blog Wu Liu 劉武 19 Mar

With the mortgage rule changes in recent years, lenders have had to make some adjustments to their rate offerings.

There are different tiers and rate pricing based on the following 3 categories:
1) Insured – a mortgage that is insured with mortgage default insurance through one of Canada’s mortgage insurers, CMHC, Genworth or Canada Guaranty. A mortgage insurance premium based on a percentage of the loan amount is added to and paid along with the mortgage
2) Insurable – a mortgage that may not need mortgage insurance (20% or more down payment) but would qualify under the mortgage insurers rules. The client doesn’t have to pay an insurance premium but the lender has the option to if they choose.
3) Uninsurable – a mortgage that does not meet mortgage insurer rules such as refinances or mortgages with an amortization longer than 25-years. No insurance premium required.

Insured mortgages are the safest type of mortgage loan for the banks and the most cost-effective way of lending mortgage money, so clients seeking or in need of an insured mortgage will get the best rate offering on the market.
Insured as well as Insurable mortgages can be bundled and sold as Mortgage Backed Securities (MBS) meaning banks can get that money back quickly so they can lend more out. While Insured mortgages get the best rates, Insurable mortgages are typically a close second.

If a mortgage is Uninsurable that means the banks have to lend their own money and have to commit to that loan for the full term at least. This makes it a more expensive loan for the bank, so they pass the cost on to the consumer as a premium on the rate – typically 10-20 basis-points.

While there are rumours that the Government may start to allow refinances and 30-year amortizations to be insured again, no formal announcements are expected in the next few months.
In the meantime, consumers looking to tap into the equity they’ve built (consolidation, investment, home renovations) or wanting to keep their payments as low as they can (30-year amortization) are paying the price.
If either a refinance or a longer amortization is something you are considering, it’s wise to have a free analysis of your mortgage done so you can make an informed decision. If you have any questions, please contact DLC mortgage broker Wu Liu. THanks


blog Wu Liu 劉武 19 Mar

Transfer/Switches are when you opt to transfer your mortgage to a new lender in order to take advantage of a lower rate. A transfer/switch does not include additional money to the existing mortgage balance owing, your mortgage amount will remain the same, however lenders will allow you to increase the mortgage up to $3,000 to cover legal costs, possible appraisal fees and if applicable, penalty fees – more on that below.

*Note: If you do require new money or funds (more than $3,000.00) this would then be considered a refinance.

There are two scenarios where you would utilize a Transfer Switch:

1. When your mortgage term is up, and the mortgage is renewing with your existing lender. If you choose to transfer/switch your mortgage at renewal you will not have to pay a penalty. You will still need to qualify and there may be legal and appraisal costs associated with the transfer/switch, just as you would with a new mortgage. However, many lenders offer you the option to include the legal and appraisal fees into you new mortgage and some lenders may cover these costs for you.
2. The second scenario you may choose to do a transfer/switch is when you are in the middle of the term of your mortgage. The only reason you would do this is to take advantage of a lower rate which means a lower monthly payment. This would have to make sense financially for you to do as you will have a penalty associated with breaking the current mortgage.

If your mortgage is up for renewal, or if you are considering a transfer/switch in light of recent rate changes, a mortgage broker can assist you in making the right decision. Similar to when you first financed your mortgage, having a broker assist you gives you:

Reputable brokers have your best interest in mind first!

Your mortgage professional will shop the market to find the best overall cost of borrowing for the client. Broker’s will look at all angles of the product to ensure that the client is getting one that will suit their unique and specific needs. Not once will the client be expected to shop their mortgage around or to speak to the lender.

A mortgage professional has access to:
• Tier 1 banks in Canada
• Credit Unions
• Monoline Lenders
• Alternative Lenders
• Private Lenders

This extensive network of lender options allows brokers to ensure that you are not only getting the sharpest rate, but that the mortgage product is also aligned with the client’s needs.
Now, a few details that you should know before you transfer/switch your mortgage:

Just like when you went through the process the first time, you will have to supply documents to the new lender in order to transfer/switch.

As mentioned above, there costs associated with your transfer/switch. If your mortgage is up for renewal and you are opting to transfer/switch these may include admin and legal fees. If you are opting to transfer mid-term to take advantage of a lower rate with a different lender, these may include your penalty and legal/admin fees. However, many lenders will offer up to $3,000 financed into your mortgage to assist in covering these if applicable

With a transfer/switch, you are required to pass any and all regulations and stress testing measures may be applicable, however If you are looking at a transfer/switch and your previous mortgage funded prior to November 30, 2016 old mortgage rules apply (no stress test is required). This means
• You are grandfathered in previous under mortgage rules
• You can qualify at the contract rate rather than the stress test of contract rate plus 2% or the benchmark rate (currently at 5.34%)
• In simple terms: no stress testing required.

Before you consider moving, you should run through the numbers with a broker and ensure you qualify. To find out more about stress testing measure, click here.

If you are switching/transferring mid-term a penalty will apply to your mortgage. To find out what that penalty will look like, you can check out our article here, but we also encourage you to speak to your Dominion Lending Centres mortgage broker and have a clear understanding of what you will be paying out. If you are up for renewal and are looking to transfer, you will not have to pay a penalty and may or may not have the aforementioned fees associated with setting up the new mortgage with a new lender.

Remember, a broker is there to work with you to determine if a transfer/switch is right for you and to help you establish which lender will give you not only the best rate, but the most suitable mortgage product too!

又到一年报税季 报税与贷款有啥关系?

blog Wu Liu 劉武 3 Mar



在加拿大,要成功获得银行贷款,第一要素就是收入。而银行如何衡量一个人的收入,则主要是看税单Notice Of Assessment, T1 General, T4A 或 T4这些文件上面的数据。这也是为什么许多客户现金收入很多,投资很多,但是却难以获得贷款的原因。


01 投资收入较高,工作收入较少

在报税的时候,如果客户的收入大部分为资本利得Capital Gain,难以证明这个收入的可持续性,那这部分资本利得的收入也有可能不会被银行所认可,无论是在个人报税还是在企业报税上都是一样。曾经有一个案例,客户通过自己的企业的报税,来辅助证明自己的收入,但是由于Financial statement(公司财务报表)上面显示short-term investment(短期投资) 的收入部分有将近20万,导致了银行认为收入不可持续,因此拒掉了这个单子。可见,短期不可持续的收入属于贷款审核中收入的灰色地带。而实打实的可持续的工作收入,才比较容易被银行所认可。

02 收入忽高忽低

贷款的时候,银行往往需要看过去两年的收入水平,也就是说申请人需要提交两年的税单来证明自己的收入状况。倘若有一年的收入相对过低,而且没有合理的解释,也会拉低整体的收入水平。尤其是自雇的人士,收入相对来说不太稳定,银行更需要看两年的收入文件,包括两年的Notice of assessment, T4A, commission slip等文件来反复证明确认收入状况。因此,有贷款需要的人士,也要结合自己以往报税的情况来推敲自己今年应该如何报税。而对于转行的人士,如果只是跳槽还好,但是如果直接换了行业,比如说从餐馆打工换到了金融分析师,或者是从非自雇转成了自雇,那么收入的可信度就会降低,贷款的难度就会增加许多。

03 租金收入的核算问题

关于租金收入的问题,可以说每个银行不同的政策,对租金这块的核算是各有不同的。如果客户想要通过租金收入来支撑自己的收入状况,最好先和贷款经纪问清楚,自己有可能走哪个银行,会运用到什么样的政策,需要在报税上如何体现自己的租金收入。一味的报高收入是没有意义的,因为银行也有详细的政策和方法去核实收入的可持续性和真实性。针对租金的收入这一项,有些银行甚至会在估价的时候加入market rent(市场租金估值)这一栏目,因此无论客人报税报租金收入有多少,银行也会用估价师所提供的market rent来作为参考的基准。

更多贷款资讯,请拨打 778-686-2058 贷款专家 劉武


blog Wu Liu 劉武 3 Mar




此外,申请贷款的时候,除了原本的Notice of Assessment(退税单)之外,还可以追加T2125生意或者其他收入报表来作为收入的证明,证明自己的收入和还款能力。

考虑到目前自雇人士占加国人口的15%,CMHC首席商务官布尔斯(Romy Bowers)表示,加拿大自雇人士是本国劳动力的重要组成部分。新的政策变化,是通过让身为自雇者的借方更容易获得CMHC的房贷保险,并受益于有竞争力的利率,以迎对现状。

如果有任何自雇贷款的问题 请联系 贷款专家 劉武 778-686-2058

2018年贷款回顾: 楼花交接已成2018贷款重灾区 经典案例分析

blog Wu Liu 劉武 11 Jan




1. 名下房子套现
对于名下已经有别的房产,或者是家里人可以有房产拿出来抵押的客人,我们可以选择重新贷款或者二贷的处理办法。重新贷款就是Refinance,将房子的贷款换去别的银行,增大贷款额,差价作为可以拿出来使用的现金。例如客人名下有100万的房子,贷款额只剩40万,我们帮客户做Refinance转去另一个银行,贷款额增加到65万,减去原银行的40万,客户可以拿出使用的钱就有25万。这样操作的好处是利率较低,都能够维持在正规银行的利率,同时手续费较低,没有高额的lender fee。缺点就是,这样的申请周期较长,一般都要一个月以上;同时也要综合客户本身的收入或者是资产以及信用等方方面面的条件,才能知道有没办法贷的出来。

而二贷就是second mortgage,房子的原贷款银行不变,在后面加上一个贷款。例如上面那套房子,客户原本的贷款额40万不动,直接找私人银行借多25万。这样的好处是灵活,可以操作成open的方式,随借随还。同时借款需时较短,最快2-3天就可以拿到钱。但是缺点就是利息比较高,市面上的二贷都要10-12%的年利息,1-4%不等的lender fee。

因此,面对时间还比较充足的客人,先做Refinance拿出钱来是比较好的方式。而对于已经火烧眉毛的客人,second mortgage也不失为解决燃眉之急的一种办法。

2. 增大LTV
LTV, 全称Loan To Value,就是指贷款额占房价的比例。比如说房屋的买价是100万,房屋的估值是90万,65%LTV就代表银行能够给客户贷出90*65%=58.5万。那么客户原本按照100万准备的首付只有35万,但是因为估值降了10万,客户自己还需要多补6万5。如果客户一开始就知道自己估价有问题,那可以按照80%申请,那么银行能够贷出来的钱就是90*80%=72万,那么客户就不用再多补钱了。


3. 重新估价

4. 私人贷款
对于时间紧迫,或实在是在市场不好的情况下不想忍痛割肉卖的客户,私贷也不失为解决燃眉之急的一种办法。等成交后,先把房租出去收租金,等房市好时在卖。贷款条件:35%首付,不用看收入,放款快,一般都是open 只还利息,随借随还,利率在7%起。


如果有您手里有楼花即将成交 又头疼于贷款的问题 可以电话Fanson Capital楼花贷款专家咨询:Wu liu 778-6862058

又到一年Renew时 摆在客户面前有什么选择?

blog Wu Liu 劉武 11 Jan


这个对于客户来说是最容易操作的选择。只要在收到renew package(续期文件)的时候,将文件签好拿回给银行即可。而对于那些通过broker做的客户,不妨找回原来的broker签署authorization form(授权书),让broker帮助自己去申请更低的利率,或者是免掉renew fee(续期费用)。因为相对于客户而言,broker和银行的联系更多,能够拿到更好的利率的可能性更大。

要注意的是,一般情况下,客户应该在要到贷款期限一个月到两个月的时候就能收到renew package。如果在贷款期限将要到一个月内还没有收到文件,应该立刻联系银行或者broker,拿到贷款续期文件,不然可能会耽误续期,造成不必要的麻烦。




一方面,要看房子的大概市场价值乘以65%-80%再减去自己现在本身的贷款额,多出来的部分是否足以满足自己的套现需求。另一方面,自己的收入,身份等,都会影响到套现能够套多少。在目前的市场行情下,大部分套现的单子最大的问题,就是房子的市值不够,相对起客户的预期有所下降。因此,客户在进行套现的规划时,一定要先请有经验的mortgage brokerage看过自己房子周边的市场价格,再进行套现的准备。

如果对renewal和refinance有任何问题 请随时联系贷款专家劉武:778-6862058


blog Wu Liu 劉武 10 Jan

If you have a mortgage, you’ll be completing a mortgage renewal when your current term has finished.
While most Canadians spend a lot of time and expend tons of effort shopping for an initial mortgage, the same is generally not the case when looking at mortgage renewals.

So what is a mortgage renewal?

Mortgages terms are locked in rates that are *over a set term* which can vary from 1-10 years.

About 3 months before the end of your term, your current lender will suddenly become your best friend showering you with attention and trying to entice you with early renewal offers…And the first offer is never their best. It really shows how they value the relationship.
“Please, please sign here on the dotted line to renew… it’s sooo easy!!”

You have 3 options

1. Sign and send back with no alterations or changes (don’t do it, really I mean it… don’t do it!!)
2. Check the market to make sure you are getting the best rate and renegotiate with your current lender
3. Talk to a mortgage expert and together we can discuss the best options available for your situation

Lenders know that 80% of people will sign their renewal forms because it’s fast, easy and convenient. Banks & lenders push this “take it as it is” tactic to borrowers to ensure they make the highest profits to keep their shareholders happy. As an educated consumer, you need to take the time to ensure you are being offered the best possible rate & terms you can get.
Remember all those hours of research you did regarding lenders and mortgage rates when you were buying your first home… don’t forget!
It is true that signing the renewal document is easy, however it is in your best interest to take a more proactive approach. Money in the lenders pocket comes directly out of your pocket.

5 steps to save you money on your mortgage renewal

1. Receive the renewal offer from your current mortgage lender and examine immediately. This gives you enough time to make an informed decision
2. Do your online research about the best current rates for you
3. Call your current lender and negotiate!
4. If your lender will not offer you a better rate then it is time to move your mortgage. You will have to complete a mortgage application and gather applicable documentation just like you did for your original mortgage, but I will help with most of the work!
5. Take a look at your budget and see if you can increase the amount of your mortgage payments. This will eventually save you money by paying off your mortgage faster

Your mortgage is one of your biggest expenses. For this reason, it is so important to find the best interest rates and mortgage terms you possibly can.

As you can tell there is lots to discuss about mortgage renewals. I can help. Contact me TODAY!