As first-time buyers with not-so-typical incomes, we were a little overwhelmed going into the mortgage application process, but Shanna directed the process flawlessly. She was incredibly organized and on top of everything, always one step ahead of the process to ensure we wouldn’t run into any hiccups or issues. In the end, she was able to secure us a mortgage with great terms. We would not hesitate to recommend Shanna to anyone!
ABOUT ME
Being a mortgage broker comes naturally to me. In fact, it’s a perfect blend of my love for numbers and my passion for helping people fulfill their dreams.
I began working on achieving my own dreams at a young age. I started in the hospitality industry when I was only 15 years old. While working my way up to management level, I earned a Commerce degree with a major in Finance from the world-renowned, UBC Sauder School of Business.
Those years of working hard and going to school taught me the invaluable importance of discipline and a good work ethic. They also exposed me to thousands of people who shared their personal stories with me: stories of their own dreams and the challenges they faced to achieve them. Your stories made me a better listener.
I understand everyone is as unique as his or her story. And so are their needs. I also understand that home ownership is one of the biggest lifetime dreams most of us share. But it can be stressful and confusing to navigate your way through the process of finding the right mortgage for you. Let me help. I bring 5 years of experience to the table.
I don’t want to work ‘for’ you, I want to work ‘with’ you to design a mortgage that is the right fit for you not only today but also for tomorrow and years to come. My commitment to you is for the long haul. It doesn’t end when you sign the mortgage papers and move into your dream home.
I will be available to help you each step of the way throughout your time as a mortgage holder; whether it’s time for a mortgage renewal or you want to refinance. I’ll make sure you keep more of your hard-earned money in your pocket by finding you the best rate possible.
Let me show you that
'IT’S EASIER THAN YOU THINK’
SERVICES
HOME PURCHASE
If you’re looking to buy a property, unless you have all the cash necessary in the bank, chances are you’ll need to get a mortgage! With so many options and mortgage products available, where do you start? You’re in the right place. Instead of working with a banker who represents a single line of products, when you work with me, an independent mortgage professional, I can represent you to several institutions, and you can pick the best mortgage product that suits your individual needs. In most cases, my services are at no added cost to you!
PRE-APPROVALS AND RATE HOLDS
Okay, you have decided now is the time to buy a new property! It may be your first or your hundredth, in any case, the house hunting process starts by understanding how much purchasing power you have. Contact me anytime to get a mortgage pre-approval and secure a 120 day rate hold. This way you will be able to shop with confidence, and you’ll be protected against rising rates.
REFINANCE
Are you looking to access some of the equity built up in your home? Maybe you want to consolidate some debts, start a new business, buy a vacation or investment property, or spend the next eight years in a vineyard… regardless, let’s discuss all your mortgage refinance options!
REVERSE MORTGAGES
One of the benefits of working with an independent mortgage professional is the wide variety of products we are able to offer our clients. The reverse mortgage is one such product. It’s unique in the fact that it allows homeowners 55+ to borrow against the equity in their home without any credit or income qualification. In fact, there are no payments to a reverse mortgage, instead, the principal amount of the loan grows each month. Want to learn more, contact me anytime!
RENEWAL
If you are within six months of your mortgage renewal, or if your existing lender has sent you a renewal offer in the mail, please don’t just sign the offer, contact me directly, and I can give you a second opinion, and in most cases save you money. There is always room to negotiate, or to find a completely new lender. My goal is to save you money, I can’t do that, unless you give me a call!
FIRST TIME HOME BUYERS
Are you looking to get into the housing market, but have no idea where to start? That’s great. I love working with first time home buyers. I understand that you have questions, and that you’ll probably have even more questions after your initial questions have been answered. Buying your first home is a big deal. I’m here to walk you through the process. Getting your financing in order is step one. Please contact me anytime. I’d love to work with you.
WHATEVER MORTGAGE PRODUCT YOU'RE LOOKING FOR,
I'D LOVE TO WORK WITH YOU.
MEDIA
I always keep my blog up to date so you can stay informed.
Credit. The ability of a customer to obtain goods or services before payment, based on the trust that you will make payments in the future. When you borrow money to buy a property, you’ll be required to prove that you have a good history of managing your credit. That is, making good on all your payments. But what exactly is a “good history of managing credit”? What are lenders looking at when they assess your credit report? If you’re new to managing your credit, an easy way to remember the minimum credit requirements for mortgage financing is the 2/2/2 rule. Two active trade lines established over a minimum period of two years, with a minimum limit of two thousand dollars, is what lenders are looking for. A trade line could be a credit card, an instalment loan, a car loan, or a line of credit; basically, anytime a lender extends credit to you. Your repayment history is kept on your credit report and generates a credit score. For a tradeline to be considered active, you must have used it for at least one month and then once every three months. To build a good credit history, both of your tradelines need to be used for at least two years. This history gives the lender confidence that you’ve established good credit habits over a decent length of time. Two thousand dollars 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. If you’re managing your credit well, chances are you will be offered a limit increase. It’s a good idea to take it. Mortgage Lenders want to know that you can handle borrowing money. Now, don’t confuse the limit with the balance. You don’t have to carry a balance on your trade lines for them to be considered active. To build credit, it’s best to use your tradelines but pay them off in full every month in the case of credit cards and make all your loan payments on time. A great way to use your credit is to pay your bills via direct withdrawal from your credit card, then set up a regular transfer from your bank account to pay off the credit card in full every month. Automation becomes your best friend. Just make sure you keep on top of your banking to ensure everything works as it should. Now, you might be thinking, what about my credit score, isn’t that important when talking about building a credit profile to secure a mortgage? Well, your credit score is important, but if you have two tradelines, reporting for two years, with a minimum limit of two thousand dollars, without missing any payments, your credit score will take care of itself, and you should have no worries. With that said, it never hurts to take a look at your credit every once and a while to ensure no errors are reported on your credit bureau. So, if you’re thinking about buying a property in the next couple of years and want to make sure that you have good enough credit to qualify, let’s talk. Connect anytime; it would be a pleasure to work with you and help you to understand better how your credit impacts mortgage qualification.
As housing affordability challenges persist across Canada, innovative solutions are reshaping the way homeowners can contribute to housing supply. Starting January 15, 2025, new mortgage insurance rule changes will allow Canadian homeowners to access insured refinancing options to create secondary suites, such as basement apartments or laneway homes. This move, announced in Budget 2024 and detailed by the Department of Finance Canada, is part of a broader strategy to increase housing density and improve affordability while offering homeowners the chance to generate additional income. Why These Changes Matter Historically, converting extra space into rental units has been both costly and mired in municipal red tape. Recent zoning reforms across Canada’s major cities, driven by Housing Accelerator Fund agreements, are reducing these barriers. The creation of secondary suites not only expands housing supply but also provides financial benefits to homeowners, such as offering seniors additional income to support aging in place. Key Parameters for the New Rules The new mortgage insurance program is designed to enable homeowners to build legal, self-contained secondary suites that comply with municipal requirements. Here are the essential details: Eligibility Requirements Homeowners must already own the property. The homeowner or a close relative must occupy one of the existing units. Additional units must not be used as short-term rentals. Project Specifications New units must be fully self-contained with separate entrances (e.g., basement suites, laneway homes). Up to four total dwelling units are allowed, including existing units. Financial Parameters The “as improved” property value must be less than $2 million. Homeowners can refinance up to 90% of the property’s value, including the enhanced value from secondary suites. The maximum amortization period is 30 years. Additional financing must not exceed the project’s costs. When Do These Rules Take Effect? Starting January 15, 2025, lenders can submit applications for mortgage insurance under these updated parameters. This applies to all eligible properties across Canada, provided the new units align with municipal zoning requirements. What This Means for Homeowners For homeowners with underutilized space, such as basements or detached garages, this new program offers an opportunity to increase property value and create a source of long-term income. By building legal secondary suites, homeowners can contribute to Canada’s rental housing market while gaining financial security. A Step Toward Housing Solutions As housing supply remains a pressing issue, these mortgage insurance changes reflect a commitment to practical, homeowner-driven solutions. Whether you’re a senior looking to age in place or a family seeking to maximize your property’s potential, these changes represent an exciting opportunity to invest in your home and your community. Stay informed and explore your options with your lender to determine if this program is right for you. The path to unlocking your property’s potential begins in 2025.
The best place to start the mortgage process is with a pre-approval. But once you’ve been pre-approved for a mortgage and you’ve been shopping with location in mind, what happens when you can’t find a suitable property? There's no doubt about it; finding the perfect property within your price range is a difficult task, especially for first-time homebuyers. So, before buyer’s fatigue sets in, maybe you should consider adding the cost of renovations into your purchase. Buying a property and including the cost of renovations into the mortgage is available through a program called purchase plus improvements. When purchasing a home, you can add the cost of home upgrades into your mortgage, making it a great option if you can’t find something move-in ready and aren’t afraid to do a little work! But while this sounds simple enough, in all honestly, it’s quite the process. There are some pretty strict rules to follow, but nothing that you can’t handle with the guidance of an independent mortgage professional. Here’s a quick overview of the process. Firstly, you must provide quotes to the lender ahead of time for the work you would like to complete. It’s good to note that the renovations will have to increase the value of the property accordingly. From there, the lender doesn’t give you the money to do the upgrades; you have to come up with that yourself. However, once the work has been completed and verified by an appraiser, the lender will reimburse you and include the money in your mortgage. This program isn’t for everyone. Buying a home is a stressful endeavour in and of itself. The added stress of having to undertake renovations right away might not be a good idea. But then again, if you have the financial wherewithal to handle the cost of renovations and like the idea of making it yours from the start, then this might be just the option you’ve been looking for! Please connect directly; it would be a pleasure to walk through the exact process and outline what securing a purchase plus improvements would look like for you!
LENDERS
I've developed excellent relationships with many lenders across the country, let's figure out which one has the best product for you.
HAPPY CLIENTS
My friend recommended that I call Shanna to discuss my mortgage options. I’m so happy I did. She was very accessible, explained the process in a way that made sense to me, provided me with excellent council, and ensured I got the financing to secure the purchase of a new build condo. There was a lot of back and forth paperwork, but in the end Shanna did an amazing job keeping things on track. I highly recommend her if you need mortgage financing. I have since referred several friends who have had similar experiences to mine.
Daniel Magnussen | Condo Owner, Langley, BC.
