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Tereza Kumric

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Welcome

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It PAYS to shop around.

Many Canadian homeowners pay too much for their homes because they are not getting the best mortgage financing available in the market.

The mortgage process can be intimidating for homeowners, and some financial institutions don't make the process any easier.

But I’m here to help!

I’m a VERICO Mortgage Advisor and I’m an independent, unbiased, expert, here to help you move into a home you love.

I have access to mortgage products from over forty lenders at my fingertips and I work with you to determine the best product that will fit your immediate financial needs and future goals.

VERICO mortgage specialists are Canada’s Trusted Experts who will be with you through the life of your mortgage.

I save you money by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal. So whether you're buying a home, renewing your mortgage, refinancing, renovating, investing, or consolidating your debts — I’m the VERICO Mortgage Advisor who can help you get the right financing, from the right lender, at the right rate.

BLOG / NEWS Updates

Jul 23

2014

Number of home sold edged up slightly in June

According to statistics released by The Canadian Real Estate Association (CREA), national home sales activity edged up almost one per cent on a month-over-month basis in June 2014. Highlights: - National home sales rose 0.8% from May to June. - Actual (not seasonally adjusted) activity stood 11.2% above June 2013 levels. - The number of newly listed homes was little changed from May to June. - The Canadian housing market remains in balanced territory. - The national average sale price rose 6.9% on a year-over-year basis in June. - The MLS Home Price Index (HPI) rose 5.4% year-over-year in June. Sales rose in about half of all local housing markets in June, led by gains in Greater Vancouver where activity hit its highest level in more than three years, and Montreal where activity is now 10 per cent above post-recession lows reached earlier this year. Sales have improved compared to their slower start earlier this year, said CREA President Beth Crosbie. That said, there are still important differences in how housing markets are faring depending on location, housing type and price point. Whether youre looking to buy or sell, your local REALTOR is your best source of information on all the factors driving the market where you currently live or might like to in the future.

Jul 21

2014

Should you invest in an income property?

Owning a rental property can be a profitable investment - but its not for everyone. Its important to do the research needed to have a clear understanding of the steps in financing an income property and all the responsibilities that will come with an investment. Ive provided some information below to help you get started. If you are interested in finding out if investing is right for you, contact me and Id be happy to assist you. Why purchase an investment property? Real Estate is still a great long-term investment Property values have been historically more stable than the stock market A source of monthly income, if you do not have a monthly shortfall There are some tax deductible expenses Approved Rental Property Types: Single-family dwellings Town homes Condos Duplexes Triplexes Fourplexes Most lenders allow applicant to hold a maximum of 4 rental properties. Anything over is considered a commercial business. Downpayment Most lenders require 25% -35% for downpayment. If between 20-25%, the mortgage will need to be insured for default with CMHC/Genworth/Canada Guaranty and a premium will be added to the mortgage. Downpayment cannot be borrowed or gifted Must provide proof of downpayment (30 to 90 day account history) An investment property is a big commitment for you and your family. Im here to help you figure out if its the right move for you! As a professional mortgage broker in one of Canadas largest Mortgage Broker Networks, I have access to an array of lenders and products that may suit your needs. Dont hesitate to contact me for a meeting.

Jul 18

2014

Are housing starts rebounding?

Consensus is looking for Canadian housing starts numbers for the month of June to come in near 190k, down from the strong 198.3k in May but still stronger than levels seen earlier this year when a mix of harsh weather and uncertainty weighed on overall levels of construction, driving housing starts to an annualized low of 157k in March. We wouldnt make too much of the very soft levels of construction during Q1: Canadas weather is very harsh in the winter, and the low seasonally adjusted monthly housing starts numbers seen during Q1 didnt actually represent a massive decrease in the quantity of housing starts that the country will actually see in 2014. As we noted at the time of the weak March housing starts number (157k), in unadjusted terms, the first three months of the year only constitute 18-20% of the cumulative quantity of housing starts that typically happen over a full 12-month stretch. Peak housing starts months in absolute terms occur in May through July, with those months typically averaging 55-60% more actual starts (not seasonally adjusted) than is typical during Q1. In other words, the strong numbers that were seeing for Q2 are much more important than the weak numbers that we saw for Q1 and represent much more actual building. Source: Scotiabank

Jul 16

2014

Major Real Estate Boards Report June Results

The spring market unofficially ended last month and Canadas three most followed housing markets finished off the spring selling season strongly. Sales volumes, prices and new listings each increased in June in all three cities. Low interest rates continue to fuel strong buyer demand. Vancouver Sales volumes were up in Vancouver by 29% in June, compared to the same month in 2013. They were also 3.7% higher than in May but only 0.6% above the ten year average for the month. Sales of detached properties were up a whopping 59% from the level seen in June of 2012. REBGV President Ray Harris commented that competition among buyers has increased and is as strong as its been in the region since June, 2011. The sales-to-new-listings ratio in Vancouver reached 21.3% in June, the highest since June, 2011. New listings were up 9.5% compared to a year earlier but were down by more than 10% from Mays level and 2.6% below the ten year average. Total listings stood at 16,011 which is down 7% from June, 2013. Average prices in Vancouver for detached homes in June were up more than 6% from a year ago but are still under $1 million at $976,700. For apartment condominiums, average prices rose 2.4% year-over-year to $378,000. Calgary The comparison of this years month of June to June, 2013 in the Calgary real estate market requires some context as last year at this time, Calgary was dealing with the aftermath of the damaging flood which took a large bite out of sales activity. This years sales volumes in June were 18% above the ten year average for the month as the market continued its hot streak. There was some relief from the severely tight market conditions which have plagued the market in recent months as new listings rose above the long term average in June for the first time since 2010. Inventory levels rose as a result but balanced market conditions remain well out of reach for now. The single-family unadjusted benchmark price was $509,700 in June, representing an 11% increase from the same period last year. For condominiums, the apartment-style benchmark price was $299,700 and for townhouse-style units, it was $326,000. Toronto The Toronto Real Estate Board welcomed a new President in June. Paul Etheringtons first monthly sales report featured an increase of more than 15% in sales volumes from a year earlier as there were more than 10,000 sales recorded in June. New listings also rose but not by as much which means that competition among buyers increased yet again in June. Many areas of the Greater Toronto Area have less than two month of inventory of listed properties. TREB predicts that with the current level of pent-up demand, sales should be strong throughout the rest of the summer. The average sale price of a home in Toronto reached $568,953 in June, a 7.4% increase from a year ago. Prices for detached properties in the 416 area the City of Toronto reached $921,127 in June, moving ever closer to prices in the Vancouver market. Despite the abundance of new units reaching completion and the number of resale units listed for sale, the condominium market in Toronto remains strong as average prices moved ahead by 6.8% from a year ago. source: MCAP

MY LENDERS

Scotia Bank First National National Bank B2B Bank Home Trust Bridgewater Bank
MCAP Merix Industrial Alliance Optimum Canadiana Financial Equitable Trust
ICICI Bank Moncana Bank of Canada Fisgard Capital  RMG Mortgages