The Mortgage Life

You might be surprised at some of the unique topics uncovered in this episode! Have a listen as Pete, Sue, and Mindy chat with Terence Tait, broker/owner at REMAX Action Realty in Whitehorse, YT.

Murray Smith from KPMG in Vernon joins Pete, Sue, and Mindy for a riveting chat about working with an accountant, and how an accountant can add to your trusted team of advisors. From financial reporting, to tax advice, to business strategy, an accountant can add an in depth financial perspective to your portfolio.

Reflections on some of our key episodes since the launch of The Mortgage Life in January 2021. - episode 1: Curious about BC Assessment? - episode 2: Don't burn your mortgage statement! - episode 6: What is Alternative Lending? - episodes 14-16, 19, 20: the GAM! Series - getting a mortgage - episode 17: First Time Home Buyers - episode 25: Thinking of purchasing in the USA? - episode 26: Under the Mattress - Saving for a Down Payment? - episode 41: Down Payment - upside down or right side up? - episode 37: Choosing Your Lender - episodes 29, 31, 32: the DAM! Series - design and mortgages - episode 34-36: the RAM! Series - rentals and mortgages - Bank of Canada Special Features Have a listen!

Another hold! The Bank of Canada has given us a bit more time with the current rate. Have a listen to our chat about it, and we have a little announcement! **check out episode 40 - Insights of a CEO for the full conversation with Gary Mauris, as mentioned in this Special Feature.

Do you have a great rate on your mortage, want to make a change, but don't want to incur a penalty? Have a listen to this episode on how to avoid the penalty box, and contact your broker to see if there are options for you.

A person's capacity in a mortgage transation is the amount of mortgage they qualify for given their verified income. What does that mean for you? Have a listen to this episode where Pete, Mindy, and Sue tackle the extensive world of income qualification to break it down into understandable and bite sized pieces. Also! Check out our RAM! series, episodes 34-36, where we dive deeper into investment income through rental/investment properties.

The Bank of Canada leaves its rate unchanged! Are we at a precipice? Are we at a place where inflation might continue to decrease? Will we stay level, or decrease in the near future? We'll have to wait and see!

Your down payment represents your 'skin in the game' - it is an equity injection at the time of your purchase. It also represents the biggest barrier to getting into the real estate market. Listen in as Pete, Sue, and Mindy talk down payment.

Pete, Sue, and Mindy have an in depth conversation with Gary Mauris, co-founder and President & CEO of Dominion Lending Centres; CEO of Mortgage Centre Canada; and Chairman of Mortgage Architects. They chat about everything from the Canadian economy to the concept of imposter syndrome, both in business and in life in general. Together, the DLC Group of Companies (DLCG) account for almost 40% of all broker originated mortgages in Canada. Mr. Mauris is a serial entrepreneur, having sold two prior companies to the public market. He has been recognized as a finalist for the Ernst & Young Entrepreneur of the Year in 2011 and earned the 2016 Tri-Cities Chamber of Commerce Business Leader of the Year. His companies have also won multiple industry awards and have been recognized by Profit Magazine as among Canada’s fastest growing companies. As a business leader, Mr. Mauris is called upon to share his views with media throughout Canada; as part of the 2011 Pre-budget Consultation process with the Federal Minister of Finance at the time, Mr. Jim Flaherty; and selected to be part of CBC’s “Face the Nation” in 2016 and have an open and frank discussion with Prime Minister Justin Trudeau on a variety of economic topics. He has led multiple socially conscious initiatives as the co-founder and President of the I AM SOMEONE Ending Bullying Society and recently co-founded “Bikes for Kids”, a National program that collects new bicycles for underprivileged children across Canada.

A chattel mortgage is a loan for a manufactured home or other movable piece of personal property, such as machinery or a vehicle. On this episode, Pete, Sue, and Mindy chat about what these loans look like in the mortgage industry.

The Bank of Canada held it's interest rate this morning. After 10 increases over the past couple of years, Canadians are faced with higher mortgage payments than ever before. So what does this mean for us now? What is the Bank of Canada looking for between now and the next annoucement on October 25, 2023? Have a listen to this morning's brief conversation, as we hash out some of these questions.

We are interrupting our regular podcast flow for a bonus episode on preparing for a natural disaster. Whether you're in the Okanagan, on Vancouver Island, or somewhere else in the world, this episode is meant to get you thinking about how to prepare for fires, floods, earthquakes, and whatever else Mother Nature brings.

How does your mortgage broker choose your lender? Why do some lenders have a branch location, while others do not? What is a Monoline lender? On this episode, Pete, Mindy, and Sue find answers to these questions in their chat with Sarah Almond from First National Financial. Sarah has been working in the mortgage industry since the early 2000's and joined the First National team in 2015. She is located in Kelowna and brings deep industry knowledge and excellent problem solving skills to her Account Manager role for the Interior of British Columbia. Sarah believes that education and partnership are paramount to the momentum of our industry. Her ability to inspire and connect instantly with people enables her to nurture and develop relationships with brokers.

In the third and final episode of the RAM! series, The Mortgage Life hosts discuss the basic parameters, common misconceptions, and the risks involved with building an empire (i.e. your rental investment portfolio). What is your purpose? How many properties will you own? Do you have the time and a solid financial plan? Check out the conversation!

Mindy, Sue and Pete talk with Brendon Ogmundson, chief economist from the BC Real Estate Association, about the Bank of Canada’s 0.25% rate increase this morning. Brendon gives his insights about the latest rate increase, what the Bank of Canada is trying to do with all these increases, and when we might see rate increases stop… or even start to go back down. Check it out!

Check it out! In this episode, we discuss short term rentals, and Mindy talks about her experience in ownership.

It’s another series! RAM is for Rentals And Mortgages! Are you curious about real estate investment? This series kicks off with a knowledgeable property manager sharing his experience with managing rental properties. Aaron Piva is the Owner and Managing Broker of Real Property Management Executives in Kelowna, BC. Born and raised in Metro Vancouver, Aaron has a bachelor’s degree from Simon Fraser University and has devoted his career to project/operational management, and quality control. Living and working in a fast-paced environment has made Aaron excel in the areas of execution, time management and accountability. Personable, reliable, and with a keen eye for detail, Aaron has earned a solid reputation for treating all his clients and associates with the utmost professionalism and respect.

Mindy, Sue and Pete discuss the Bank of Canada's rate announcement this morning and... here we go again! Another rate increase today of 0.25%. How does the Bank of Canada deal with inflation that is made up of increasing housing costs? And how do you handle those increasing costs? Tune in to find out!

Pete, Sue, and Mindy talk about locking in interest rates on this episode, along with the process and procedure for making it happen. Your decision to lock in or stick with your variable rate depends entirely on your personal situation. And so, this has been a popular discussion over the past year while the Bank of Canada rates (and those variable rate mortgages) were rising. Listen in!

Join Pete, Sue and Mindy as they discuss construction financing. They also interview builder-turned-realtor Mark Imhoff about the builder/developer perspective. In 1983 Mark was bitten by the entrepreneurial bug, purchasing the first of two restaurants he would own. In 1988 Mark sold the restaurants to pursue a new career in the building industry. Working for a project management company from Vancouver, building Seniors Homes in Victoria, Mark started at the bottom and quickly rose to the top. Within 18 Months he was running projects as large as 200 suites. After 3 years it was time to venture into the housing speculation market. In 1992 he began buying, rezoning, designing and physically building more than 150 personally purchased properties over the next 15 years. With 20 years of building, Mark’s Real Estate License was inevitable, so in June 2007, it became reality, and in 2011, The Mark Imhoff Group was formed. Mark and his team consistently deliver award winning service combined with aggressive and modern marketing techniques. Marketing and branding has been one of Mark’s and his team's most important success factors. Mark understands and utilizes marketing and branding to help his clients sell their current homes and purchase their next home.