Darrell Lesueur Mortgage Broker

Darrell Lesueur Mortgage Broker Providing all manner of Residential Mortgage financing.Purchases,Renewals,Equity Take Out and Debt consolidation.

Be aware of the following implications if you're considering co-signing a loan as a way to help a family member or loved...
05/12/2026

Be aware of the following implications if you're considering co-signing a loan as a way to help a family member or loved one overcome stress testing and borrowing limits:

➡️ Credit History: If you are acting as a co-signor on any loan, you essentially allow access to your credit history. This means, if the borrower is late on the payments or there are issues with the loan, it will affect your credit score as well as theirs.

➡️ Legal Implications: Always be sure to understand the taxes, legal and estate situations that go along with co-signing, should the borrower fail to pay.

➡️ Timeline: Understanding how many years the co-signer agreement will be in place and your options for making changes will help you determine when the borrower could be able to assume the entirety of the mortgage on their own.

➡️ Personal Income Tax: Depending on the loan, you may have an obligation to pay capital gains taxes so it is a good idea to review your personal tax situation with an accountant prior to signing off on the co-borrower agreement.

➡️ Relationship with Borrower: Do you trust the individual? Are you aware of their financial situation? Are you willing to potentially put yourself at risk to assist them? Many of us may want to help out family or loved ones, but it is important to ask these questions to ensure that the individual is reliable.

➡️ Future Finances: Consider your future finances and if you have any future plans that could be impacted by an additional loan. How much flexibility do you need for yourself and your family? If you have plans to refinance for a renovation or make changes to your own mortgage, being a co-signor could affect your options.

Reverse Mortgages 101 - Eligibility and ApplyingEven though reverse mortgage products have their own unique guidelines, ...
05/07/2026

Reverse Mortgages 101 - Eligibility and Applying

Even though reverse mortgage products have their own unique guidelines, the eligibility requirements tend to be fairly common. To be eligible, you must:

1️⃣ Be at least 55 years old. Anyone else on the home’s title must also be 55 or older.
2️⃣ Own the home you expect to borrow against, and live in it as your principal residence.
3️⃣ Own a home that’s worth at least $200,000 (HomeEquity Bank may require a minimum value of $250,000).

Getting a reverse mortgage generally begins by completing an estimate on a lender’s website. Doing so will give you a general idea of how much you’ll be able to borrow.

When evaluating your application and determining the maximum amount of your loan, lenders will look less closely at your credit score and focus more on:
👉 Your age.
👉 The location and condition of your home.
👉 Your home’s appraised value.

During the application process, you must include all individuals listed on the title. Lenders may also ask you to get legal advice regarding a reverse mortgage. Proof of having received this advice may be required.

Do you have more questions about reverse mortgages? I'm happy to help. Book a free 30-minute mortgage information call today: https://calendly.com/chatmortgageswithdarrell

Mortgage life insurance is a life insurance policy on a homeowner, which will allow your family or dependents to pay off...
05/05/2026

Mortgage life insurance is a life insurance policy on a homeowner, which will allow your family or dependents to pay off the mortgage on the home should something tragic happen to you.

Mortgage default insurance is something lenders require you to purchase to cover their own assets if you have less than a 20% down payment.

Mortgage life insurance is meant to protect the family of a homeowner and not the mortgage lender itself.

Have questions about your mortgage? I'm happy to help. Book a free 30-minute mortgage information call today: https://calendly.com/chatmortgageswithdarrell

Reverse Mortgages 101 - Types of Reverse MortgagesAs with typical mortgages, reverse mortgages come in different types. ...
04/30/2026

Reverse Mortgages 101 - Types of Reverse Mortgages

As with typical mortgages, reverse mortgages come in different types. When considering a reverse mortgage product, you’ll have to choose between an open or closed mortgage agreement and decide whether whether you’d prefer a variable or fixed mortgage rate.

Reverse mortgage types also differ in how they allow you to receive your money. Some products let you access your entire mortgage amount upfront; others combine an initial lump-sum payment with smaller withdrawals that can either be scheduled or made at your discretion.

What is the CHIP Reverse Mortgage?

The CHIP Reverse Mortgage is Canada’s oldest and most widely-used reverse mortgage. It was HomeEquity Bank’s first reverse mortgage product, known in its early days as the Canadian Home Income Plan. It was rebranded as the CHIP Reverse Mortgage in 2014 and is now one of several different reverse mortgage options available from the company.

Have questions about reverse mortgages? I'm happy to help. Book a free 30-minute mortgage information call today: https://calendly.com/chatmortgageswithdarrell

No surprises today.
04/30/2026

No surprises today.

Most lenders enable lump-sum payments and increased mortgage payments to a maximum amount per year. But, since each lend...
04/28/2026

Most lenders enable lump-sum payments and increased mortgage payments to a maximum amount per year. But, since each lender and product is different, it’s important to check stipulations on prepayments prior to signing your mortgage papers.

Most “no frills” mortgage products offering the lowest rates often do not allow for prepayments. As well, please note that some lenders will only let you make these lump-sum payments on the anniversary date of your mortgage while others will allow you to spread out the lump-sum payments to the maximum allowable yearly amount.

Have questions about your mortgage? I'm happy to help. Book a free 30-minute mortgage information call today: https://calendly.com/chatmortgageswithdarrell

Most mortgage products include prepayment privileges that enable you to pay up to 20% of the principal per calendar year...
04/23/2026

Most mortgage products include prepayment privileges that enable you to pay up to 20% of the principal per calendar year. This will also help reduce your amortization period (the length of your mortgage).

Another way to reduce the time it takes to pay off your mortgage involves changing the way you make your payments by opting for accelerated bi-weekly mortgage payments. Not to be confused with semi-monthly mortgage payments (24 payments per year), accelerated bi-weekly mortgage payments (26 payments per year) will not only pay your mortgage off quicker, but it’s guaranteed to save you a significant amount of money over the term of your mortgage. With accelerated bi-weekly mortgage payments, you’re making one additional monthly payment per year.

In addition to increased payment options, most lenders offer the opportunity to make lump-sum payments on your mortgage (as much as 20% of the original borrowed amount each year).

Have questions about your mortgage? I'm happy to help. Book a free 30-minute mortgage information call today: https://calendly.com/chatmortgageswithdarrell

Reverse Mortgages 101 - Using the CHIP Reverse Mortgage to Supplement your RRIFKey Points:✅ What is a RRIF? Unlike an RR...
04/21/2026

Reverse Mortgages 101 - Using the CHIP Reverse Mortgage to Supplement your RRIF

Key Points:
✅ What is a RRIF? Unlike an RRSP, a RRIF allows you to withdraw a certain amount each year once you reach a certain age.
✅ Tax Benefits: A RRIF acts as a tax-deferred retirement income fund, with interest and earnings untaxed until withdrawal.
✅ Minimum Withdrawal: Once converted to a RRIF, you must withdraw a government-determined minimum amount each year, based on age.
✅ Withholding Tax: Withdrawals exceeding the minimum can be subject to withholding tax rates.
✅ Supplementing Retirement Income: Consider the CHIP Reverse Mortgage to access tax-free cash from home equity and enhance cash flow.

Unlock the power of the CHIP Reverse Mortgage to boost your retirement income! Contact me for personalized guidance and learn how to preserve investments while enjoying financial flexibility. 💡✨

Dreaming of owning a home but struggling to save up for a down payment? It can be challenging to save up for a full down...
04/16/2026

Dreaming of owning a home but struggling to save up for a down payment?

It can be challenging to save up for a full down payment amount. Fortunately, there are programs available that allow you to utilize different forms of down payments:

✅ Cash-back products: Some lenders offer cash-back options. Cash back can be used to offset closing costs freeing up cash that may be used for increasing down payment.
✅ RRSP withdrawal: You can use funds from your Registered Retirement Savings Plan (RRSP) to contribute towards your down payment.
✅ Gifting from an immediate family member: If a family member is willing to gift you a portion of your down payment, this can be another viable option.

Did you know that some lenders offer cash-back products that can provide you with a down payment boost? It's worth exploring these options to expand your possibilities!

Refinancing your mortgage refers to the process of renegotiating your current mortgage agreement for a variety of reason...
04/14/2026

Refinancing your mortgage refers to the process of renegotiating your current mortgage agreement for a variety of reasons. Essentially, refinancing allows you to pay off your existing mortgage and replace it with a new one.

There are a variety of reasons to consider mortgage refinancing, including but not limited to:

✅ You want to leverage large increases in property value
✅ You want to get equity out of the home for upgrades or renovations
✅ You want to expand your investment portfolio
✅ You are looking to consolidate your debt
✅ You have kids headed off to college
✅ You are going through a divorce
✅ You want a better interest rate
✅ You want to convert your mortgage from fixed to variable (or vice-versa)

Questions about refinancing your mortgage? Reach out, I'm happy to help.

Address

220 Lonsdale Avenue
North Vancouver, BC
V7M2G1

Opening Hours

Monday 8:30am - 5:30pm
Tuesday 8:30am - 5:30pm
Wednesday 8:30am - 5:30pm
Thursday 8:30am - 5:30pm
Friday 8:30am - 5:30pm
Saturday 12pm - 7:30pm
Sunday 12pm - 5pm

Telephone

+16048164692

Website

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