Mortgage advice you can trust

Let me navigate you through the process of successfully achieving your mortgage goals

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MICHAEL HALLETT 
Passionate about Mortgages, Mountain Biking and Craft Beer

Mortgage financing can be frustrating. It doesn't have to be when you follow this 3 step plan.

Get started right away

The best place to start is to connect with me directly. The mortgage process is personal. My commitment is to listen to all your needs, assess your financial situation, and provide you with a clear plan forward.

Get a clear plan

Sorting through all the different mortgage lenders, rates, terms, and features can be overwhelming. Let me cut through the noise, I'll outline the best mortgage products available, with your needs in mind.

I'll handle the details

When it comes time to arranging your mortgage, I have the experience to bring it together. I'll make sure you know exactly where you stand at all times. No surprises. I've got you covered.

MICHAEL HALLETT

Mortgage Broker

Thank you for coming to check my website. If you only have time to read one paragraph, I can summarize everything below in one sentence. I’m a 13-year veteran mortgage broker, addicted mountain biker for over 26 years, passionate big mountain skier for even longer, rookie dirt biker, outdoor enthusiast for over 45 years and lover of craft beer.

 

As a BC boy born and bred, I can proudly say I’ve lived my entire life in BC. Growing up on the north end of Vancouver Island in a small logging town (Holberg), it helped cement my love for the outdoors. From there we moved to the Coquitlam area when I was 10 years old where my dad opened a business with my uncle.

 

After graduating high school, I moved to Victoria for 1 year where I enrolled in an Outdoor Eco-tourism Program. From there my then girlfriend and I, now my wife Kirstin, moved to Whistler to pursue a lifestyle of playing and working outside. It was there that my entrepreneurial spirit had started to take shape. Over the next couple of years, I self-started two small businesses in the tourism industry including a guided mountain bike adventure company.

 

It was around this time in Whistler that Kirstin and I bought our first home and I started to become interested in the mortgage financing space. Our son Aidan was born in 2007 and a year later we decided to move back to Coquitlam to pursue different careers. After purchasing our second home in 2008, I knew that I wanted to make a career out of being a Mortgage Broker, so I did. I have been assisting clients achieve their goals of real estate ownership since August 2009. Currently I am ranked in the top 5% of brokers at Dominion Lending across Canada. In 2021 I received the DIAMOND award for my mortgage practice.

 

When we are not working or Aidan’s not in school you can usually find us being active somehow; hiking, mountain biking, skiing, camping, boating, playing hockey, golfing, traveling or on the road headed out on our next adventure. We love being busy and we would not have it any other way!

On a more personal note...

BEERS, BIKES & MORTGAGES

I am passionate about mortgage brokering, mountain biking and craft beer.


My commitment is to navigate you through the entire mortgage process, guiding you every step of the way. I have the ability and experience to help you achieve your mortgage goals.


Mountain biking is a true lifestyle and I absolutely love it. I also enjoy good tasting beer and Parkside Brewery is one of my favorite places.


Watch my 'Beers, Bikes & Mortgages' video here.

Obviously there are a lot more services I can offer and a lot more information I can share with you. Consider this my invitation to contact me with your questions, I would love to work with you and help you figure out a plan not only to get you a mortgage, but to help you get rid of it.

BURKE MOUNTAIN DEVELOPMENTS

If you are looking to purchase a home in the new Burke Mountain Development, I know the project very well and would love to help you arrange mortgage financing. I live in Coquitlam and spend most of my free time in Pinecone Burke Mountain Provincial Park. If you are looking for an inside man to help you navigate the area, you’ve found him.

Okay, so maybe a calculator really isn’t a service, but if you click through this link, it will take you to a page with a some really fun options to run some calculations on your own. When you have things somewhat figured out, give me a shout and we can see exactly where you stand.

DOWNLOAD MY MORTGAGE TOOLBOX


WHAT CAN YOU DO WITH MY APP:

 

  • Calculate your total cost of owning a home
  • Estimate the minimum down payment you need
  • Calculate Land transfer taxes and the available rebates
  • Calculate the maximum loan you can borrow
  • Stress test your mortgage
  • Estimate your Closing costs
  • Compare your options side by side
  • Search for the best mortgage rates
  • Email Summary reports (PDF)
  • Use my app in English, French, Spanish, Hindi and Chinese

 

TESTIMONIALS

It was definitely a pleasure working with Michael. From day one he was upfront and honest about my unique credit situation, however he was also the positive reinforcement I needed to keep going and give it a try. Even when the banks wouldn’t give me the time of day, he was certain we would find someone who would give me a chance. He was very patient with my questions (I am sure they seemed to be never-ending at times), and helped to guide me through the many different stages of purchasing a home.

Thanks to Michael and his dedication, he found a lender that would work with my situation and I now own my first home. He also has coached me on how to fix my credit rating, and I am pleased to say that my credit score is already considerably higher than when we began this process. I would highly recommend Michael to anyone looking for a mortgage!

Jillian

As first time home buyers, we had many questions and concerns. Even if not directly related to the mortgage, Michael was always readily available to provide answers or direct us to them. Despite some unforeseen changes on our end including shifting our purchase to a different home, he provided us with everything we needed and made the mortgage process nearly free of any stress.

Would highly recommend him to friends and family!

Ryleigh & Jeff

John Doe's Image
I was connected with Michael through my realtor. Michael found me the type of mortgage I was looking, for which helped me purchase my home. The experience was seamless. Michael was always available, customer focused and kept in constant communication with me.

The whole experience working with Michael was perfect.

Boky

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FROM MY INSTAGRAM

NEWS FROM THE DESK OF MICHAEL HALLETT

By Michael Hallett 09 Oct, 2024
Your credit score and how you manage credit are huge factors in qualifying for a mortgage. If you want the best interest rates and mortgage products available on the market, you want a high credit score. Here are a few things you can do to improve your credit score. Make all your payments on time. Making your payments on time is so important; in fact, it might just be the most important factor in managing your credit. Here's how credit works. When you borrow money from a lender, you agree to make payments with interest on a set schedule until the debt is repaid in full. Good credit is established and maintained by making your payments on time. However, If you break the terms of that schedule by not making your payments, the lender will report the missed payments to the credit reporting agencies, and your credit score suffers. It’s that simple. The more payments you miss, the lower your score will be. If you fail to make payments for over 120 days, the lender will most likely send your debt to be recovered by a collection agency. Collections stay on your report for a long time. So the moment you realize you have missed a payment or as soon as you have the money for it, make the payment. If something prevents you from making a payment, consider contacting the lender directly to let them know what happened and work out an arrangement to make the payment as soon as possible. It's good to note that lenders only report late payments after a payment is 30 days late. If you miss a payment on a Friday and catch it the following Monday, you won't have anything to worry about - except maybe an NSF fee. Now, just because payments don't report until being 30 days late, don’t get comfortable with making late payments; the best advice is to pay your debts on time, as agreed. Stop acquiring new credit. If you already have at least two different trade lines, you shouldn’t acquire new trade lines just for the sake of it. Of course, if you need to borrow money, like to purchase a vehicle to commute to work, go ahead and apply. Just remember: having more credit available to you doesn’t really help your credit score. In fact, each time a potential lender looks at your credit report, it may lower your credit score a little bit. With that said, if you already have two different trade lines and your lender offers you an increase on your limit, take it. A credit card with a $10k limit is better for you than a credit card with a $2k limit because how much you spend compared to your credit card's limit impacts your credit score. This leads us directly into the next point. Keep a reasonable balance. The more credit you use compared to the limit you have, the less creditworthy you appear. It’s better to carry a reasonable balance (15-25% of the card’s limit) and pay it off each month than to max out your credit cards and just make the minimum payments. If you have to spend more than 25% of your card limit, try to remain under 60%. That shows good utilization. Paying down your credit cards every month and carrying a zero balance will undoubtedly improve your credit score. Check your credit report regularly. Did you know that roughly 20% of credit reports have misinformation on them? Mistakes happen all the time. Lenders misreport information, or people with the same names get merged reports. Any number of things could be inaccurate without you knowing about it. You might even have become a victim of fraud or identity theft. By checking your credit regularly, you can stay on top of everything and correct any errors promptly. Both of Canada's credit reporting agencies, Equifax and Transunion, have programs that, for a small fee, will monitor and update you on any changes made to your credit report. Handle collections immediately. When checking your credit report for accuracy, if you happen to find a collection has been registered against you, deal with it immediately. It could be a closed-out cell phone account with a small balance owing, a final utility bill that got missed, unpaid parking tickets, wage garnishments, or spousal support payments. Regardless of what it is, it will harm your credit score if it's registered on your credit report. The best plan of action is to handle any collections or delinquent accounts as soon as possible. Use your credit card. If you have acquired credit cards to build your credit score, but you rarely use them, there is a chance the lender might not report your usage, and that won’t help your credit score. You'll want to make sure that you use your credit at least once every three months. Many people find success using their credit cards for gas and groceries and paying off the outstanding balance each month. There you have it. Regardless of what your credit looks like now, you will continue to increase your credit score if you follow the points outlined above. If you're looking to buy a property and you’d like to work through your credit report in detail, let’s put together a plan to get you qualified for a mortgage. Get in touch anytime; it would be a pleasure to work with you!
By Michael Hallett 02 Oct, 2024
If you’ve been thinking about buying a property, whether that be your first home, next home, forever home, or a home to retire into, the current state of the Canadian economy might have you wondering: Is this really the right time to make a move? There is certainly no shortage of doom and gloom in the news out there. The truth is, that’s a tough question to answer in the best of times. It’s nearly impossible to know for sure what’s going to happen next with the housing market in Canada. It could heat up or it could cool down. So here’s some advice. Instead of basing your buying decision entirely on external market factors, like the economy or housing market, consider looking for the answers internally. When you stop looking at the market to determine your timing to buy a home, and instead examine the personal reasons you have for wanting to buy a home, the picture can become much clearer. Here are some questions to consider. Although they are subjective, they will help bring you clarity. Ask yourself: Does buying a property now put me in a better financial position? Do I make enough money now to afford a new home and maintain my lifestyle? Do I feel confident with my current employment status? Have I saved enough money for a down payment? How long do I plan on living in this new home? Is there any scenario where I might have to sell quickly and potentially lose money? Does buying a property now move me closer to my life goals? Do I really want to buy now or am I just feeling a lot of pressure to just buy something? Am I holding back because I'm scared property prices might drop soon? There’s no doubt that buying a home can be stressful, but it doesn’t have to be. Having a plan in place is the best course of action to help you make good decisions and alleviate that stress. If you’d like to have a conversation to discuss your plans, ask some questions, and map out what buying a home looks like for you, we can address many of the unknowns together. The best place to start is to work through a mortgage pre-approval. There is no cost for this service, you’ll learn exactly what you can qualify for, and it will provide a lot of clarity about your situation. You might decide that it’s best to wait before buying, and that’s just fine. You might find that now’s a perfect time for you to buy! If you'd like to talk, please connect anytime. You’re not in this alone. We can work through everything together.
By Michael Hallett 30 Sep, 2024
Starting November 21, 2024, borrowers switching lenders with uninsured mortgages will no longer face the stress test, thanks to a new policy from OSFI. Previously, uninsured borrowers needed to prove they could afford their mortgage at a higher rate, which created barriers to switching for better terms. This change encourages competition among lenders and aligns the rules with insured mortgages, providing more flexibility and choice for homeowners. The decision responds to concerns raised by the Competition Bureau and reflects shifting risk management trends in the mortgage market. Key Points: Applies to Straight Switches: This policy is for borrowers switching lenders while maintaining their loan amount and amortization schedule. Stress Test Removed: No more proving affordability at higher rates during switches, allowing for easier access to competitive offers. Supports Borrower Flexibility: Homeowners now have more options to find the best mortgage rates at renewal without the stress test obstacle. Why the Change? OSFI initially maintained the stress test to manage risk but has now reversed this stance after evaluating that the original concerns have not significantly materialized. This move is designed to balance fairness for borrowers and enhance competition in the mortgage market. How It Affects You For those with uninsured mortgages approaching renewal, this policy change is a win. You'll now have the opportunity to seek out better mortgage rates without facing a stress test, making it easier to reduce financial strain, especially in a rising interest rate environment. Stay informed and take advantage of these changes by reviewing your mortgage options today!
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