to share doing my favourite things together.  From food, to movies and events! Other fun facts about the evening because we have the coolest clients ever: Pizza Peels are used as paddles in some circumstances 🤣 and we even got to be the first movie one of our clients ever got to go to. One thing I missed we all had a good laugh about is I did not sing the Anthem to welcome everyone into the theatre 🎭 🤣🤣

 

Angela Calla is an 19-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 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.

Click here to view the latest news on our blog. 

Time for a Financial Plan Review

General Angela Calla 16 Nov

Here are the 4 top benefits we have seen our mortgage clients gain from it these past few months.

1.            Finding the Money without making any investments but simply moving existing investment funds to the right place.  We had a client that went from having to pay taxes, to getting a refund! They used this to pay down their mortgage being subject to higher rates upon renewal, the balance will now be reduced, helping them achieve freedom sooner and lower future payments.

2.            Lower Insurance Costs I did this myself in the summer savings an extra $1,200.00 per year and got more coverage! 

3.            Getting Grants Set Up Properly opening of a First Home Savers Account gives you the full benefit allowance to carry forward to help buy your first home any First Timer who hopes to buy in the next 15 years using this new Federal Grant available. That is only one example, our planning partners have been able to help our clients obtain years of disability tax credits they didn’t know they had access to, in most recent months a $10,500.00 lump sum was paid to one of our mortgage family clients which helps if you or your children have a disability. We leaned most people who qualify for this let the money go unclaimed as they get no guidance.

4.            When Doing A Creation/Review of a Potential Plan for a client who was up for mortgage renewal living paycheck to paycheck with nothing being able to be saved for retirement they learned they had a transferrable pension from a previous employer over 10 years ago for over $50,000.00 that they would lose the option to transfer after by their 55 birthday which was quickly approaching, thankfully that was able to be obtained to maintain its value and in the hands of the individual to now save for retirement.

To have an introduction kindly email callateam@countoncalla.ca with the best phone number to reach you at and we will have them reach out to you directly.

Angela Calla is an 19-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 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.

Click here to view the latest news on our blog. 

Should you refinance your mortgage with todays high rates? 

General Angela Calla 20 Oct

Should you refinance your mortgage with todays high rates?

Refinancing your mortgage can be an excellent way to pay off high-interest credit card and other consumer debt, improve your household cash flow, complete projects/home renovations, contribute to your retirement plan or children’s education, and many other purposes.

We have dedicated ourselves to education over the last 20 years as Canadians prior to understanding the true cost of borrowing believed rates should be the primary focus, but not the be-all-end-all, and does require some perspective.  I write all about this in my book, The Mortgage Code – that can be purchased here on Amazon or Audible.

We had one client when purchasing the family home say “I’d sell my mother-in-law to save an extra 0.25% on my mortgage rate.”

However, after 5 or 10 years of being a homeowner, there are almost always unforeseen expenses such as, but not limited to, kids, pets, repairs, family, bills, and the list goes on and on and on.   When you are facing high consumer credit card balances and interest rates, we will argue that cash flow becomes the top priority and not the mortgage interest rate.  While mortgage rate will always be a factor, it becomes less and less important.

In 2023, inflation and rising interest rates have put so much pressure on household budgets (especially if you have a variable or adjustable rate mortgage).

If your home has increased in value and you have enough equity in your property, you may be able to consolidate all of your debt into a new mortgage and help your household cash flow.

Keep in mind, that there will be costs associated when refinancing your mortgage.

1.  Your existing mortgage will most likely have at minimum a 3-month interest penalty

2.  There may and most likely be a legal cost to re-register the mortgage.

3.  An appraisal may be required

4. Long-term interest costs.  In most refinances, more time will be added to the mortgage, the mortgage payment will increase to accommodate all of the debt payouts and the long-term interest cost will also increase.

You will need to weigh the costs and the benefits to see what is right for your own personal situation.  However, if you can free up $1,000 – $3,000 per month in household cash flow, it could be a real benefit to your family and their lifestyle.

Contact us directly to learn what is possible and specifically applicable to you.

Example of current rates *OAC:

5-year fixed insured: 5.39%

5-year conventional: 5.94%

5-year variable Insured – 6.30%

HELOC:  Prime + 0% or 7.20%

image0.jpeg

Angela Calla is an 19-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 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.

Click here to view the latest news on our blog. 

Speaking Engagements – Angela Calla Mortgage Team

General Angela Calla 18 Oct

This October The Angela Calla Mortgage Team was speaking with a group of lawyers whom areas of practice range from

Real Estate Conveyancing, Family Law, Wills & Estates and Corporate Law

In this high level overview of our everchanging economic market we discussed

How lenders determine and offer interest rates

What the difference is among lenders and how that impacts borrowers long term

How those who are Navigating Divorce can find better solutions and work on what matters for there future qualifications.

How Self Employed Canadians don’t have to put purchases on hold and are ready sooner rather than later with the right mortgage product, and math breakdown.

How Debt Consolidation benefits borrowers cashflow

How a Reverse Mortgage can best to utilized as a wealth building and protecting tool, to navigate divorce, help children, help business owners, and cover healthcare needs while

Why Mortgage Insurance s offered from lenders, broker and planners and how they differ. Also its usage with Buy & Sell Agreements and review in Divorce /Estate Planning

What the banks agenda is with certain offerings vs actual consumer value.

Private Mortgages, when should someone not take them, or when should they.

If you are a professional firm who advises clients on any of the above, please reach out to us directly for educational opportunities for the clients you support to improve the financial literacy of our community

 

Angela Calla is an 19-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 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.

Click here to view the latest news on our blog. 

Canadian Inflation Dips to 3.8% Keeping BoC On The Sidelines

General Angela Calla 17 Oct

Good News On the Inflation Front Suggests Policy Rates Have Peaked

Today’s inflation report for September was considerably better than expected, ending the three-month rise in inflation. Not only did the headline inflation rate fall, but so did the core measures of inflation on a year-over-year basis and a three-month moving average basis. This, in combination with the weak Business Outlook Survey released yesterday, suggests that the overnight policy rate at 5% may be the peak in rates. While I do not expect the Bank to begin cutting rates until the middle of next year, the worst of the tightening cycle may well be over.

Offsetting the deceleration in the all-items CPI was a year-over-year increase in gasoline prices, which rose faster in September (+7.5%) compared with August (+0.8%) due to a base-year effect. Excluding gasoline, the CPI rose 3.7% in September, following a 4.1% increase in August. Looking ahead to the October inflation report, the base effect for headline CPI is favourable, as CPI surged in October 2022. Gasoline prices are down about 7% so far this month. Given the war in the Middle East, however, there is no guarantee that this will hold, but if it does, the October headline CPI could move into the low-3% range.

On a monthly basis, the CPI fell 0.1% in September after a 0.4% gain in August. The monthly slowdown was mainly driven by lower month-over-month prices for gasoline (-1.3%) in September. Goods inflation fell 0.3% from a month earlier, the first time since December 2022, and grew 3.6% from a year ago versus 3.7% in August. Services inflation was unchanged from August, the first time it hasn’t grown on a monthly basis since November 2021, while the rate slowed to 3.9% on a yearly basis, from 4.3% in August.

Yesterday’s Survey of Consumer Expectations showed that perceptions of current inflation remain well above actual inflation.  One reason is the very visible level of grocery and gasoline prices. As the chart below shows, food inflation–though still elevated–decelerated to 5.9% last month, and CPI excluding food and energy fell to a cycle-low 2.8%. Large monthly gains in September 2022, when grocery prices increased at the fastest pace in 41 years, fell out of the 12-month movements and put downward pressure on the indexes.

 

Prices for durable goods rose at a slower pace year over year in September (+0.4%) compared with August (+1.4%). The purchase of new passenger vehicles index contributed the most to the slowdown, rising 1.7% year over year in September, following a 3.1% gain in August. The deceleration in the price of new passenger vehicles was partly attributable to improved inventory levels compared with a year ago.

Additionally, furniture prices (-4.6%) and household appliances (-2.3%) continued to decline year-over-year in September, contributing to the slowdown in durable goods. Consumers paid less on a year-over-year basis for air transportation (-21.1 %) in September, coinciding with a gradual increase in airline flights over the previous 12 months.

Other measures of core inflation followed by the Bank of Canada also decelerated.

Bottom Line

According to Bloomberg News calculations, “A three-month moving average of underlying price pressures that Governor Tiff Macklem has flagged as key to policymakers’ thinking fell to an annualized pace of 3.67%, from 4.29% a month earlier.”  While this is still well above the Bank’s 2% target, the global economy is slowing, the Canadian and US economies are slowing, and with any luck at all, the Bank of Canada might see inflation move to within its target range next year. However, the central bank will be cautious, refraining from rate cuts until the middle of next year. The full impact of rate hikes has yet to be felt. The next move by the Bank of Canada could be a rate cut, but not until next year.

Article courtesy of Dr. Sherry Cooper, Chief Economist, Dominion Lending Centres

 

Angela Calla is an 19-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 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.

Click here to view the latest news on our blog. 

Understanding Your Mortgage Payments

General Angela Calla 10 Oct

Mortgage Payments:

 

📌Monthly mortgage payments are the most standard, and lenders use this common payment to calculate the amount you would pay on other schedules. But choosing another option can shave time off your mortgage and thousands from your interest costs. 💰💡

 

📌 Semi-monthly means you will divide your monthly mortgage payment in half and pay that amount twice a month. 📅✌️

 

📌 Biweekly means paying 26 payments yearly, once every 2 weeks. For 3 months each year (usually), you’ll need to make 3 payments in a month. ⏰💰

 

📌 Biweekly Accelerated means you’re paying 26 payments each year, with an extra monthly payment added into the calculation and spread out over the year’s payments. For 3 months each year (usually), you’ll need to make 3 payments in a month. On average, this payment method can take your amortization from 25 years to 22.5 years. ⚡️💸

 

📌 Weekly means you’re paying 52 payments each year, which is once a week. 🗓️📆

 

📌 Weekly Accelerated means you’re paying 52 payments each year with an extra monthly payment added into the calculation and spread out over the year’s payments. On average, this payment method can take your amortization from 25 years to 22.5 years. ⚡️📆💸

 

Have any mortgage related questions? I’m happy to help. 😀

 

Angela Calla is an 19-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 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.

Click here to view the latest news on our blog. 

Navigating the Rising Mortgage Rates: Selling vs. Renting – Angela Calla On Global News

General Angela Calla 5 Oct

In today’s uncertain economy, making financial decisions can be a daunting task. Have you ever found yourself or a loved one contemplating the idea of selling your home and reverting to renting? It’s a question that’s been on many Canadians’ minds lately. In this article, we’ll explore various options and strategies to help you stay in your home despite the challenges posed by rising mortgage rates and a limited housing supply.

 

Understanding the Landscape:

The current real estate market in Canada presents some unique challenges. Mortgage delinquencies are stable, and home prices continue to soar due to an influx of newcomers and a constrained housing supply. Families, however, are facing difficulties finding rental properties, making renting not a viable option for everyone. Moreover, interest rates are expected to rise further, with at least one more hike in the near future. Additionally, 1/4 of mortgage renewals are scheduled in the next 2 years, making it a critical time for homeowners to evaluate their strategies.

 

Exploring Your Options:

Here are some strategies we can help you with to navigate these challenging times:

 

Switching to Lenders with Longer Amortizations: Consider switching to lenders offering longer amortization periods, which can help reduce your monthly mortgage payments and ease financial strain.

 

Debt Consolidation: Consolidate debts outside your mortgage to potentially save hundreds or even thousands of dollars in interest.

 

Modification of Payment Strategies: Instead of accelerated payments, opt for reduced minimum payments, instantly improving your cash flow by up to 8 percent.

 

Equity Loans: Explore the option of obtaining an equity loan to create a financial buffer for your family.

 

Reverse Mortgages for Those Over 55: If you’re 55 or older, consider a reverse mortgage as a source of income.

 

Multigenerational Family Planning: Plan for lump sum contributions from family members as early inheritances to help pay down your mortgage.

 

Relocating Within BC or to AB, Winnipeg, or Sask: If your employment allows, consider moving to areas with more affordable housing options.

 

Budget Adjustments:

Many clients are taking proactive steps to realign their finances:

 

Reducing Car Expenses: Some are downsizing to one-car households or opting for less expensive vehicles.

 

Income from Renting: Taking in students or renting out parking/storage spaces can provide extra income.

 

Turning Passion into Profit: Transforming hobbies or passion projects into income-generating activities.

 

Adjusting Spending Habits: Reviewing and cutting back on unnecessary expenses.

 

Conclusion:

Navigating the complex world of mortgages and homeownership in today’s economic climate requires careful planning and expert advice. If you’re seeking personalized mortgage advice for you and your family, don’t hesitate to reach out to us directly at 604-802-3983 or via email at angela@countoncalla.ca.

 

[Link to Video and Full Article: https://globalnews.ca/news/10000476/mortgage-rates-rising-bc-selling-versus-renting/] Navigating the Rising Mortgage Rates: Selling vs. Renting

 

Angela Calla is an 19-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 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.

Click here to view the latest news on our blog. 

Angela Calla on Global News

General Angela Calla 26 Sep

With Wednesday’s relief of the Bank of Canada holding rates, here is a quick segment we did on Global News if you missed it (watch here).

Our hope is that with this pause we will also see a little bit of relief with fixed rates in upcoming weeks, before we evaluate what the Banks of Canada decided to do In October and December.

1 in 5 Canadians will have a mortgage renewal upcoming in 2024, so starting to plan now is ideal.

If you or a loved one have questions on a mortgage, please reach out to us directly by replying to this email or calling us at 604-802-3983 for personalized mortgage advise.

 

Angela Calla is an 19-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 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.

Click here to view the latest news on our blog. 

Self-Employed? We have a mortgage for that!

General Angela Calla 20 Sep

Often times we get calls or emails from those who are disappointed …they spoke to the bank directly on what options are available to make a home or investment property purchase.

Let’s take a look at “why” this happens ( more of a breakdown in my book for purchase here)

Every Bank in Canada only has a few options which may, or may not include what you need as a borrower.

It’s impossible for every lender to have every product!

Simply put,  it’s most likely they just don’t have the product you require for your acquisition.

The good news is: You have options!

Canadians have access to mortgage professionals to provide you the power of choice to decide what works best for your financial plan and timelines.

Self Employed Mortgages are generally allocated by lenders in 3 ways

      1. Net Income Grossed up 15 percent

  1. Stated Income- derived in-between the gross and the net income by review of financials and add backs – there are a handful of banks ONLY accessible by mortgage brokers that specialize in this lending
  2. Private Lenders- who look more at the equity, credit and actual property for security as a whole for you to obtain your ownership goals.

Redirection can lead to to pauses where we end up finding pauses.

We have dedicated the last 20 years to educating clients directly on this, speaking for influencing partners such as accountants, book keepers, financial planners and lawyers and most recently instructing for local real estate boards in addition to the media.

If you or a loved one want personalized mortgage advise for you or a group you represent please email us directly at angela@countoncalla.ca

Angela Calla is an 19-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 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.Click here to view the latest news on our blog. 

« First…7891011…Last »