Your mortgage is a big commitment; find out how my expertise can make a difference 

LET'S TALK

Denise Carroll-McLean

Mortgage Expert

I’m Denise and I absolutely LOVE what I do. I started my mortgage career in Banking where I spent the first 27 years of my career, before making one of the best decisions of my life to move into mortgage brokering 14 years ago. 


I bring all this expertise to my clients, every day. My passion is helping families with everything they are dreaming about in real estate!


My husband Mike & I live in the South Surrey area. Our four adult children all live independent of us, and we are now empty nesters! Before the last of our kids moved out, we added our much loved labradoodle ‘Willis’ to the family. See his bio on the Team page!


We love to travel, enjoy good food and spend time with our family and friends. Once our business day is done we love to enjoy another of our passions, which is CrossFit! It has become a lifestyle for us and even when travelling we love to take the time out to visit a crossfit gym, get in a workout and meet new people along the way. 


Staying fit and healthy is a part of what keeps me focused and helps maintain the energy I want and need to bring my best for my clients! 

MEET THE TEAM

What our clients say about working with us

Let's Run Some Numbers

Mortgage Services

Let's work together to achieve your mortgage needs
HOME PURCHASE


If you are looking to purchase a property, understanding all the mortgage options available to you can seem overwhelming. That’s where I come in, I do this everyday, and I love it. I will help you make sense of all the numbers guide you through the process.

RENEW OR REFINANCE


If you’re looking to access some of the equity built up in your home, for whatever reason, or you have a mortgage that is up for renewal in the next year, you have options! Don’t hesitate to contact me, I’d love to meet face to face and discuss your personal financial situation with you.

EDUCATION


I believe that in order for my clients to feel confident about the mortgage process and make the best decisions for them, they have to feel at ease and be able to ask questions. My goal is to stay in touch throughout the entire process, provide lots of information up front, but also make myself available whenever possible!

CALCULATE


Whether you're just getting started, have a home in mind, or want to refinance or renew an existing mortgage, why not start by using my online calculator? 

CALCULATE
SIGN CONSENT


We take your privacy very seriously. Here is a quick consent form that you can use to indicate that you'd like to start the process in finding a mortgage with me! 

CONSENT
APPLY NOW


You've run some preliminary calculations, you've signed the consent form, the next step is to go through my online mortgage application. 

APPLY NOW
 MEMBER OF MORTGAGE PROFESSIONALS CANADA

Mortgage Professionals Canada (formerly CAAMP) is Canada’s national mortgage broker industry association. We recognize that Canadians need and deserve more. We believe in competition as it produces better options and demands ever-improving service and products. We believe in choice as it benefits Canadians and delivers an environment of opportunity. We believe in professionalism as it demonstrates commitment, trust and excellence. The mortgage broker channel is a critical and valuable profession. It creates possibility, fuels the economy and provides Canadians with choice when making the most important financial decisions of their lives.

Mortgage Professionals Canada is recognized as the premier voice of Canada’s mortgage broker channel and the leading authority on mortgage issues.
I have developed excellent relationships with lenders across the country. When you work with me, you have choices.

Here are some mortgage resources for your reference!

By Denise Carroll-McLean 19 Mar, 2020
Have you ever wondered about how to protect yourself from mortgage fraud? Although the chances of you becoming a victim of mortgage fraud is relatively small, if you do become a victim, it will certainly have a long lasting negative impact on your life. So best to be aware of the warning signs. So here's some information from the Government of Canada provided through the Canadian Mortgage and Housing Corporation that outlines mortgage fraud, and what you can do to protect yourself. How to Protect Yourself When Purchasing or Refinancing a Home Beware of promises of "easy money" in real estate. Consumers who knowingly misrepresent information when buying or refinancing a home are committing mortgage fraud. What is Mortgage Fraud? Mortgage fraud occurs when someone deliberately misrepresents information to obtain mortgage financing that would not have been granted if the truth had been known. This can include: Misstating your position or inflating your income or length of service at your job. Stating you are a salaried/full time employee when you are a contract, part time, hourly or commission-based employee or are self-employed. Misrepresenting the amount and/or source of your down payment. Purchasing a rental property and misrepresenting it as owner-occupied. Not disclosing existing mortgage and/or debt obligations. Misrepresenting property details or omitting information in order to inflate the property value. Adding co-borrowers who will not be residing in the home and do not intend to take responsibility for the mortgage. Another common form of fraud is when a con artist convinces someone with good credit to act as a "straw buyer". A straw buyer is someone who agrees to put his or her name on a mortgage application on behalf of another person. In return for their participation, straw buyers may be offered cash or promised high returns when the property is sold. Often, straw buyers are deceived into believing they will not be responsible for the mortgage payments. Consequences of Misrepresentation Borrowers who misrepresent information and straw buyers who allow a property to be purchased in their name are committing mortgage fraud and will be liable for any financial shortfall in the event of default. They may also be held criminally responsible for their misrepresentation. What Can You Do to Protect Yourself? To protect yourself and your family from becoming victims of, or accomplices to mortgage fraud, be an informed consumer. This means: Never deliberately misrepresent information when applying for a mortgage. Never accept money, guarantee a loan or add your name to a mortgage unless you fully intend to purchase the property. If you allow your personal information to be used for a mortgage, even for a brief period, you could be held responsible for the entire debt even after the property is sold. Always know who you are doing business with. Use licensed or accredited mortgage and real estate professionals. Never sign legal documents without reading them thoroughly and being sure you understand them. If uncertain, obtain a second legal opinion or, if necessary, the services of a translator. Get independent legal advice from your own lawyer / notary. Talk to your lawyer / notary about title insurance and other alternative methods of protection. Your lawyer will advise you if anyone other than the seller has a financial interest in the home or if there are any outstanding liens or tax arrears. Contact the local provincial Land Titles Office to obtain the sales history of any property you are thinking about buying, and consider having it inspected and appraised. An accredited appraiser will provide the property sales and MLS history. If a deposit is required, make sure the funds are payable to and held "in trust" by the vendor's realty company or a lawyer / notary. Be wary of anyone who approaches you with an offer to make "easy money" in real estate. Remember: if a deal sounds too good to be true, it probably is. There are also simple steps you can take to protect yourself from another common form of fraud: identity theft. These include: Never give out your personal information until you know who you are dealing with and how your information will be used. This includes requests for information in person, by mail, or over the phone or Internet. Never reply to e-mails or phone calls that ask for your banking information, credit card details, passwords or other personal or sensitive information, particularly if you did not initiate the exchange. Review your mail, bank statements and other financial statements on a regular basis to look for any inconsistencies. If you do not receive a bill on time, follow up with your creditors or service providers. You may also wish to contact your local Postal Outlet to ensure your mail has not been held or re-routed. Shred or destroy all personal and financial documents before you throw them away. Obtain and verify your credit report at least annually by contacting Canada's two credit-reporting agencies: Equifax Canada at www.equifax.ca and TransUnion Canada at www.transunion.ca. Reporting Fraud If you suspect that you or someone you know has been the victim of mortgage fraud, please contact your local police department or The Canadian Anti-Fraud Centre. On-line: www.antifraudcentre-centreantifraude.ca Toll Free: 1-888-495-8501 Toll Free Fax: 1-888-654-9426 To find out more about mortgage fraud, visit the fraud prevention section of the Canadian Association of Accredited Mortgage Professionals (CAAMP) website at http://mortgageconsumer.org/protect-yourself-from-real-estate-fraud. Fraud Brochure_2 2 This article was originally published on the CMHC website here.
By Denise Carroll-McLean 19 Mar, 2020
For the first time home buyer, it's no secret that the mortgage process might seem a little daunting! Buying your first home is a huge decision, and when things "come together", they do so quickly. In order to be as prepared as possible, it's good to have a foundational understanding of mortgage qualification. But don't worry, I will walk through this with you every step of the way. If you ever need anything, contact me anytime! This is the introduction post to a short series that explores a lender’s decision making process that ultimately leads to your mortgage being approved or declined. Here are some of the topics we will cover in more depth in the coming weeks... Understanding Income Understanding Credit Understanding Downpayment Understanding Property General Understanding Although sometimes it may seem like it, let me assure you that it is not your fundamental right as a Canadian to borrow money. In fact, borrowing money for a mortgage in Canada is becoming increasingly difficult. Over the last 5 years, the government has tightened up lending guidelines 4 times and lenders seem to be looking at every mortgage application with a magnifying glass. Most recently OSFI, the government regulator came out and said that they expect a higher level of scrutiny on all mortgage applications. Ultimately, its the lender who decides if they are comfortable with lending you money, and each lender has their own level of risk tolerance when assessing a mortgage application. Convincing the lender that you are a "good risk" is part of what a mortgage broker does for you! There are four main areas common to every lender for their assessment. I will outline them for you now, and then follow up with an in depth look at each section over the coming weeks. Understanding Income
By Denise Carroll-McLean 19 Mar, 2020
Credit. The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. When you borrow money to buy a house, you will be required to prove that you have a good history of managing your credit. But what exactly is a "good history of managing credit"? What are lenders looking at when they assess your credit report? An easy way to remember the minimum requirements for credit is the 2/2/2 rule. 2 active trade lines for a minimum of 2 years, with a minimum of a $2000 limit. Two active trade lines. You receive a trade line on your credit report anytime a lender extends you credit. This could be a credit card, an instalment loan, or a line of credit. Your repayment history is kept on your credit report. In order for a tradeline to be considered active, you must use it at least once every three months. Two years. Both your trade lines have to be established for at least two years. This gives the lender confidence that you have established your credit over a decent period of time. Two thousand dollars. This is the bare minimum limit required on your trade lines. So if you have a credit card with a $1000 limit and a line of credit with a $2500 limit, you would be okay as your limit would be $3500. Sometimes people confuse the limit with the balance. You don't have to carry a balance on your trade lines for them to be considered active. In fact, it's best if you use your trade lines, but pay them off in full every month. A great way to use your credit is to pay your bills via direct withdrawal from your credit card, then setup a regular transfer from your bank account to pay off the credit card in full. Automation becomes your best friend. Just make sure you check that everything is working as it should every once and awhile. Now, although this all may seem pretty straightforward, there are a lot of situations where people assume they will qualify with a minimum required credit profile, when in fact they don't. It could be a simple fix, or it could require a lot of time. So, if you are thinking about buying a house in the next couple of years, and want to make sure that your credit profile will be established by the time you are ready to shop, please contact me and we can work through your mortgage application.
By Denise Carroll-McLean 19 Mar, 2020
No doubt about it, buying a home is an emotional experience. It's a game of balancing needs and wants, while trying to be honest with yourself about those very needs and wants. It's hard to get it right, figuring out what's negotiable and what isn't... what you can live with and what you can't live without. House shopping tends to be more arbitrary than science, especially when you're someone who makes decisions with your heart (sometimes at the expense of your head). One of the biggest mistakes you can make when shopping for a house is to fall in love with something you can't afford. Doing this almost certainly guarantees that nothing else will compare and you will inevitably find yourself "settling" for something that is actually quite nice (and would've been perfect, had you not already fallen in love with something out of your price range).
By Denise Carroll-McLean 19 Mar, 2020
There aren't too many Canadians who are able to save up enough money to pay cash for their home. This is why we have mortgages. A mortgage is a loan made to assist a borrower to purchase a property. The property is held as collateral and interest is charged on the loan. Typically a mortgage will be paid back over 25 years (this is called the amortization), and the amount of interest charged is renegotiated every 1-10 years (this is called the term). Over the long run, borrowing money isn't cheap, despite interest rates being at an all time low! So, if you need to borrow money in order to buy a property, your number one goal should be to keep your cost of borrowing as low as possible. Bolded and italicized for emphasis. Now, contrary to what years of marketing messaging would have us believe, this doesn't always mean choosing the mortgage with the lowest rate. Although choosing a mortgage with a low rate is a part of lowering your borrowing costs, it's not the only factor.
By Denise Carroll-McLean 19 Mar, 2020
If you have no desire at all to qualify for a mortgage, here are some great ways to make sure you don't accidentally end up buying a house and taking out a mortgage to do so. One of the best ways to ensure you won't qualify for a mortgage is to be unemployed . Yep, banks hate lending money to unemployed people! Okay, so you have a job. Well, that's okay, you can always unexpectedly quit your job just as you are trying to arrange financing! Even if you are making a lateral move, or taking a better job than the one you have now, that's cool... any change in employment status while you are looking to get a mortgage will most likely wreck your chances of getting a mortgage for a while. This is because lenders want to see stability; they want to know that you have been in your current position for some time, that you are past probation, and that everything is working out well. By changing jobs right when you are looking to buy a property, you won't instill the lender with confidence, and they probably won't give you a mortgage. Mission accomplished.
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