AGENT LICENSE ID
142311

Ryan Cooper
Senior Mortgage Consultant
Office:
Phone:
Email:
Address:
227-5589 Byrne Rd, Burnaby, British Columbia
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.
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
Is Buying A Student Condo For My Child a Good Investment?
Sometimes a parent decides to buy a place for their children while they hit the books in university or college. It can be a good alternative topaying thousands of dollars toward residence fees or rent. Just look at the math: Student rent of $500 a month = $6,000 a year = $24,000 over 4 years of school. That money could go to your mortgage instead as an investment for you. In Ottawa, for example, you can buy an older one-bedroom condo for about $195,000. Or, buy a 2-bedroom for $240,000 and let your child's roommatehelp cover the mortgage by paying rent. Let's assume you pay 20 per cent down. Here's an example of what your monthly costs could total when mortgage rates are low: Cost 1-bedroom 2-bedroom Mortgage payment $800 $1,000 Condo fees $350 $450 Property taxes, maintenance $300 $400 Total: $1,450 $1,850 Think about it: if your child rents a place, your money is helping the landlord pay his or her mortgage and other costs. If you buy a placeinstead and rent it to them, you have a real estate investment with a guaranteed tenant: your child. If the investment goes up in value, you will make money. Just remember that those gains will be taxed. Also remember, mortgage rates and other costs change, and these changes will impact the numbers and your decision. Things to consider before you decide: You can buy the property in your name, in your child's name, or both. If you buy the property in your name, you should consider: The rental income you charge can pay a lot of your costs. Just remember you have to declare that income on your tax return. As a landlord, you can also claim many of your expenses, including mortgage interest. Assess your costs carefully before you buy. They will vary with the local real estate market, mortgage rates and other factors. Plan for some vacancies. Your child (or their roommate) may not stay in the condo over the summer break. Are you really going to ask them to pay rent if they are living somewhere else for a few months? Remember that you will own a greater share of the equity as you pay off the mortgage. And, the value of the condo may rise over time. This can offset your costs. But whether you do more than break even depends onwhat happens to housing prices in the area. There are other benefits, too. Your child won't need to look for a different place to live each year. They also won't have to worry about sublettingevery summer. And their furniture won't be coming back with them if they live at home over the summer break. Not a bad deal. Remember: you may not make money if you buy a student condo. But there are other reasons you may decide to go ahead. At the very least, you can provide your child with a nice place to live in a good neighbourhood while they go to school. Source: http://ca.finance.yahoo.com/news/Is-buying-student-condo-child-getsmarteraboutmoney-2800756642.html;_ylt=Ak.Gk2aT_bWOvnX0IMVfDRTg2ppG;_ylu=X3oDMTFkYzZwc2o2BHBvcwM0BHNlYwNuZXdzSHViQXJ0aWNsZUxpc3QEc2xrA2lzYnV5aW5nYXN0dQ--?x=0
SCHL: Pénurie de logements au Canada : Estimation des besoins pour résoudre la crise de l’abordabilité du logement au Canada d’ici 2030
Nous traversons une crise du logement. Dans ce rapport, nous examinons labordabilit globale de lensemble du systme de logement au Canada. Nous avons pris des mesures pour estimer la quantit de logements supplmentaires ncessaires, au-del des tendances actuelles, pour rtablir labordabilit du logement dici 2030.
Faits saillants
Nous prvoyons que si le taux actuel de construction se maintient, le parc de logements augmentera pour atteindre prs de 19 millions dunits dici 2030. Pour rtablir labordabilit, nous estimons que le Canada aura besoin de 3,5 millions de logements supplmentaires.
Les deux tiers des 3,5 millions de logements manquants se trouvent en Ontario et en Colombie-Britannique, o les marchs de lhabitation sont les moins abordables.
Des logements supplmentaires seraient galement requis au Qubec. Cette province tait autrefois considre comme abordable, mais labordabilit sy est fortement effrite au cours des dernires annes.
Dautres provinces demeurent largement abordables pour un mnage ayant un revenu disponible moyen. Cependant, il est toujours difficile pour les mnages faible revenu davoir accs un logement abordable partout au Canada.
Source: https://www.cmhc-schl.gc.ca/fr/professionals/housing-markets-data-and-research/housing-research/research-reports/accelerate-supply/housing-shortages-canada-solving-affordability-crisis
Canada’s Housing Supply Shortages: Estimating what is needed to solve Canada’s housing affordability crisis by 2030
Were in a housing crisis. This report looks at the overall affordability for the entire housing system in Canada. The report has taken steps to estimate how much additional housing supply is required beyond current trends to restore housing affordability by 2030.
Key Highlights
CMHC projects that if current rates of new construction continue, the housing stock will increase to close to 19 million housing units by 2030. To restore affordability, CMHC projects Canada will need an additional 3.5 million units.
Two-thirds of the 3.5 million housing unit gap is in Ontario and British Columbia where housing markets are least affordable.
Additional supply would also be needed in Quebec, a province once considered affordable. It has seen a marked decline in affordability over the last few years. Other provinces remain largely affordable for a household with the average level of disposable income. However, challenges remain for low-income households in accessing housing that is affordable across Canada.
Source: https://www.cmhc-schl.gc.ca/en/professionals/housing-markets-data-and-research/housing-research/research-reports/accelerate-supply/housing-shortages-canada-solving-affordability-crisis