Tien Ho Mortgages - March 2019

Tien Ho - Mortgage Advisor

MortgagesLab Financial Inc.

tien.ho@mortgageslab.ca
604-779-4249

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Refinance Low, Buy Low

 

Most people sell their small property and upgrade into a larger property. When they do this, they are selling high and buying high or they are selling low and buying low.  

Since the market has dropped since that crazy peak we saw a couple years ago, a better solution could be to refinance your current property, keep it and rent it out, then purchase another property at current market lows. 

For example, if your condo is worth $500k and you have a $200k mortgage on it, you could pull out $200k in equity. This $200k in equity can then be used to purchase $1.0 million dollar home. It may be easier than you think when everything is structured properly!

You're not forced to sell your condo and you get to upgrade into a bigger home.

This also works for purchasing rentals. 



Foreclosures

 

Mar 2019 Abbotsford Detached
Mar 2019 Abbotsford Attached
Mar 2019 Burnaby Attached
Mar 2019 Chilliwack Detached
Mar 2019 Commercial
Mar 2019 Coquitlam Attached
Mar 2019 Langley Detached
Mar 2019 Langley Attached
Mar 2019 Land
Mar 2019 Maple Ridge Detached
Mar 2019 Multifamily
Mar 2019 New Westminster Detached
Mar 2019 New Westminster Attached
Mar 2019 North Vancouver Detached
Mar 2019 Pitt Meadows Detached
Mar 2019 Port Coquitlam Detached
Mar 2019 Port Moody Detached
Mar 2019 Richmond Detached
Mar 2019 Richmond Attached
Mar 2019 Squamish Detached
Mar 2019 Surrey Detached
Mar 2019 Surrey Attached
Mar 2019 Vancouver Attached
Mar 2019 Vancouver Detached
Mar 2019 West Vancouver Attached
Mar 2019 West Vancouver Detached

Above is a list of foreclosures in the Lower Mainland.

There are some great deals to be had for either your own home or as a rental property.

If you decide to go this route, I recommend working with a realtor who is well versed with the foreclosure process. 



Be Ready! It's Buyer's Market

 

As most of you are well aware, the sales of real estate in Greater Vancouver have been slowing significantly since last fall. This has given buyers that were holding off their purchases, a great opportunity to make much better deals. If you'd like to be ready when the right property comes along, let's get you pre-approved with the right mortgage first. We have lenders in every area for every type of property and client. Text or Call me now at: 604.779.4249



Seattle for Trey Songz

 

Anyone that knows me, knows I truly love my R&B music. I finally got to see one of my top artists 'Trey Songz' down in Seattle. I was always hoping he would make a trip to Vancouver some day but guess that never happened.

It was a nice drive down with my girlfriend and a small getaway from work for both of us. This is the only photo we have and I almost felt I was the only one from Vancouver that actually went there to see this show.



Investment Opportunity - AirBnb Rental

 

In this business, I do meet a lot of realtors and some of them can be great sources of referrals for me. So I want to do my part and continuously show support to them when I can. I decided I will feature some of the many that I work with and if they happen to have something interesting I can share with everyone, then why not?

Brian Suico of Sutton West Coast Realty has a great investment opportunity for anyone looking for some extra income. Downtown property on Alberni Street listed at $1,068,000 and allows for AirBnB which gives some great return monthly.

For more questions or inquires please contact Brian at brian@briansuico.com or by phone at 604-377-8510



Will House prices bottom out this year?

 

Will House prices bottom out this year?

Housing industry leaders say Metro Vancouverites can expect to see single-family home prices continue to fall this year along with some softening in the prices of new multi-family homes. But if you are counting on the housing market to be hit by a true recession, you may end up waiting a long, long time.



Tien Ho Mortgages - February 2019

Tien Ho - Mortgage Advisor

MortgagesLab Financial Inc.

tien.ho@mortgageslab.ca
604-779-4249

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Foreclosures

 

Feb 2019 Burnaby Attached
Feb 2019 Burnaby Detached
Feb 2019 Chilliwack Attached
Feb 2019 Chilliwack Detached
Feb 2019 Commercial
Feb 2019 Coquitlam Attached
Feb 2019 Delta Detached
Feb 2019 Land
Feb 2019 Langley Detached
Feb 2019 Maple Ridge Attached
Feb 2019 Maple Ridge Detached
Feb 2019 Mission Detached
Feb 2019 Multifamily
Feb 2019 New Westminster Attached
Feb 2019 New Westminster Detached
Feb 2019 North Vancouver Detached
Feb 2019 Pitt Meadows Detached
Feb 2019 Port Coquitlam Detached
Feb 2019 Richmond Attached
Feb 2019 Richmond Detached
Feb 2019 Squamish Detached
Feb 2019 Surrey Attached
Feb 2019 Surrey Detached
Feb 2019 Vancouver Attached
Feb 2019 Vancouver Detached
Feb 2019 West Vancouver Detached

Above is a list of foreclosures in the Lower Mainland.

There are some great deals to be had for either your own home or as a rental property.  Check them out at the links above.



Experts Say These 5 Real Estate Tips Are Now Totally Outdated

 

Like lots of things in life (including yourself!), the real estate world keeps rapidly evolving. Though some things will stay the same, at least one thing your Realtor told you a decade ago is no longer relevant. Here, five once-common pieces of advice experts say that you should now take with a grain of salt.

Old advice: Overprice your home

"This advice is outdated because today—more than ever—people want to feel like they are getting 'value' in what they purchase. Real estate is no different," says Mark Cianciulli, co-founder of The CREM Group, a real estate company in Los Angeles. "So, if you list your house for too high of a price, a lot of buyers won't waste their time, or perhaps even see it, since it won't show in their search criteria."

Old advice: Spring is the time to sell

"Listing your property in the spring to launch during the spring selling season is no longer the case," says Noemi Bitterman, a real estate agent at Warburg Realty in New York City. "With the internet and social media, properties sell all year long. In January, when big bonuses are given, many buyers are out and in full force—even in a snowstorm."

Old advice: If they like it, they will buy it as is

"Instead, I always say 'if you don't want to make repairs, just lower your price,'" says Dolly Hertz, an agent at Engel & Voelkers in New York City. "A buyer walking into a home with glaring defects—like peeling paint, missing moldings, a broken refrigerator—or large projects that clearly need attention—like new decks, roof, or siding—is going to say hello and goodbye in the first five minutes."

Instead, do what you can to make the place as move-in ready as possible.

"That may include repainting the kitchen or re-facing the cabinets—not necessarily re-doing the entire kitchen," Hertz says. "You may not recoup every penny you spend on preparing for the sale, but, if you get a buyer willing to engage, you've met your objective."

Old Advice: List in your local newspaper

"The days of searching in a print medium are over as most buyers are looking at online real estate websites for potential homes to buy," Cianciulli says. "What I would recommend is having a virtual walk-through done of your property and asking your agent to upload that for you. This allows you to show buyers more features of your property versus still photos that don't show off everything about your home."

Article taken from: https://www.apartmenttherapy.com/real-estate-tips-outdated-265291



#10yearchallenge

 

One of the internet trends the last month was everyone was posting their 10 year challenge. It would be 2 seperate photos displaying how different they have changed within those years.

Luckily I found this neat photo of myself then and now. What do you all think?



Valentines Home Made Pizza

 

This year for Valentines day, I wanted to do something fun with my girlfriend because I always feel like activities are always more interactive and engaging. Even though I am not much of a cook, I decided to google on how to make pizza. So I went out and bought all the ingredients and we came home to try and make it together. It actually turned out really fun and we made a lot more dough than we needed. One of our mistakes was that when we put it in the oven we thought the temperature was in celsius so we kept it a lot lower than it should've been. The pizza was taking forever to bake untill we finally increased the heat and it cooked on the correct time. 

Oh well at least we have extra dough to make more and not screw up the next time. This was my girlfriends pizza which she made a heart shape in the spirit of Valentines. 



Biz Korner

 

Every month I will be featuring a business owned by someone in my database. 

If you would like to participate please contact me.



9 Bad Habits That Can Lead to Unhappiness

 

Almost every action we take in life is aimed at achieving or maintaining happiness that elusive state where we feel contentment, satisfaction, and even bliss. 

Some habits lead to unhappiness more than others do. These traps are easily avoided once you’re aware of them. Here are nine of them so you can be more conscious next time you are defaulting into them.

1. Holding your feelings in.

One of the great misconceptions concerning emotional intelligence (EQ) is that it is about repressing our feelings and holding them in. While it is true there are feelings that high EQ individuals do not allow to erupt on impulse, that does not mean those feelings are not expressed. Emotional intelligence means honoring your feelings and allowing yourself to experience the catharsis that comes from embracing them for what they are. Only then can you express them in a manner that helps rather than hinders your ability to reach your goals.

2. Numbing yourself with technology

Everyone deserves the opportunity to binge watch a TV show now and then or to switch on your Kindle and get lost in a book. The real question is how much time you spend plugged in (to video games, the TV, the tablet, the computer, the phone, etc.) and whether it makes you feel good or simply makes you numb. When your escape becomes a constant source of distraction, it is a sure sign you have fallen into the trap of too much of a good thing.

3. Spending too much time and effort acquiring "things".

People living in extreme poverty experience a significant increase in happiness when their financial circumstances improve. There’s an ocean of research that shows that material things don’t make you happy. When you make a habit of chasing things, you are likely to become unhappy because, beyond the disappointment you experience once you get them, you discover that you’ve gained them at the expense of the real things that can make you happy, such as friends, family and hobbies.

4. Waiting for the future.

Telling yourself, “I’ll be happy when …” is one of the easiest unhappy habits to fall into. How you end the statement doesn’t really matter (it might be a promotion, more pay or a new relationship) because it puts too much emphasis on circumstances, and improved circumstances don’t lead to happiness. Don’t spend your time waiting for something that’s proven to have no effect on your mood. Instead, focus on being happy right now, in the present moment, because there’s no guarantee of the future.

5. Fighting change.

Change is an inevitable part of life, and those who fight it do so because they are struggling to remain in control. The problem with this approach is that fighting change actually limits your control over the situation by putting up a barrier between yourself and the actions you need to take to improve your situation.

6. Pessimism.

Nothing fuels unhappiness quite like pessimism. The problem with a pessimistic attitude, beyond it being hard on your mood, is that it becomes a self-fulfilling prophecy: If you expect bad things, you’re more likely to get bad things. Pessimistic thoughts are hard to shake off until you recognize how illogical they are. Force yourself to look at the facts, and you’ll see that things are not nearly as bad as they seem.

7. Trying to keep up with the Joneses,

Jealousy and envy are incompatible with happiness, so if you’re constantly comparing yourself with others, it’s time to stop. In one study, most subjects said that they’d be OK with making less money, but only if everybody else did, too. Be wary of this kind of thinking, as it won’t make you happy and, more often than not, has the opposite effect.

8. Not improving.

Because unhappy people are pessimists and feel a lack of control over their lives, they tend to sit back and wait for life to happen to them. Instead of setting goals, learning and improving themselves, they just keep plodding along, and then they wonder why things never change. Don’t let this be you.

9. Staying home.

When you feel unhappy, it’s tempting to avoid other people. This is a huge mistake, as socializing, even when you don’t enjoy it, is great for your mood. We all have those days when we just want to pull the covers over our heads and refuse to talk to anybody, but understand that the moment this becomes a tendency, it destroys your mood. Recognize when unhappiness is making you antisocial, force yourself to get out there and mingle, and you’ll notice the difference right away.

Changing your habits in the name of greater happiness is one of the best things that you can do for yourself. But it’s also important for another reason—taking control of your happiness makes everyone around you happier, too.



Tien Ho Mortgages - June 2018

Tien Ho - Mortgage Advisor

MortgagesLab Financial Inc.

tien.ho@mortgageslab.ca
604-779-4249

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Foreclosures

 

June 2018 Burnaby Attached
June 2018 Burnaby Detached
June 2018 Chilliwack Detached
June 2018 Commercial
June 2018 Coquitlam Attached
June 2018 Land
June 2018 Langley Attached
June 2018 Mission Detached
June 2018 Multifamily
June 2018 New Westminster Attached
June 2018 Pitt Meadows Detached
June 2018 Richmond Attached
June 2018 Richmond Detached
June 2018 Surrey Attached
June 2018 Surrey Detached
June 2018 Vancouver Attached
June 2018 Vancouver Detached
June 2018 West Vancouver Detached

Above is a list of foreclosures in the Lower Mainland.

There are some great deals to be had for either your own home or as a rental property. 

Check them out at the links above.



Landlords expect more rentals after speculation tax hits

 

The head of LandlordBC expects some homeowners will start renting out their properties to avoid the province’s new speculation tax, but says it’s too soon to estimate the extent of its impact.

When Vancouver’s empty-house tax of one percent of a property’s assessed value came into effect last year, it prompted some homeowners to become landlords, said David Hutniak, LandlordBC’s chief executive.

Read more here



Mortgage Renewing in 2018

 

I saw a statistic the other day that claimed almost 50% (47% was the stat) of all mortgages in Canada will be coming up for renewal this year.  In Canada, there are $1.6 Trillion of mortgages outstanding.  47% of that number is a really big numbers.

If you or someone you know has a mortgage maturing this year, then we should talk.

Many lenders don't offer you the best deal when you renew your mortgage and they wait until the last minute to remind you of the renewal.

This year, I have already talked to many clients and saved many clients a great deal by connecting early, 3 or 4 months prior to the renewal date.  Mortgage rates have been steadily climbing and the sooner we speak the sooner you can guarantee a lower rate and protect yourself until the maturity date.

Another thing you know... Banks, like TD bank have been sneaky to increase their posted rates. Why sneaky?

Well, by increasing the posted rate, they are creating a larger margin between the rate you get and the interest rate that is posted.  They use this margin to calculate your penalty in the future, if you break the mortgage early.

All the banks know that 73% of their clients break their mortgage before the end of term and if they have a higher spread when they calculate the penalty, then they win!

Ask me about this...  call or text 403-870-2669



My Cousin's baby shower

 

Another pivotal point in growing up. More of my close friends are now starting to have babies!! This is me and some of my family at my cousin Kelvin's baby shower. Just a good time to get together and have some laughter and games.

Everyone bet on a date when the baby would pop. I guessed for July 5th or 6th.. I can't actually remember but I sure do hope I win for that $50 dollar gift card. EVERY PENNY COUNTS to milk my friends and family when I can, haha jk... but seriously wish me luck.



The Mortgage Approval Landscape

 

The mortgage approval landscape is the hardest it has ever been.  

People who would of have been approved 1 year ago, are now denied.

People who are used to getting exceptions from lenders, are now denied.

People with lots of equity in their homes, are now denied. 

People who have 20 year relationships with their bank, are now denied.  

People who have millions in cash, are now denied.

Is there a way around this?

Yes.  An excellent mortgage broker + long term mortgage planning.

You have to know the exact rules the banks work with and how to structure yourself around those rules. 

If you do the above, you can get almost any type of financing you want. 



67 Ways To Get Refreshed in BC

 

You are sitting at your desk feeling overwhelmed. It is time to recharge the batteries. But what should you do?.  For an awesome list of ideas, click here!



Spring Purchase and Tax Tips - Tien Ho Mortgages

Tien Ho - Mortgage Advisor

MortgagesLab Financial Inc.

tien.ho@mortgageslab.ca
604-779-4249

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It's official: $7-billion transit expansion plan for Surrey & Vancouver & others

 

Congratulations if you already own a home that's walking distance to any of the current & proposed LRT/Skytrain stations. If you are yet to decide where to purchase your property, and you are looking for about a 20-25% future lift on your property value more than the average, then now will be a great time to investigate the livable pockets around the proposed stations. The general consensus is that demand is higher for properties within an 800m radius of a station. 

Read more here



Buyer Beware: 5 Bylaws to Watch When Buying a Condo

 

When purchasing into a strata building, an important part of the buyer’s due diligence process is reviewing and understanding the current bylaws of the strata corporation. A failure to review the bylaws can lead to nasty, unwanted surprises for new homeowners later down the road.

Here are five types of bylaws that you should pay particular attention to, as they could make a huge difference to many buyers.

Rental Restrictions or Rental Prohibition

Particularly if you’re purchasing the property as an investment, but also if you might simply want to rent out your place and go travelling, you will want to ensure that you are in fact allowed to rent out your strata lot. The strata corporation may have already enacted bylaws that could either prohibit the rental of residential strata lots entirely, or limit the number or the percentage of strata lots that may be rented out. Strata corporations may also restrict the length of time for which strata lots may be rented.

Short-Term Accommodation Prohibition

Offering up all or part of your strata lot for short-term accommodation can be a significant mortgage helper. However, the rise of AirBnB has led many strata corporations to pass use-of-property bylaws that prohibit short-term accommodations. So, even though the City of Vancouver will now permit primary residences to be let short-term by licensed hosts, that doesn’t mean the strata corporation permits this practice.

These bylaws should not be confused with rental restrictions or prohibitions, as BC courts have found that short-term accommodations are legally different in nature to rentals. Unlike with rental restrictions or prohibitions, there is no grandfathering of use-of-property bylaws. Rather, they take effect as soon as they are registered with the LTSA.  

Pet Restriction or Pet Prohibition 

When buying a home for yourself, make sure that your pet has a home as well. Pet bylaws vary greatly and can be as extreme as a complete pet prohibition. However, it is more common for strata corporations to restrict the number and types of pets.

The often-used Schedule “A” bylaws restrict pets in a strata lot to one or more of (1) a reasonable number of fish or other small aquarium animals, (2) a reasonable number of small caged mammals, (3) up to two caged birds and (4) one dog OR one cat. Strata corporations who have passed a custom pet bylaw may have modified these restrictions and may require pets to be pre-approved and registered with the strata council.

Approval for Hardwood Flooring

Want to replace carpeting with hardwood floors before moving in? It’s important to remember that when it comes to strata living, an owner is not the master of their own domain. In an attempt to reduce noise transmission between strata lots, many strata corporations have adopted bylaws that specifically regulate the installation of new flooring.

Even if your strata corporation’s bylaws do not contain specific provisions targeting the installation of flooring, the bylaws will always contains some general provisions requiring approval of the strata council for alterations or renovations to a strata lot. Proceed with caution before making such changes.

Insurance Bylaws

Unfortunately, many homeowners will check their strata corporation’s bylaws only after a problem arises. One very common issue faced by owners in a strata building concerns the obligation to repair water damage. Depending on the wording of insurance bylaws, you may be liable for damage caused by water escaping from your strata lot irrespective of whether you have been negligent or careless. The easiest way to protect yourself from such claims is by making sure that you purchase your own individual homeowner insurance to fill in any gaps left by the strata corporation’s insurance policy. 



BC's Home Partnership Program Ending!

 

The BC Home Partnership Program (HPP) is being discontinued at the end of this month.

Launched just over one year ago, the HPP offered down payment assistance for prospective home buyers in the form of a second loan, with interest and payments deferred for five years. the qualifications for this program were quite restrictive and led to a smaller than expected number of applications.

The program will officially end on March 31, 2018. Applications received before that date will still be processed.



Taipei Lantern Festival

 

In March I got to complete one item off my bucket list. Ever since I saw that Disney movie 'Tangled' I was always fascinated in seeing a lantern festival. Before that, I never even knew these things existed. I thought it was one of the most beautiful scenes ever.

So I decided this year I would find one and go see it. Even though they have these events in different parts of the world, I found one in Taiwan and was set on that. I planned an Asia trip with my girlfriend there starting off with the festival.

It was just as amazing as I had imagined it and would recommend everyone to see it sometime too. What is on YOUR bucket list? My next one will be to go to Ireland and Scotland and see some castles.



7 Top Tax Refund Dos and Don’ts: It’s Your Money, Don’t Blow It!

 

What to Do With Your Tax Refund:1. Pay Off Any High-Interest Debt First

It doesn’t sound sexy, but if you can knock out some debt  (often credit card debt) that’s costing you money each month, you can take a huge positive step financially. There are different approaches like paying off the highest interest or paying off the biggest amount first (which can sometimes mentally be a big motivator), so look at various options for paying off credit card debt to make it work best for you.

2. Stash Money Away for an Emergency Fund

Only 39% of Americans say they’d be able to cover a $1000 emergency expense with savings, according to a 2018 Bankrate survey. If you’re in the majority who doesn’t have that savings stashed away, it’s a good idea to save money for a rainy day in case you need it. An emergency fund will keep you from having to charge emergency costs on higher interest credit cards or having to get creative to pay for something that pops up.

Continue Article Here...



Selling your Home? Here's What Home Buyers Look For

 

We all know that different buyers have different wants and needs. For example, families will be looking for homes near good schools and lots of recreational activities.

There are some common features that the vast majority of people are looking for in 2018. Today, bigger isn’t necessarily better - it’s all about whether the house meets the needs of today’s busy lifestyles.

Here are some of the key features that can make a huge difference in the selling price of your home.

Updated fixtures and appliances
Buyers are spending every cent they have on the purchase price of the home, and they don’t want to have to spend more to get it fixed up on top of that. If you live in a home that’s in need of freshening up, some new light fixtures and cabinet hardware will go a long way. If the kitchen appliances are 1970’s avocado green, you may need to spend some money to get energy efficient, up to date appliances. 

Remember, we have access to a government approved program where you can include up to $40k for renovations when you purchase that home with great bones in your perfect neighborhood!

Office Space and High Speed
Working from home is becoming more and more common, even if it’s just the occasional evening or snow day now and then. Having somewhere to focus and work on the computer is a must. Connectivity is key. A good mobile signal and high speed internet mean access to entertainment, information, and time saving opportunities of all kinds.

Amenities Close By
People want to be able to walk to restaurants, coffee shops, and gyms. As a result, buying in bedroom communities without these amenities less appealing. Buyers will spend more to get a smaller space if the location will allow them to live the lifestyle they want. Neighborhoods with short commutes are more popular than ever, and condo apartments downtown and townhouses close to downtown are also in demand.

Low maintenance
A decade or two ago, a big expanse of open lawn was an asset. Don’t get me wrong - people still want to see some landscaping, and curb appeal still sells but for a large number of people, less is more.

A larger, nicely styled walkway with some low-maintenance containers will present a welcoming appearance without taking up every free minute to maintain

Updated Kitchen and Bathrooms
You don’t need to have granite counter-tops to sell your home, but if your kitchen and bathrooms haven’t had an update since the 1980s, expect less interest and a lower selling price. Buyers don’t want to spend their weekends working on their houses - they want to just move in and have everything look good.

Buyers want well-designed, eat-in kitchens with plenty of organized storage. Ideally, the storage should be in the form of a pantry, rather than endless cupboards, especially if the kitchen is small. For bathrooms, they are looking for clean lines, walk-in showers, and as little grout as possible. 

If you or someone you know is planning to sell a home that isn't updated and renovated, you could ask your realtor to promote the renovation program as part of the sale. This could get your buyer dreaming about how your home will look in the future rather than how it looks today.  I've worked with some realtors who have promoted this with great success!



Tien Ho Mortgages - Happy New Year

Tien Ho - Mortgage Advisor

MortgagesLab Financial Inc.

tien.ho@mortgageslab.ca
604-779-4249

Tien - Facebook Tien - Linkedin

Foreclosure Lists

 

Townhouse Delta to Langley
Detached Delta to Langley
Detached Mission to Maple Ridge
Detached Burnaby to Coquitlam
Condo Delta to Langley
Attached Mission to Maple Ridge
Attached Burnaby to Coquitlam



Top Ten Towns and Cities to Invest in British Columbia

 

Real Estate Investment Network released the Top Ten B.C. Towns and Cities to invest in at the ACRE event three weeks ago. 

Based on the report, Surrey, the second largest city in B.C.and the fastest growing, has the diversity and strength required to lead the province in real estate investment potential.

Studying 36 economic and market factors, REIN identified B.C. real estate markets that are poised to outperform over the coming five year period. The detailed report also provides additional analysis that concludes where each market is in the real estate cycle and what to expect as the cycle continues.

Ranked in order of potential for housing market strength over the coming five year period:

1. Surrey

2. Abbotsford

3. New Westminster

4. Victoria

5. Kamloops

6. Kelowna

7. Chilliwack

8. The Tri-Cities of Coquitlam, Port Coquitlam and Port Moody

9. Burnaby

10. Vancouver

Receiving honorable mentions, in no particular order, are:

Fort St. John

Dawson Creek

The Township of Langley

Mission

Maple Ridge

While most think the Lower Mainland's housing market is priced 'out of this world', limited supply and increasing demand continue to drive this market. These areas provide opportunity for those who know the right investment strategies and tactics to use at the right time.



Christmas in Seattle

 

This year I spent Christmas in Seattle with Michelle's family for a good relaxing 3 days there. We rented a van to fit everyone and luckily there was no lineup at the border. 

I've been growing an addiction to playing board games which we did almost every night.  There was one day when we all played poker for a small buy in. Michelle's Aunt definitely scammed us all and won everything, that hustler!!

Overall it was a very fun Christmas overall. I hope everyone had a great Christmas and New Years as well.



New Mortgage Rules - Some Useful Information

 

As has been announced in the news media, mortgage borrowers with more than 20% equity or down payment will have their borrowing power reduced by at least 20% when the govt's new rules took effect on Jan 1st. Here are some points to bear in mind regarding this:

1. Purchase contracts dated prior to January 1, 2018 may be approved using the old qualifying rules regardless of when you eventually apply for your mortgage

2. Any currently approved mortgage requests with material changes made after December 31, 2017 will result in the application being adjudicated according to new qualifying rules. Examples include a change of property, addition/removal of applicants etc

3. Pre approvals on applications qualified under the old rules cannot be extended beyond the original (usually) 120 day period.

Not all lenders use the same qualification rules and you may have more success at one bank over another. 

 



Call Me to Discuss New Rules

 

Several people have called me about the new rules coming into place for Jan 1st, 2018.

If you would like to discuss how it relates to your mortgage or future mortgages, call me at 604-779-4249 for all the straight goods.



BC Assessments Updated

 

BC Assessments Have Been Updated. Super easy to use. Look up any BC Address here.

https://www.bcassessment.ca/



New Mortgage Rules after the New Years

Tien Ho - Mortgage Advisor

MortgagesLab Financial Inc.

tien.ho@mortgageslab.ca
604-779-4249

Tien - Facebook Tien - Linkedin

Foreclosures

 

Nov 2017 Abbotsford Attached
Nov 2017 Burnaby Attached
Nov 2017 Chilliwack Attached
Nov 2017 Chilliwack Detached
Nov 2017 Mission Detached
Nov 2017 North Vancouver Detached
Nov 2017 Pitt Meadows Attached
Nov 2017 Pitt Meadows Detached
Nov 2017 Port Moody Attached
Nov 2017 Richmond Attached
Nov 2017 Surrey Attached
Nov 2017 Surrey Detached
Nov 2017 Vancouver Attached
Nov 2017 Vancouver Detached
Nov 2017 West Vancouver Detached

Above is a list of foreclosures in the Lower Mainland. There are some great deals to be had for either your own home or as a rental property.  Check them out at the links above.



Ten ways the new mortgage rules will shake up the lending market

 

T-minus 76 days and counting until Canada's banking regulator launches its controversial mortgage stress test. It'll be squarely aimed at people with heavier debt loads and at least 20 per cent equity – and it will be a tide turner.

Given where Canada's home prices and debt levels are at, this is easily the most potent mortgage rule change of all time. Here are 10 ways it's going to shake up Canada's mortgage market for years to come:

1. It's like a two-point rate hike: Uninsured borrowers can qualify for a mortgage today at five-year fixed rates as low as 2.97 per cent. In a few months that hurdle will soar to almost 5 per cent. If you're affected by this, you could need upward of 20 per cent more income to get the same old bank mortgage that you could get today.

Continue Article Here...



Multi-Families for Sale - 4 Unit and Up

 

575 Evergreen Drive - Prince Rupert
616 W 7th Avenue - Prince Rupert
397 Aspen Street, 100 Mile House
10204 98 Street - Fort St John
3449 14th Street - Houston
10219 96 Avenue - Fort St John
681 Edkins Street - Quesnel
46101 Princess Avenue - Chilliwack
1744 Spruce St - Prince George
610 Laird Street - Fraser Lake
85 Endako Avenue - Fraser Lake
335 13th Street - New Westminster
4502 Lazelle Avenue - Terrace
229 Templeton Dr - Vancouver
20669 Eastleigh Cr - Langley
2072 W 15th Avenue - Vancouver
76 Coburg St - New Westminster
6779 Sussex Avenue - Burnaby
1222 Fifth Avenue - New Westminster
2285 Triumph Street - Vancouver

Here are some of the multi-family properties that is available for sale in British Columbia.



Sheldon from the Big Bang Theory

 

For this Halloween that just passed I dressed up as Sheldon from the Big Bang Theory. I guess I didn't do a very good job or maybe people just don't watch that show as much as I thought they did. Everyone just assumed I was the Green Lantern. Takes all the fun away when you have to explain your costume 



New Mortgage Rules Effective January 1st 2018

 

New guidelines that will soon place restrictions on uninsured borrowers looking to secure a mortgage have — as one Ottawa realtor puts it — kicked the pursuit of a home into "overdrive."

Earlier this month, the Office of the Superintendent of Financial Institutions (OSFI) released guidelines for the mortgage industry that will take effect on Jan. 1, 2018.
One of the major new rules is a requirement to subject uninsured borrowers to a "stress test." 

At the moment, anyone who puts down more than 20 per cent of the value of a home doesn't have to pay for mortgage insurance, and is considered an uninsured borrower.
Only insured borrowers — those who put down less than 20 per cent — are required to undergo a stress test of their finances, something they've faced since last year.
OSFI sets new mortgage rules, including stress test for uninsured borrowers

The test consists of ensuring the borrower would be able to pay back the loan if interest rates become higher than they are today. It was part of an attempt to rein in personal debt.
Under OSFI's new rules, people would have to show they can afford their mortgage payments at either the five-year average rate posted by the Bank of Canada, or two percentage points higher than whatever deal they were able to negotiate — whichever measurement is higher.

Read Complete Article Here



Eating out is the top financial indulgence for most Canadians

 

Jordan Berends, 24, eats out at restaurants twice a week and he doesn't feel remotely guilty about the cost.

He's not a "foodie" and his family didn't eat out much when he was growing up, so it's not a hobby or learned habit. For Mr. Berends, eating out is an entertainment expense and an investment in his personal life.

"It's a social experience. One of the best ways to meet up with a friend you haven't seen in a while is to go for food, or a good way to spend quality time with a partner is to talk over food," says the Vancouver resident.

"My partner and I usually eat out once a week with each other, and probably once a week with our own friends and we certainly don't think that's a waste of money."

A lot of Canadians agree. Eating out is the most popular indulgence for Canadians according to a recent survey of "financial guilty pleasures" from Capital One Canada and Credit Canada.

Click here to continue article...



My Girlfriend's New Store..... and more mortgage stuff of course

Tien Ho - Mortgage Advisor

MortgagesLab Financial Inc.

tien.ho@mortgageslab.ca
604-779-4249

Tien - Facebook Tien - Linkedin

My girlfriend opened up her own shop

 

Now I know what you're thinking. TIEN has a girlfriend? How's that even possible 

But yes she's been working hard at her business as a eyebrow tattoo shop located on Kingsway by the Metrotown area. I'm so happy for her and all her hard work and hope that everyone can come by sometime to check it out. She provides services in Eyebrow tattooeing and Eyelash extensions at the moment and possibly more in the future.

I am helping her organize her Grand Opening event on Sunday Oct. 15th from 2-7pm. Come by for some treats and show her some support.



Foreclosures

 

Oct 2017 Abbotsford Detached
Oct 2017 Burnaby Attached
Oct 2017 Burnaby Detached
Oct 2017 Chilliwack Attached
Sept 2017 Chilliwack Detached
Oct 2017 Coquitlam Attached
Oct 2017 Delta Detached
Oct 2017 New Westminster Attached
Oct 2017 North Vancouver Attached
Oct 2017 North Vancouver Detached
Oct 2017 Pitt Meadows Attached
Oct 2017 Pitt Meadows Detached
Oct 2017 Port Coquitlam Attached
Oct 2017 Port Moody Attached
Oct 2017 Port Moody Detached
Oct 2017 Richmond Attached
Oct 2017 Surrey Detached
Oct 2017 Vancouver Attached
Oct 2017 Vancouver Detached
Oct 2017 West Vancouver Detached

Above is a list of foreclosures in the Lower Mainland.  There are some great deals to be had for either your own home or as a rental property.   Check them out at the links above.



The Government of Canada is expected to release more mortgage rules this fall of 2017

 

Just when you thought that it couldn't get worse, it's about to. The government of Canada is predicted to approve yet more mortgage rules to slow down the market. OSFI (The Office of the Superintendent of Financial Institutions) proposed new guidelines that include stress tests for uninsured mortgages. These are mortgages where you put 20% down or greater. They have not told us when this will happen but only that it will likely happen this Fall.

Curious how this could affect you? READ HERE



Look I'm in a Studio

 

Okay well I wasn't really recording music, but it was still fun to pretend. At the end of Summer I made a quick trip to Kelowna with some friends for a few days. Obviously being there we had to check out some wineries. One of the more interesting ones, was a place called 'Frequency' where they studied how sound affected the results of each wine.

They have a small studio in there as well for people who wanted to record music. So this was us being posers.



Mortgage Financing Is Becoming More Difficult

 

There has been a lot of legislation since 2008 that has come down to tighten mortgage financing.  

What most people don't realize, is a large portion of it only applies to federally regulated lenders.

Provincially regulated lenders such as credit unions have not been exposed to these regulations (as much).  

So, what's the problem?

Well, the credit unions are now jammed with deals that the federally regulated lenders can't touch.  

This does 2 things:

1. Underwriting can take a month + 
2. Higher rates

What's the solution?

Plan for your specific situation, relative to the type of property you want to purchase. 

Who does this for you? ... Me.  Reach me directly at 604-779-4249 - I am always here to assist you.



7 Reasons Buying Beats Renting

 

Why Buying a Home is Better than Renting
Conventional wisdom used to state that buying a home is always a great investment. But after the housing crisis, many people who saw their equity sliced in half began questioning this logic.

That’s unfortunate. In most parts of the U.S., home buying is still a better decision than renting for people who plan to remain in the space for at least 4-5 years or more, both for financial and emotional reasons. Let’s explore some of these factors in-depth.

Price Security in Home Buying
Historically, prices tend to rise over time. For example, a loaf of bread, a gallon of milk, and a semester of college tuition cost more today than they did in 1990.

Your mortgage payment, however, is one constant you can rely upon. If you hold a fixed-rate mortgage, your monthly principle and interest (P&I) payment remains the same, regardless of how prices are moving in other industries. (Your property taxes and homeowners insurance may rise.)

Continue Article Here...https://www.coldwellbanker.com/blog/why-buying-a-home-is-better-than-renting/



Aloha - Summer ends and more rate increases

Tien Ho - Mortgage Advisor

MortgagesLab Financial Inc.

tien.ho@mortgageslab.ca
604-779-4249

Tien - Facebook Tien - Linkedin

Power of Sales /September Forclosures

 

Power of Sales Barrie

Power of Sale Brampton

Power of Sale Caledon

Power of Sale East Gwillimbury

Power of Sale Georgina

Power of Sale King

Power of Sale Markham

Power of Sale Mississauga

Power of Sale Oakville

Power of Sale Oshawa

Power of Sale Richmond Hill

Power of Sale Toronto

Power of Sale Vaughan

Power of Sale Whitby



Why have I never heard of my Lender?

 

As Mortgage Brokers, we have numerous lenders competing for our clients’ business.  Often, you will meet with your broker to sign your mortgage documents and you will not recognize your mortgage lending company.

 Why is this?

Broker or “Virtual” lenders that only deal with brokers or existing clients direct, can generally offer a lower rate and also a lower penalty calculation.  This is because instead of spending millions on Advertising and Sponsorships, they retain their capital to pass along the savings to the customer.  They also do not have the overhead of having numerous physical branches.  They pay brokers based on the mortgage size to be their mobile representatives.  The brokers are independent contractors so the lenders aren’t required to pay for benefits, etc.

Read Article Here:



Inspiring Conor McGregor Story

 

Less than 10 years ago, Conor McGregor was homeless. 

While homeless he met a woman named Dee Devlin. She took him off the streets, moved Conor into her tiny apartment and fed him daily.

All she ever asked was that he worked hard and believed in himself. She struggled to buy expensive, healthy food so Conor could train and stay focused...but she stuck by him.

Only 6 years ago, Conor was undergoing a plumbing apprenticeship program and collected 188 euros as social welfare payments each week. 

Last Saturday night, Dee sat in the attendance to once again support her man while he made over 100 MILLION dollars to add to his successful new life.

Moral of the McGregor story - Believe in yourself and find people to surround yourself with who believe in you as well. Life is too short to keep your circle full of people who will watch you fail.

Don't EVER let your circumstances or people hold you down. Get out there and take what's yours. Own It.  No Excuses.

Here are some famous McGregor quotes:

-Competition gives me energy. It keeps me focused.

- I don't feel pressure in a negative way. I like pressure. I feel excitement and calm at the same time. No pressure, no diamonds.

- I will die a crazy old man.

- When I say something's going to happen, it's going to happen.

- What can I say? I am a talker.

- The thing about truth is, not a lot of people can handle it.

- When I do something, I do full steam ahead.

- I always teach myself calm and visualization

- Ritual is another word for fear, manifested in a different way.

- I am fearless

- Life is about growing and improving and getting better.

- My success isn't a result of arrogance - it's a result of belief

- It's good to make your brain work more than your body.



Family Hawaii Trip

 

My first time in Hawaii ever this year. And it was a good way to finish off my Summer. It was a big family trip with my sister, her family, cousins from San Diego and all the way from Germany too. It's a very beautiful place, and extremely hot. So we pretty much relaxed every day on the beach.



Bank of Canada Rate Hikes Attention *Variable Mortgage Clients*

 

Well it happened again, the Bank of Canada has announced another increase to the Overnight Lending Rate... Prime will rise likely to 3.20%.
It's not the end of the world, however, I can understand that any increase in payment is not fun.

This increase represents approximately  $13 more per $100k of mortgage based on a 25 year am.
Now I'm no fortune teller, however, I would think this is the last one for a bit of time. Too fast and they could damage things.

That being said people with deeper discounts should stay the course. You're still under the lock in rate and variable mortgages ONLY come with a 3 month interest penalty. Locking in brings with it the potential for higher breakage costs; if you were to break your mortgage prior to the end of the term. This difference here could actually end up costing you thousands more.

The Bank of Canada has gone back to the future.
For the past decade, traders have been conditioned to expect central banks to both telegraph policy tweaks ahead of time and offer a thorough rationalization of those shifts at the time of implementation.
Canada’s central bank provided neither when hiking its benchmark rate to 1 per cent on Sept. 6. Monetary policy makers hadn’t spoken publicly since July 12, when they delivered their first increase in almost seven years, nor was the latest decision followed by a press conference.

There is a very informative video attached in the link with the full article below.

http://business.financialpost.com/news/economy/quick-hike-shows-data-speak-louder-than-words-canada-eco-watch



Top 10 Rules for Success

 

Check out these short videos on three of the most successful people of all time, Oprah Winfrey, Bill Gates and Warren Buffett.  I find it extremely helpful to hear how the most successful people approach the world and think about their time and opportunity.  Enjoy!

Here's a bonus article on why all three like to read!  

Oprah Winfrey's Top 10 Rules for Success

She's a media proprietor, talk show host, actress, producer, and philanthropist.  She's best known for her talk show The Oprah Winfrey Show, which was the highest-rated program of its kind in history.

Bill Gates's Top 10 Rules For Success

He consistently ranks in the Forbes list of the world's wealthiest people.  He's one of the best-known entrepreneurs of the personal computer revolution.  He is also the second-most generous philanthropist in America, having given over $28 billion to charity.

Warren Buffett's Top 10 Rules for Success

He was the single most successful investor of the 20th century.  Time magazine named him one of the most influential people in the world.  He's worth over $70 billion.



Rates are increasing rapidly, and an info session on buying homes

Tien Ho - Mortgage Advisor

MortgagesLab Financial Inc.

tien.ho@mortgageslab.ca
604-779-4249

Tien - Facebook Tien - Linkedin

Bank of Canada raises interest rates for first time in 7 years

 

The Bank of Canada is hiking its key interest rate for the first time in seven years, joining the U.S. Federal Reserve in starting the process of undoing nearly a decade of easy money.

The bank raised its overnight lending rate to 0.75 per cent from 0.5 per cent Wednesday, citing “bolstered” confidence that the Canadian economy has finally turned the corner after years of sputtering growth

.https://www.theglobeandmail.com/report-on-business/economy/bank-of-canada-interest-rate-decision/article35662991/



YVR Deals - Cheap Travel Deals From Vancouver

 

This webpage is awesome.  They will send you email notifications of when super cheap flight deals pop up from Vancouver.  

Webpage: http://yvrdeals.com/

Facebook Page:  https://www.facebook.com/groups/yvrdeals/

Join it.



Variable Rate Going Up .25% - What will happen to your payment?

 

*** #'s are based on 2.2% going to 2.45%

.25% Increase with a 30 Year Amortization Mortgage

$100,000 + $12/month 
$250,000 + $30/month 
$500,000 + $60/month 
$750,000 + $90/month 
$1,000,000 + $120/month 
$1,500,000 + $180/month 
$2,000,000 + $240/month 
$3,000,000 + $360/month 

.25% Increase with a 25 Year Amortization Mortgage

$100,000 + $13/month
$250,000 + $32/month
$500,000 + $65/month
$750,000 + $98/month
$1,000,000 + $130/month
$1,500,000 + $195/month
$2,000,000 + $260/month
$3,000,000 + $390/month

.25% Increase with a Line of Credit

$100,000 + $21/month
$250,000 + $52/month 
$500,000 + $104/month
$750,000 + $156/month
$1,000,000 + $208/month
$1,500,000 + $312/month
$2,000,000 + $416/month
$3,000,000 + $624/month



Thinking about buying your first home ?

 

Are you , or someone you know , thinking about a buying home ? If so , come out to this First Time Home Buyers Seminar on Thursday August 3 at the Creekside Community Centre in Olympic Village brought to you by my colleague David Monteith of Mortgages Lab.

This FREE 2 hour seminar will cover many of the topics you need to know about the buying process. Join me and other industry professionals - whether you are buying for the 1st time or the 10th time.

Contact me at tien.ho@mortgageslab.ca if you would like to attend



My Dine in the Sky Experience

 

So this month my girlfriend and I tried the dine in the sky event, where they hoist you up in a crane and serve you food more than 150 feet in the air.

The food was alright since there is no kitchen I think the meals were all pre-prepped. I did the the breakfast meal and was there early in the morning at 9am. Even though the summer has been quite warm, it was actually kind of chilly when your that high above the ground. Luckily the gave out some blankets for people like me who thought a jacket wasn't necessary.

Here I am just laying back relaxing and my face is red because I have Asian glow from drinking those mimosa's. Overall a good experience as it was an amazing view of the city at that point.



10 Ways to Save Money on Your Vacation

 

One of the great traditions many of us enjoy is the summer vacation. With school done for the year, it's time to start thinking about what you want to do this summer.

Unfortunately, a summer vacation can get expensive if you aren't careful. If you want to make sure that you don't break your budget with your vacation, you need to have a good plan for saving money. As you look ahead to your summer fun, here are 10 ways to save money on your vacation.

Check out the 10 ways here...



Mortgage Myths, Our role as brokers, and a Boring Camping story

Tien Ho - Mortgage Advisor

MortgagesLab Financial Inc.

tien.ho@mortgageslab.ca
604-779-4249

Tien - Facebook Tien - Linkedin

Is The Real Estate Crash Coming?

 

The Crash Of 2013
The Crash Of 2012
The Crash Of 2010
The Crash Of 2008

This is the topic of endless debate; however, if you listen to the media, we have already been through real estate "CRASHES' in 2008, 2010, 2012, and 2013! Take a look at these front page headlines from some of Canada's most trusted news sources! Click the above links to check them out. 

As most of us have realized, the market has certainly slowed down recently. Why you may ask? Opinions will vary, of course, but I believe it's a matter of supply versus demand. 

The number of new listings have increased every month since April. Historically the numbers will continue to increase as we head into the summer months. This increased supply will naturally cool the market.

I would encourage everyone to check out the CREA (Canadian Real Estate Association) website HERE. It has some fantastic information and statistics that if you begin to pay attention to, help make sense of our current real estate market. Of course, you could just get your real estate market updates from the magazine covers I referenced above, but it may instill some unnecessary panic!



There’s more to a mortgage broker’s role than getting a good deal

 

Arguably one of the most underappreciated roles in the home-buying process is that of a mortgage broker. Often prospective home buyers turn to their banks for their mortgage needs. However, an experienced mortgage broker can be the difference between a good mortgage deal and a great mortgage deal that can save thousands of dollars in the long run.

“Being in financial services, it’s our job to keep a constant finger on the pulse of the financial industry and news,” said a Nova Scotia-based broker. “We cannot control interest rates, but we can keep a close watch on indicators for protecting our clients against unnecessary costs.”

A successful broker works hard to differentiate himself while functioning in a highly competitive environment. One way to do that is by staying current with constantly changing rules and guidelines; especially true today with recent government changes highlighting an even greater need for mortgage professionals.

Moreover, the demand for instant connectivity and direct communication has given rise to cutting edge product offerings including: various mortgage calculators, digital guides for buying your first home, and online mortgage approval and tracking system, like the Canadian lender First National’s Merlin, a portal that gives brokers real-time status for every stage of a deal.

Borrowers can also access online mortgage management tools that helps keep tabs on your mortgage.

According to an Ontario-based broker, gone are the days when people called your office and waited to hear back. Clients want to be able to connect with brokers and access information right when they need them.

Consequently, many brokers participate in social media sites such as Facebook or Twitter in order to share useful information in a timely fashion. Plus, it’s a great place to interact with millennial clients.

Increasingly, brokers are working collaboratively with other experts to meet some of their clients’ home-buying requirements that may fall outside the broker’s area of expertise. “Working with some of the top minds in the business, sharing ideas and best practices has been of mutual benefit to all involved,” said the Nova Scotia-based broker. 

The results speak for themselves. The Nova Scotia broker was contacted as a last-ditch effort by a client whose mortgage application was rejected by her bank after it pre-approved the mortgage for a property the client was under contract to purchase.  

“We were able to complete a thorough review and restructure her financial picture much more favourably, significantly reducing her monthly obligations and subsequently securing her purchase financing approval, with her own bank,” added the broker.

A broker’s role isn’t limited to helping Canadians buy homes. “Their job is to understand a client’s long- and short-term goals, based on the life stage they're at, and then offer advice closely aligned to the client’s financial situation,” said the Ontario-based broker.

It’s a sentiment that is echoed by brokers across Canada. “Our business is primarily relationship driven and is customer-centric from start to finish,” said the Nova Scotia-based broker. “We walk them through the mortgage from beginning to end, which is particularly valuable to first-time home buyers who walk away with a new level of understanding of how the mortgage ties into their overall financial picture in the short and long term.

Click here to Read this article in the Globe and Mail



Camping then a hike a Joffre Lake

 

Recently I just went camping with some friends over Nairn Falls. Not much of an outdoorsy kind of guy but it turned out really fun and nice getaway.

The morning after we drove up to Joffre lake for hike. It was four hours.. 2 hours up.. 2 hours down... WHO DOES THIS?? Who goes 4 hours without food... first world problems I tell ya...



June 2017 Foreclosures

 

June 2017 Burnaby Detached Foreclosure
June 2017 Abbotsford Detached Foreclosure
June 2017 Chilliwack Detached Foreclosure
June 2017 Chilliwack Attached Foreclosure
June 2017 Langley Attached Foreclosure
June 2017 Cloverdale Detached Foreclosure
June 2017 Maple Pitt Detached Foreclosure
June 2017 Langley Detached Foreclosure
June 2017 Burnaby Attached Foreclosure
June 2017 Abbotsford Attached Foreclosure
June 2017 Maple Pitt Detached Foreclosure
June 2017 New Westminster Detached Foreclosure
June 2017 Richmond Attached Foreclosure
June 2017 Surrey Detached Foreclosure
June 2017 New Westminster Attached Foreclosure
June 2017 Mission Attached Foreclosure
June 2017 Tri Cities Detached Foreclosure
June 2017 Mission Detached Foreclosure
June 2017 Tri Cities Attached Foreclosure
June 2017 Surrey Attached Foreclosure

We won another foreclosure deal for a client last month! That one was extra special because in the past 14 years I've dealing with foreclosures, I've always competed with other offers in court, this time there was NO competition.  Since we were the original accepted offer, we walked away with an excellent deal!!



Financial Lessons

 



"WE'RE ALL DOING IT": Lies and Deception the BIG 5 Banks Train Their Employees to TELL YOU.

 

These are three of the most common fibs I've been exposed to around mortgages:

http://www.cbc.ca/news/business/banks-upselling-go-public-1.4023575

1. "Mortgage insurance is required to get the mortgage". 

This is false; It's not required at all and is generally way more expensive than broker quoted insurance if you actually need it. 

Get quotes on line at; http://www.lowestrates.ca/insurance/home

Check your existing insurances, you may already have the same coverage.

2. "Our mortgages only have 3 month interest penalty break fees"

This is false; Fixed rate Mortgages typically have HUGE interest rate differential penalties. 

For a quick overview of Break fees by Bank and Mortgage type click here; https://www.ratehub.ca/penalty-calculator

Remember to read the break fee terms before you sign.

3. "We can easily transfer your mortgage to another property"

This is false;  Most of the time you have to re-qualify for the transfer. 

Again find the Transfer Terms in your mortgage and ask them to change the terms to; "Transfer without re-qualification".

Lesson here is, if you don't like any specific terms, ask for them to be changed, sometimes it works,,,