Marko Gelo, Mortgage Broker in Calgary
909 - 17th Avenue SW T2T 0A4 Calgary, AB, Canada

Did you know that self employed mortgage applicants can qualify using a higher income than they declare on their personal income taxes? Yep, its true...read, or listen on below... https://www.homefinancingsolutions.ca//how-to-qualify-wit/

New episode, check it out! -> for some, down payment verification is a tedious/frustrating experience...understand why -> a recent press release about a coming vaccine and its immediate impact on interest rates Have a great week!... https://www.homefinancingsolutions.ca//rates-on-the-rise-/

My latest podcast episode talks about how to transfer ownership of a property when buying out a family member, or during a separation...check it out, stay well!

My latest podcast episode talks about two upcoming events that could potentially cause interest rates to rise in the coming months...check it out, have a great weekend https://www.homefinancingsolutions.ca//events-that-can-tr/

3 Golden tips everyone needs to be aware of regarding their credit scores, and much more...listen to my latest podcast episode, Credit Reports and Mortgage Qualification. https://www.homefinancingsolutions.ca//credit-reports-mor/

MORTGAGE QUALIFICATION TIP: Work with a broker that has access to at least 10 lenders/banks. Qualification guidelines vary from lender to lender and in some instances your application may be better suited with one lender than another. I have access to over 30 lenders and am able to present your application to every single one of them. The submission of your application to several lenders is seamless and the end result is impactful; approved mortgage and fully discounted inter...est rate. One Application, One Credit Check, and access to Canada's Top Lenders!

New podcast episode is up..."The Canadian Mortgaging Experience" https://www.homefinancingsolutions.ca//the-canadian-mortg/

MORTGAGE NEWS UPDATE: *there is talk of further tightening of mortgage qualification guidelines *If true, debt service limits will apparently be reduced and minimum credit score requirements will increase *rumoured date of changes slated for July 1 Here is an example of how this would impact an applicant with an annual income of $60,000:... > Today's Rules --> max qualification amount of $285,000 > Proposed Change --> max qualification amount of $250,000 Just a heads up! See more

Check out my latest podcast episode..."The secret to renewing your mortgage" https://www.homefinancingsolutions.ca//the-secret-to-rene/

Here's my latest podcast episode, "Why are mortgage rates going up?!"...have a listen https://www.homefinancingsolutions.ca//podcast-why-are-mo/

Listen to the most recent episode of Mortgagenomics Canada Podcast to learn more about the recently launched 6 Month Mortgage Payment Deferral Program https://www.homefinancingsolutions.ca//podcast-mortgages-/

Check out my podcast, "Mortgagenomics Canada"...selected as one of 30 podcasts to follow in 2020 - Thank you Subscribers! More episodes on the way, tune in! https://blog.feedspot.com/mortgage_podcasts/

Heads up to mortgage holders...rates have started creeping up in the last couple of days. But overall, they are still at historic lows...no need to panic, but just wanted to give a heads up if you are planning a purchase, renewal, or refinance - start the process now and save a few $$$ PM me if you have any questions... -Marko Gelo (Mortgage Broker)

My latest podcast episode is about personal debt and what to do when you reach that tipping point. If you're in a tight spot these days or know someone who is, take a few minutes and have a listen to my talk with Michael Goldenberg (President, Debt Care Canada) https://shows.pippa.io//_-stick-handling-your-way-out-of-a

Tune in to Mortgagenomics Podcast to learn more about the First Time Home Buyer Incentive...https://www.homefinancingsolutions.ca//podcast-first-time/

Mortgagenomics Canada Podcast, Episode 19...verifying income for mortgage qualification https://www.homefinancingsolutions.ca//podcast-proving-yo/

If your mortgage is coming up for renewal, call me before you sign anything...rates have come down in the past 24 hours. Some key points to know: (i) you can reserve rates up to 120 days ahead of your maturity, (ii) Your existing lender often doesn't offer their 'very best' at renewal time, ... (iii) If you need more time to close on your renewal, simply ask to be placed in the OPEN Variable Term...this allows your existing term to expire and leaves you in a mortgage that is "open" (open mortgages do not have break penalties) Call or message me if you would like to discuss more...have a great weekend!

New podcast episode: Mortgagenomics Topic: Qualification and Rebate programs for 1st time home buyers and repeat buyers https://itunes.apple.com//mortgagenomics-can/id1343367824

The 5 key mortgage qualification criteria...

Mortgage Interest rates are on the rise (fixed terms, not variable rate terms)...PM me if you have a pending renewal or if you're looking to refinance or purchase. But generally speaking...money is still cheap Also worth noting: *qualification criteria for self employed individuals has loosened up *rental property purchases require 20% down payment... *there's a variable rate war going on right now...some aggressive discounts in the market *HELOCs are only available up to 65% loan to appraised value *rates can be reserved for up to 120 days (but the banks are typically 90 days) Enjoy the heat wave!

Listen to this episode of Mortgagenomics Canada as we have a closer look at the confusing world of interest rate pricing...are you getting the best rate? If not, why??

Check the land title, then buy the house. -

Mortgagenomics Podcast, Episode 10...if you are planning to sell in todays market, you should listen to this episode as we talk about the science of determining your list price and the art of staging your home for optimal presentation... http://ow.ly/1ba330k99BY

Chief Economist of BC Real Estate Association is already talking of a rebound in Vancouver in the coming months http://ow.ly/9Cq430k0xHD

Mortgagenomics Podcast, Episode 9: discussion about the current state of real estate in Vancouver with Steve Saretsky (author of Vancouver's leading real estate blog, VanCityCondoGuide)... http://ow.ly/pp2d30jZ8GH

Episode 9 of Mortgagenomics Podcast: Vancouver Real Estate...a perfect storm? http://ow.ly/3pu930jZ8ot

The best kept financing secret for Canadians aged 55 and older. -

Mortgagenomics Canada Podcast Episode 8, the best kept financing secret for home owners 55 and over... http://ow.ly/wewo30jJFjC

Is your mortgage coming up for renewal? -

Episode 7 of Mortgagenomics Canada Podcast is live..."Who's buying real estate in North Vancouver?" http://ow.ly/I6ws30juSvY

The challenges and opportunities of Calgary's $600k to $1M property price band, the rental suite revolution and maximizing on your mortgage payments - listen to Mortgagenomics Canada Podcast: http://ow.ly/c48S30j8txr

India will soon overtake China as the number one contributor to global GDP... http://ow.ly/c33430j6OXn

Countries that work the most employable hours: http://ow.ly/ZhkN30j2Hfg Countries with the highest rate of home ownership: http://ow.ly/CtRL30j2Hpr I don't see a pattern.

If you listen to Podcasts, check mine out...Mortgagenomics Canada. I interview realtors in Western Canadian cities and talk about their markets, then talk a little mortgage, and in between feature my own tunes that I jammed out on Garage Band. Have a listen to Episode 5 - South Surrey, White Rock and mortgage down payment rules... http://ow.ly/j8FT30j2GwU

Complete an online review for me...and receive a $5 coffee card -

Listen to my Podcast (Mortgagenomics Canada)! Meghan Zuvalek of ReMax Sea to Sky Real Estate talks about the real estate opportunities in Squamish, BC. And on the mortgage front, a quick tutorial on mortgage "posted" rates...stuff the banks (Canada's Big 5) don't want you to know. New music intro/outro track, "Economies of Scale" http://ow.ly/x8Lj30iVbqo

Bank of Canada decides to leave interest rates as they are...but why? http://ow.ly/oAWk30iOLMY

The last time Vancouver was this unaffordable dates way back to... http://ow.ly/VtOI30iK5xQ

This is an article from 2017, but still good perspective. North America and Europe population growth will be moderate at best, but the rest of the planet is set for an explosive up swing. Here's a projected list of the cities that will make up the Top 10 list by 2030 ... http://ow.ly/LFgw30iK3wv

Here's a little loop hole area neat Vancouver where the foreign buyers tax policy doesn't apply... http://ow.ly/BYnC30iHknm

From 1973 to 1991 the 5 year fixed mortgage rate never dipped below 10%. Today, you can still get it in the low 3's, but for how much longer? http://ow.ly/k78z30iH5bz

Mortgagenomics Canada Podcast, Episode 3...hosted by Marko Gelo http://ow.ly/8ehI30iBQ8C

Tips to improve your credit score...6 of them http://ow.ly/72aU30iv1mw

Mortgagenomics Podcast, Episode 1: qualifying for a mortgage to purchase a rental property...fast forward to the "Mortgage Minute" (the 20 minute mark) http://ow.ly/KJNp30ifw5O

Mortgagenomics Canada Podcast, Episode 1: * Calgary millennials...purchase a home, or rent one? * How to qualify for a rental property mortgage * the latest Calgary real estate stats with John Darel (Maxwell Realty, Calgary) Listen Here: http://ow.ly/VDhZ30iaD85

MakingCents Podcast 6 | Mortgage Qualification in Canada + A short talk about the evolving landscape of mortgage qualification in Canada, lotsa moving parts http://ow.ly/nDxV30hZNVj

Check out this weeks podcast: Mortgage Qualification in Canada + prime rate bumped up last week, but so did a few other rate categories + how long should a mortgage pre-approval take? http://ow.ly/IQyp30hZJRl

Here are the scheduled dates for interest rate announcements from the Bank of Canada...8 of them in total, another 7 to look forward to for the remainder of 2018. These announcements affect variable rate mortgages, HELOCs, credit cards, personal lines of credit, and any other variable component credit accounts

One of the most neglected fine print items...#MortgageTipTuesday

Quick Close Mortgages: 30-45 day closing dates, great rates #mortgagerates

Mortgagenomics with Marko Gelo -

Woops...forgot the attachment/link: http://ow.ly/obQW30hS3ld Episode 5 | makingCents podcast | * mortgage interest rate activity...update * real estate stats, Greater Vancouver... * impact of "empty home tax" on Vancouver rental rates and vacancy See more

Episode 5 | makingCents podcast | * mortgage interest rate activity...update * real estate stats, Greater Vancouver * impact of "empty home tax" on Vancouver rental rates and vacancy

The obsession to figure out Vancouver's real estate market continues... According to Transparency International Canada (an anti-corruption organization): *Canada has a system that doesn't disclose who the true "beneficiary" owner of a property is. This is believed to significantly affect the count on foreign ownership in Canada. It has widely been known that foreigners purchase under company names or trusts. Many of these are being tabulated as Canadian owners.... *Stats Canada has recently issued statements that their count may not be accurate ...basically, we have no idea how much of our real estate market (especially in Vancouver and Toronto) is impacted by foreign ownership. Many conclude that the recent press release that states foreign ownership in Vancouver and Toronto under 5% is grossly inaccurate (under-estimated). Here is the article that summarizes CMHC's findings on foreign ownership (that many are calling bluff on)... http://ow.ly/JEAh30hGhqq The real question that Canadians need to ask themselves is what would they do if/when it is CONFIRMED that foreign ownership is the driving force behind Vancouver and Toronto's sky high market? What do you think Canada should do: (a) Carry on, as is (b) Implement more gradual policy and regulation and hope for a meaningful impact, or (c) Resort to extreme measures and strictly prohibit foreign ownership

Many home buyers are required to purchase Title Insurance upon completion of their mortgaged real estate purchase and many are completely unaware of the coverage...

NEWS: Heads up, several lenders are increasing their interest rates on Monday January 8. Give me a call if you need to move on something or have a renewal pending.

The new Mortgage Stress Test, home affordability crisis, limited supply...ya, Canadians aren't phased. Bloomberg's latest weekly poll of Canadian consumer confidence hit above 62 (the highest since 2009). A score over 50 indicates a positive feeling about the economy... http://ow.ly/af6530hAUqc

Have a wonderful New Year's Eve!

A few banks have already adopted to the new 2% stress test mortgage qualification rules...we still have many lenders who are accepting applications all the way up until New Year's Eve! PM me if you need more details

Just a few scenarios to be aware of when it comes to real estate and taxes in Canada...be sure to consult with a tax expert!

If you're waiting for the sky to fall down on real estate in Vancouver, then don't read this article... http://ow.ly/IsDA30hbOFk

Not sure how or if the upcoming mortgage rule changes might affect you? Here's a good article that uncovers various scenarios... http://ow.ly/sv7J30h9d1n

5 cities that allow bitcoin for real estate purchases: http://ow.ly/PHWp30h24xb

Apparently a third of Canadian's are not aware of the pending mortgage qualification rule changes slated for Jan 1, 2018. If you have any questions about them, please don't hesitate to reach out

Vancouver's 10 year housing strategy of 72,000 units...is it enough? Will it have a meaningful impact? http://ow.ly/SmTJ30h1ZJH

Some basic mortgage terms and lingo to be aware of... http://ow.ly/z6uV30h15ML

One of the big hurdles for mortgage qualification for new Canadians is not having an established credit history. For the first 5 years, new Canadians are granted an exception that allows them to provide alternate sources for credit verification.. http://ow.ly/vKNK30gWWBc