Mortgagenomics Canada

Why is it that banks differ in how much mortgage they approve you for? Even though all banks use the same qualification formulas, there are some banks that have additional boosters that can propel you to higher qualification amounts. Key points:Mortgage Approval Pro Tip #1: Down Payment and Amortization affect your maximum mortgage amount Mortgage Approval Pro Tip #2: After income, debt is the next major mortgage qualification killerMortgage Approval Pro Tip #3: Avoid using CMHC if you want to qualify for the absolute maximum mortgageMortgage Approval Pro Tip #4: Be aware of non-income qualification boosterslisten to the complete episode for more details!ALSO INCLUDED: an Marko-Gelo-Garage-Band creationMarko Gelo Garage Band Sessions: (produced and performed my Marko)"Cheap Money" ...intro song (0:41)"GeorgeQ" ...outro song, full version (1:57)all instrument and vocal tracks performed by Marko Gelomusic tracks arranged and produced by Marko GeloContact Marko, he's a Mortgage Broker:604-800-9593 di

How mortgages will play a key role in how Canada's financial system rebounds in the post-COVID era.Ready or not, here we go.Key points:8 weeks in isolation and the resulting impact on mortgage qualification and Canada's financial systemCanada's life saver...our general conservative nature (move ahead with caution approach)yesterday's compromises will be today's toolseverything is political...except mortgage qualificationis the next industrial revolution upon us? ...one economist thinks solisten to the complete episode for more details!ALSO INCLUDED: an unfinished Marko-Gelo-Garage-Band creation (sneak-peak)Marko Gelo Garage Band Sessions: (produced and performed my Marko)"Cheap Money" ...intro song (0:41)"GeorgeO" ...outro song, instrumental version (1:57)all instrument and vocal tracks performed by Marko Gelomusic tracks arranged and produced by Marko GeloContact Marko, he's a Mortgage Broker:604-800-9593 direct Vancouver403-606-3751 direct Calgarymarkogelo.comhomefinancingsolutions.caApply fo

Key points:behind the scenes with (COVID19) appraisal procedures and value determinationunderstanding the impact of loan-to-value ratios on your mortgage qualificationpreparation for your appraisal during COVID19real estate value trends since COVID outbreakact now, or later?listen to the episode for more details!ALSO INCLUDED: past Marko-Gelo-Garage-Band creationsGuest Contact: No GuestsMarko Gelo Garage Band Sessions: (produced and performed my Marko)"Cheap Money" ...intro song (0:41)"Economies of Scale" ...outro song (1:09)all vocal tracks performed by Marko Gelomusic tracks arranged and produced by Marko GeloContact Marko, he's a Mortgage Broker:604-800-9593 direct Vancouver403-606-3751 direct Calgarymarkogelo.comhomefinancingsolutions.caApply for a MortgageFacebook@markogelo (Twitter)MarkoMusic (SoundCloud Account)...all podcast music tracks are performed and produced by MarkoClick Here to download Marko's Mortgage App (information, rates, calculators, etc) See acast.com

Key points:access to fully discounted interest rates - not POSTED RATESability to move to another lender without penaltyoption to change the terms and features of your new mortgageoption to pay off any lingering debt without incurring any break feeshow to become fully optimized and prepared for your mortgage renewal with minimal effortlisten to the episode for more details!ALSO INCLUDED: a brand new Marko-Gelo-Garage-Band song...check it out. "Sunday Nights"Guest Contact: No GuestsMarko Gelo Garage Band Sessions: (produced and performed my Marko)"Sunday Nights" ...intro song (1:56)all vocal tracks performed by Marko Gelomusic tracks arranged and produced by Marko GeloContact Marko, he's a Mortgage Broker:604-800-9593 direct Vancouver403-606-3751 direct Calgarymarkogelo.comhomefinancingsolutions.caApply for a MortgageFacebook@markogelo (Twitter)MarkoMusic (SoundCloud Account)...all podcast music tracks are performed and produced by MarkoClick Here to download Marko's Mortgag

Key points:when bond yields go down, mortgage rates are supposed to follow...not these daysif Prime Rate goes down, do fixed rates also go down?where are interest rates in Canada headed?What is the "Bank of Canada" and what is its purpose?how to capture the best interest rate for your upcoming mortgage renewallisten to the episode for more details!Guest Contact: No GuestsMarko Gelo Garage Band Sessions: (produced and performed my Marko)"23 days in Berlin" ...intro song (1:17)all vocal tracks performed by Marko Gelomusic tracks arranged and produced by Marko GeloContact Marko, he's a Mortgage Broker:604-800-9593 direct Vancouver403-606-3751 direct Calgarymarkogelo.comhomefinancingsolutions.caApply for a MortgageFacebook@markogelo (Twitter)MarkoMusic (SoundCloud Account)...all podcast music tracks are performed and produced by MarkoClick Here to download Marko's Mortgage App (information, rates, calculators, etc) See acast.com/privacy for privacy and opt-out information.

Key points:YES - most Canadian banks are making the ability to defer your mortgage payments available for eligible applicantsYES - the ability to defer for UP TO 6 months seems to be the generally promoted tenure of deferring your paymentsYES - for those that are anticipating hardship, you need to inquire and apply with, or at the very least inform your lender that you may possibly be defaulting on your next payment. Whatever you do, don’t do ABSOLUTELY NOTHING. If you have already missed a mortgage payment and haven’t had the chance to be proactive about it, continue on the path and try to reach them to explain your situation and proceed to formally apply for the programYES - lack of action from you PRIOR to your first missed mortgage payment will likely impact your credit score. The key is to be forthcoming and proactive - I can’t stress this enough.YES - you will be on the phone or waiting for an online response for a very long time...this is normalYES - you may possibly have to re-apply for the

Subtitle4 reasons to use a mortgage brokerSummaryKey points:the Big 5 Banks in Canada...how many other lenders are there?4 reasons to use a mortgage broker: (i) there's always a Plan B (ii) engage lenders to compete for your business (iii) interpreting the fine print of all lenders (iv) you won't know what you don't knowand much more..Guest Contact: n/aMarko Gelo Garage Band Sessions: (produced and performed my Marko)"ManicPanic" ...intro songContact Marko, he's a Mortgage Broker:604-800-9593 direct Vancouver403-606-3751 direct Calgarymarkogelo.comFacebook@markogelo (Twitter)MarkoMusic (SoundCloud Account)...all podcast music tracks are performed and produced by MarkoClick Here to download Marko's Mortgage App (information, rates, calculators, etc) See acast.com/privacy for privacy and opt-out information.

Key points:average Canadian owes $1.78 for every $1 earnedwhat happens to your credit when: you are behind in payments, your credit card is max'dreach out for a consultation sooner than later - when it comes to credit, time is always of the essenceapplications and examples of consumer proposalsyou can still qualify for a mortgage if you had a consumer proposal or even if you've been bankruptand much more..Guest Contact: Michael Goldenberg (Debt Care Canada): 1-888-890-0888 phone, mgoldenberg@debtcare.caMarko Gelo Garage Band Sessions: (produced and performed my Marko)"and now for the guest of the show" ...guitar, vocals (lead and harmony), Apple Garage Band loops"sunny days"...outro track, acoustic guitar, bass guitar, drums, keyboardContact Marko, he's a Mortgage Broker:604-800-9593 direct Vancouver403-606-3751 direct Calgarymarkogelo.comFacebook@markogelo (Twitter)MarkoMusic (SoundCloud Account)...all podcast music tracks are performed and produced by MarkoClick Here&

Key points:what does "remediated grow op" mean?how do you know if you are buying a property that was once a marijuana grow op?will banks approve your mortgage if your property was previously a grow op?growing marijuana is legal, does that mean your tenant can do so?home insurance and legalized marijuana legislation...what to be aware ofand much more..Contact John Darel (Realtor, Maxwell Canyon Creek Realty): 403-861-2733 cell, jdarel@johndarelrealty.caMarko Gelo Garage Band Sessions: (produced and performed my Marko)"and now for the guest of the show" (guitar tracks and vocals by Marko Gelo, the rest of the tracks are Apple Garage Band loops)"fight the day"...an original song by Sleeping Lorry (a band Marko played in back in the early 90's); vocals & rhythm guitar by J. Vulic, background vocals and lead guitar by M. Gelo, Bass Guitar by D. Kulas, Drums by R. Vulic)Contact Marko, he's a Mortgage Broker:604-800-9593 direct Vancouver403-606-3751 direct Calgarymarkogelo.comFacebook@markogelo&nb

Key points:which party's housing affordability appeals to you most?verifying the source of your down payment - what do the banks expect?what if Bank of Mom & Dad contribute towards my down payment?how long must you have ownership of your down payment proceeds before you move in?money can be transferred into Canada from around the world (for mortgage down payment purposes) EXCEPT three countriesMarko Gelo Garage Band Sessions: (produced and performed my Marko)the opening track features a piece called "TheThingAboutMoney" (acoustic and electric guitars, 5 piece acoustic drum kit, Latino Percussion, HandClapping, Chanting, Fender Precision Bass, vocals). Laid down three vocal tracks for the chanting, another three for the main vocals (2 tracks harmonizing and the third was a low bass note sustained on the last lyric of every verse). Wanted to add synthesizer for some ambience, but the guitars were recorded out of tune...just kept it all guitar as a result.Contact Marko, he's a Mortgage Broker:604-800-95

A short talk about the newly launched First Time Home Buyer Incentive program in Canada.Key points:how does it work?how do you qualify?where do you apply?Canada only programFor more details about FTHBI: https://www.placetocallhome.ca/fthbi/first-time-homebuyer-incentiveMarko Gelo Garage Band Sessions: (produced and performed my Marko)the opening track features a piece called "KryptoKurrency" (acoustic and electric guitars, intro drum machine, 5 piece acoustic drum kit, hammond organ, vocals). Inspired by Deep Purple, one of my favourite bands.Episode Cover Photo by Tia Gelo.Contact Marko, he's a Mortgage Broker:604-800-9593 direct Vancouver403-606-3751 direct Calgarymarkogelo.comFacebook@markogelo (Twitter)MarkoMusic (SoundCloud Account)...all podcast music tracks are performed and produced by MarkoClick Here to download Marko's Mortgage App (information, rates, calculators, etc) See acast.com/privacy for privacy and opt-out information.

Key points:summary of economic and political factors that surround Calgarylife after the provincial election (April 2019)impact of reduced big oil/gas private investmentnew legislation/bills directed at reviving the economyCalgary inventory stats...19% decrease in listings (year over year)Active buyers on the rise (buyers market)Popular Mortgage Product/Strategy in Calgary: the Purchase+Improvement Mortgagewhat can $500,000 buy you in Calgary?MarkoMusic tracks: (produced and performed my Marko)the opening track features a piece called "BagOfCash" (acoustic guitars, 3-part progressive harmony, distorted electric guitars - simple melody runs, no bass guitar, heavy floor and bass drums, wind pipe organ, electric piano). Kinda has a Tragically Hip feel at the beginning, then it turns into a big shakedown of wildly blended arrangements. My longest track so far...2 minutes 58 seconds.the closing track is from a past episode (Episode 15)...song is called, "TheQualifier" (piano intro and SonicYouth kind of endin

Key points:3 main points lenders zone in on when adjudicating your income for a mortgage:Is your income taxed at source?Is your employment & Income guaranteed?Employment TenureMarkoMusic tracks: (produced and performed my Marko)the opening track features a piece called "BrokenRingFinger" (distorted guitars with Phaser effects, 4-part progressive harmony, upright studio bass, synthesizer effects, keyboard)the closing track is from a past episode (Episode 4, Squamish Real Estate)...song is called, "EconomiesOfScale" (clean guitars, Mr.Rogers kind of feel with rare vocals from Marko...2 part harmony)Contact Marko, he's a Mortgage Broker:604-800-9593 direct Vancouver403-606-3751 direct Calgarymarkogelo.comFacebook@markogelo (Twitter)MarkoMusic (SoundCloud Account)...all podcast music tracks are performed and produced by MarkoClick Here to download Marko's Mortgage App (information, rates, calculators, etc) See acast.com/privacy for privacy and opt-out information.

When it comes to mortgages, there are two charges that a bank can apply to your land title. This episode explains the key differences between a standard and collateral charge mortgage.Key points:standard charge mortgages are the most common chargescollateral charges are re-advancable and non-transferrablebe cautious about taking the path of least resistance when it comes time to renew your mortgage. It may be a little more work, but be sure to explore ALL of your options (with a Mortgage Broker!)MarkoMusic tracks: (produced and performed my Marko)the opening track features a piece called "Collateralization" (distorted harmonizing guitars with a slow punk drum groove in a 1-4-5 chord progression)the closing track is a song from a band that Marko played in (1990-99ish), Sleeping Lorry. Song is called, "Go".Sleeping Lorry: Joseph Vulic (guitar-vocals), Marko Gelo (lead guitar-mandolin-back vocals), Darko Kulas (bass guitar), Robert Vulic (drums)Contact Marko, he's a Mortgage Broker:604-800-9593 direct Vanco

Lenders have absolutely no motivation or desire to explain how YOU can pay off THEIR mortgages sooner. This episode explains the key methods that you can implement right now and put yourself on a (much) quicker path towards mortgage freedom.The following is discussed in this episode:lump sum payments and the impact they have on your mortgage principleincreasing your mortgage payment, even by $20...does this really make a difference?choosing the most effective payment frequency...whats the difference between monthly payments and bi-weekly payments?Contact Marko, he's a Mortgage Broker:604-800-9593 direct Vancouver403-606-3751 direct Calgarymarkogelo.comFacebook@markogelo (Twitter)MarkoMusic (SoundCloud Account)...all podcast music tracks are performed and produced by MarkoClick Here to download Marko's Mortgage App (information, rates, calculators, etc) See acast.com/privacy for privacy and opt-out information.

There are a lot of illegitimate (crappy) mortgage pre-approvals out there...make sure yours isn't one of them.The following is discussed in this episode:the client interview (application process to qualify for a mortgage pre-approval)signs of a illegitimate mortgage pre-approvalhow to avoid getting a illegitimate pre-approvalwhat should your mortgage pre-approval includethe key points/items of a legitimate mortgage pre-approvalContact Marko, he's a Mortgage Broker:604-800-9593 direct Vancouver403-606-3751 direct Calgarymarkogelo.comFacebook@markogelo (Twitter)MarkoMusic (SoundCloud Account)...all podcast music tracks are performed and produced by MarkoClick Here to download Marko's Mortgage App (information, rates, calculators, etc) See acast.com/privacy for privacy and opt-out information.

Discussion on the sequence of (critical) events leading up to the subjects removal date of your real estate contract. See acast.com/privacy for privacy and opt-out information.

The following is discussed:Mortgage Programs for 1st time and repeat home buyers:Minimum Down PaymentPurchase Plus Improvement Mortgage (apply for a renovation supplement to your mortgage the day you make an offer on a home)Self Employed Applicants...are they treated differently?New To Canada: mortgages for new Canadian Citizens, Permanent Residents, or Non-Permanent ResidentsNon-Mortgage Programs for 1st time and repeat home buyers:GST rebatestax free RRSP withdrawal rulesGST rebatesProperty Transfer Tax rebates and exemptions**The feature song for this episode is "Insanity" (Produced/Performed by Marko Gelo)**For past episode music tracks, visit MarkoMusic (SoundCloud)**For immediate Mortgage Advice text Marko at 604-800-9593 BC, or 403-606-3751 AB See acast.com/privacy for privacy and opt-out information.

Risk factors that influence mortgage qualification guidelines See acast.com/privacy for privacy and opt-out information.

INTRO: What really goes on when you pick up the phone, go online, or walk inside a bank and ask, "what's your best 5 year rate?" (or any other rate for that matter). If you haven't noticed by now, the answer to that question from your mortgage broker or banker has gotten very confusing and at times either misleading or simply mistakenly quoted. To be fair, there are many brokers and bankers who deliver the message correctly on their first go...but probably not without several disclaimers and underlying conditions. Now why is this? Why can't the answer be easy? How and why, could their possibly be 4 different quotes for the same 5 year fixed rate product WITH THE SAME LENDER? Why does the rate shopper have to provide several personal details so the broker or banker can determine the precise interest rate? The answer is simple, kinda. Todays lending environment and Canada's complex real estate market diversity from coast to coast has become a complicated web of risk manag