Kayla Armstrong Mortgage Broker

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Canada
Langley, BC
Kayla Armstrong Mortgage Broker

VERICO mortgage advisors are Canada’s Trusted Experts who will be with you through the life of your mortgage. I am a mortgage broker, mom & wife.

We save you money by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal. I understand the importance and stress of this life changing purchase and truly empathize with every client. I am here to help and will walk you through every step of the process. If you are saving to get into the market, CALL ME, let’s get you a pre-approval. I

f you are 3+ yrs into your term, CALL ME, rates are low - I could save you thousands! REFERRAL GIFTS for anyone who sends me a mortgage!

02/28/2023

I recommend G&A Spotless Cleaning Services for all my
Clients moving or house upkeep needs!

09/26/2022

Have you ever considered your mortgage as a financial tool? Debt consolidation, secured credit, investments… just to name a few. With everyone feeling the pressure or inflation, lowering monthly cost is 🔑

Let’s chat & see how your mortgage can benefit you.

10/21/2021

Have you heard of the new development in Langley?

⭐️ The pre-sales on this development have been POPULAR! ⭐️

I have had a number of clients reach out to get pre-approved or refinance to be able to secure one of these!

💥The South Tower launches soon! 💥

Are you interested in purchasing or investing in this beautiful development?

📲 778-995-1542

10/13/2021

🤩TIP for saving for a down payment🤩

Save the funds in your RRSP’s!

Being a first time home buyer you are able to withdraw up to $35,000 from your RRSP’s to use towards a down payment. 💰💰💰

Another benefit to adding the funds to your RRSP’s, it lowers your taxable income by claiming the contributions, resulting in a larger tax return. 💯

Your RRSP contributions must remain in the RRSP for at least 90 days before you can withdraw them under the Home Buyer Plan.

The home buyer buyer plan allows you to pay back the withdrawn funds within a 15-year period. 👍

09/29/2021

Fixed rates:

The bond yield is on the raise and that means fixed rates are going up. ⬆️

This does not change variable rates, which are still historically low! 📉

If you are thinking about buying a new home, switching mortgage lenders or wanting to refinance…now is the time!

08/30/2021

Did you know that 70% of Canadians break their mortgage term early.

The most overlooked part of the mortgage contract is the penalty. The type of penalty calculations is interest rate differential (IRD) and three months interest.

Depending if you choose a variable rate or a fixed rate will determine which calculation is used.

Variable Rate Mortgage: By locking into a variable rate, you will be looking at a paying maximum three months interest of your current mortgage balance. Generally, this expense is minimal.

Fixed Rate Mortgage: By locking into a fixed rate the penalty is a lot more complicated. Most lenders calculate both three months interest and interest rate differential (IRD) and require fixed rate borrowers to pay the which ever is the larger amount as a penalty.
Interest Rate differential (IRD) is calculated -> (Your current rate - market rate x remaining mortgage balance x number of raining months on your mortgage = penalty amount). IRD can easily add up to thousands of dollars. 💸💸

To find out the most suitable mortgage for you, contact me today. 📲->778.995.1542

07/16/2021

Want to know more mortgage secrets? 🤫

07/14/2021

CMHC UPDATE:

Last week, CMHC announced that it has decided to ease mortgage requirements for qualifying for loan insurance as they have no realize the changes they made in July 2020 were not effective.

CMHC now requires at least one borrower or guarantor seeking mortgage insurance to have a credit score greater than or equal to 600 (previously 680)

CMHC will consider a Gross Debt Service (GDS) ratio up to 39% and a Total Debt Service (TDS) ratio u to 44% for borrowers who have strong history of managing their payment obligations.

If you’re curious if these changes increase your buying power or change your mortgage application, give me a call or send me a message for more info!

07/06/2021

🚨 Consider this when car shopping 🚨

A $500 monthly car payment can decreases your mortgage qualification by $50,000.

Car loans typically range from 2 - 8 years!

That is a long time to have your buying power affected.

05/27/2021

📣Important changes to the stress test!📣

💥Effective June 1, 2021💥

All mortgages, whether insured or uninsured are now subject to the new qualifying rate.

You will have to qualify at 5.25% (previously 4.79%) or the contact rate plus 2%

Any of my client’s who have been pre-approved, thinking about purchasing a home, refinancing etc. Please reach out to me and lets re-examine your qualification and see how much this change has altered your buying power.

04/29/2021

Many Canadians are under the assumption their mortgage is as good as done once they have a mortgage pre-approval. But the truth is a buyer cannot expect a mortgage pre-approval will automatically translate into a mortgage. The lender now needs to consider the property itself, approve all the terms a...

Address

Langley, BC
V2Y1G9

Telephone

+17789951542

Website

https://www.mortgageweb.ca/KaylaArmstrong

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