Should you refinance?

Mortgage Tips Kimberly Coutts 19 Oct

I wanted to share the ins and outs of refinance with you and if it’s something that you might want to take advantage of in the coming months.  It’s an important message to share as recently clients came to me for a Pre-Approval for a new purchase.  They were contemplating selling and buying a new home in the $1 million mark, however after doing a full Pre-Qualification and budget I was able to show them that it would be more beneficial to their family to hold onto their existing property to refinance their mortgage, pay off all their debts and then use the remaining equity as a down payment for Property #2.  With this strategy their real estate assets will be worth $1.6 million instead of $1 million!  And if you think you need to have double six figure incomes to be able to execute this purchase you don’t, this young couple make just over $100K!

The key in the above scenario is that:

  • they have 40% equity in Property #1
  • they’re able to rent out Property #1
  • they’re open to alternative mortgage solutions for Property #2 to maximize their purchasing power

So what is a refinance?  A refinance is when we pay off your current existing mortgage and then replace it with a new one, sometimes with the same lender, sometimes with a different lender.  Some of the reasons that individuals/families look to refinance is:

  • to pay off consumer debt which is typically at a higher interest rate – think car loans, credit cards and lines of credit
  • to obtain a down payment for a new property
  • to use for renovations in your current home
  • to purchase a vehicle in cash rather than obtaining a car loan which could be at a higher interest rate

There are costs to a refinance, which are:

  • Penalties for the existing mortgage
  • Appraisal Fees which are typically $350-$400 so the lender can see what the home is valued at
  • Lawyer or Notary Fees to complete the transaction which can be anywhere from $900 – $1200

If you have more than 20% equity in your current property and you’re wondering if it’s something worth looking into let’s connect for a Discovery Call.  You could start the New Year with a 2nd property in your Real Estate portfolio!

Of course if you’re still looking to get into your 1st home and it’s been awhile since we’ve touched base let’s catch up and see if the time is right for you to make the move and purchase your 1st home.

Have a great rest of the week and talk soon.

Kindest regards,

Kimberly

Mompreneurs & LOVE-19 GC#4 Giveaway

Kim's Monthly VIP Club News Kimberly Coutts 8 May

On this Mother’s Day Weekend, I wanted to take a moment to celebrate all the mamas out there.  It is no easy feat being a Mother and yet it’s been made more challenging as we’re now 1+ years into this pandemic.  I hope this weekend you are celebrated and thanked for doing the best but hardest job out there.  Heck if you get a sleep in, a hot cup of coffee and 10 minutes of peace that sounds great as well.

Today, I thought I’d share some of my top 10 favorite mompreneurs whose businesses you can check out and support.

Shannon is the founder of Sourdough School House.  During the start of COVID, baking became a favorite past-time and if you want to learn how to make the perfect Sourdough and some other yummy treats look no further.  She provides online workshops so wherever you are in the world you’ll be able to bake from the comfort of your home.
Jillian is the owner of Fresh Face Pilates.  She teaches Face Yoga and Pilates as a holistic approach to anti-aging and wellness and shares some fantastic tips to make you look and feel younger.  And if you’ve never heard of Face Yoga then check out here Instagram feed to learn more.
Val is a busy mom of 3 who I recently started Real Estate collaborations with.  She’s full of energy, meticulous in her work and gives it her all when helping families in the Lower Mainland find their perfect home.  She’s there to take the stress out of the process and make the experience as easy and enjoyable as possible.
Paula is the founder of ME beauty which is an awesome little clinic near Granville Island.  I’ve personally had the opportunity to try out her services which had my skin glowing so much in the weeks after that people were asking what I had done differently with my skincare routine!  If you want to give your skin a spring cleaning or transform your eyebrows and eyelashes then she is might be the esthetician for you.
Chane is a virtual assistant that helps ambitious business owners streamline their business processes, stop feeling overwhelmed and conquer their goals.  If you need help with video editing and social media content she’s a fantastic resource.
Jacquie is a coach with a lot of heart.  She has a designed a program for women who are looking to prioritize themselves without disrupting their families and other commitments.  If you need some guidance with creating an effective mindset, a doable self-care plan and some new positive habits she’s a good woman to have in your corner.
Brielle is the founder of Essentials eco.  When COVID hit and she found her career of 10 years in hospitality and events end with a jolt and suddenly a full time stay-at-home-mom she decided to do some research on ways to help protect the planet for our future.  Her company was born out of a desire to make these first steps easier.  Essentials eco is a quarterly subscription box filled with eco-friendly products so that you can start introducing safe, clean, eco friendly products into the home and daily routine without having to throw everything out at once.
Gennette is a mom who I met through my son’s school.  She is the epitome of a mom-preneur owning not only 1 but 2 Shopper’s Drug Mart’s and while it’s a “brand-name” store…each drug store is independently owned and operated by a pharmacist.  Until I had met her, I didn’t know that.  If you’re headed to a pharmacy anyways why not head to one of hers?!  She has a location downtown & at Champlain Square.  Plus she’s over-the-top generous in supporting her school community and giving back!
Courtney another busy mom of 3 helps the rest of us busy moms and families with holistic nutrition and healthy meal planning!  If you’re always wondering what to cook every night then a session with Coco’s Family Kitchen might be the ticket.  She’ll provide you with daily recipes, weekly menus and a grocery list so you’re prepped for the week ahead.
Reagan is founder and Co-Visionary for Pink Tank Group.  Pink Tank is all about connecting, inspiring and motivating women around the globe.  If you want to read about some inspiring women and their stories check out their Features page for a dose of inspiration.

As for my LOVE-19 #4 Weekly Challenge Winner – congrats to Raichal P. a momma of 2 who won a $25 GC to Rain or Shine Ice Cream.  Incidentally the co-owner of this fab little ice cream shop is a mompreneur whom I met when Logan was only a few months old at a local baby group!

Kindest regards,

Kimberly

Mortgage Transfer Case Study

General Kimberly Coutts 10 Mar

As you know, my personal newsletter isn’t mortgage focused all the time but this was too good not to share.  And if you’re wanting to go straight to the monthly draw and check it out, head to the bottom of the email.  One lucky female whether it’s you or the woman in your life will win one month of Personal FitnessTraining.

Recently I was speaking to a colleague of mine who helped a client transfer their existing mortgage from a major bank into a new mortgage with a lower interest rate AND money in their pocket!  It got me thinking that you likely know a friend or two who currently have a mortgage that is paying 3% or higher in interest rates and perhaps has one or two credit cards or a line of credit that might need to be paid off.  If this sounds familiar then I’d love to speak with them.

The cash back mortgage is right for those homeowners with mortgages up for renewal (if you’re half way through your term we can still chat); have additional high interest debt; they want more cash in their pocket at renewal time and a lower monthly payment.  If you’re planning on staying in your home for at least 5 more years then we should chat.  Wouldn’t you want 1% to 5% in cash back on your current mortgage?

See below for my Mortgage Transfer Case Study

Disclaimer:  Interest rate was 2.84% at the time of transaction however current interest rate is now 3.04% and subject to change.

Given it’s International Women’s Day today the monthly give-away goes to one of my lucky female readers!  If you’d like an opportunity to win this month’s giveaway – which is one month of beMOMSTRONG Monthly Programming from Lisa Lethbridge all you have to do is send me an email and say PICK ME in the subject header.  For the men, you can also enter the contest and win it for that wonderful woman in your life.
Lisa is a certified personal trainer and pre/post natal coach. She works with moms and women in Vancouver to help them gain/ regain their fitness postpartum.  She offers both in-person and online personalised programming.
The program is $75 per month which includes:
  • 3 x workouts per week (they are between 30-40mins long).
  • Coaching, feedback and accountability.
  • Workouts are a combination of strength and HIIT training – they are postpartum safe and also include a number of pelvic floor breath work and exercises.
  • Access to weekly zoom class – Wednesday at 11:30am (first class free for all non-members too!)
  • Facebook Community Group 
  • Content from postpartum experts
Good luck and if you’d think you might be eligible for a cash back mortgage drop me a line for a complimentary consultation.

 

Intentions over Goals

General Kimberly Coutts 20 Jan

I hope this finds you well and you’re having a great start to 2021 despite the continued restrictions and lockdowns.  I count my blessings every day that we live on the West Coast because although we’ve been pummeled with torrential rain the last few weeks…I do see the tulips & daffodils starting to bud.  Signs of spring have already started which I’m grateful for and today is sunny so that’s a bonus!  

January is usually a month of new resolutions and goals however strangely enough this year rather than being super specific and having 3-4 goals in each facet of my life I’ve decided to simplify things and have 5 intentions instead.  I still have big lofty goals however fewer so I can put more focus and energy into them.

  • Spend more quality time with the family without a phone in my face.
  • Get outside for a walk for at least 30 minutes a day.  Once a week with a friend or the family.
  • Prepare 1-2 vegetarian meals per week. (If you have any recipes you’d love to share please do.)
  • Help 10 individuals/family with their home financing needs per month. (This one I’ll need your help to make those recommendations to friends/family & colleagues.)
  • Read one book every 2 weeks. (I’ve already completed one book this month already!)

This month’s draw to a local business will be for a $40 Gift Card to Book Warehouse.  In order to qualify for the draw, I’d love to hear the book(s) that are on your own must read list.  

Below are my top 10 favorite books that I’ve read in no particular order.

  1. A Fine Balance by Rohinton Mistery
  2. The Book of Negroes by Lawrence Hill
  3. The Kite Runner by Khaled Hosseini
  4. Angels and Demons & The Da Vinci Code by Dan Brown
  5. Becoming by Michelle Obama
  6. Lean In: Women, Work, and the Will to Lead by Sheryl Sandberg
  7. Onward: How Starbucks Fought for Its Life without Losing Its Soul by Howard Schultz
  8. Limitless: Core Techniques to Improve Performance, Productivity, and Focus by Jim Kwik
  9. The Big Leap: Conquer Your Hidden Fear and Take Life to the Next Level by Gay Hendricks
  10. Think and Grow Rich by Napoleon Hill

Below are my top 10 books I’d like to read in 2021.  If you see a book that is on your list I’d love to know so that perhaps we can exchange ideas after reading it.  Virtual book club?!  

  1. A Promised Land by Barack Obama (Thanks to hubby for my Christmas Gift)
  2. The Whole-Brain Child: 12 Revolutionary Strategies to Nurture Your Child’s Developing Mind, Survive Everyday Parenting Struggles, and Help Your Family Thrive by Daniel J. Siegel
  3. Sapiens: A Brief History of Humankind by Yuval Noah Harari
  4. Any Known Blood by Lawrence Hill
  5. Cutting for Stone by Abraham Verghese
  6. American Dirt by Jeanine Cummins
  7. How to Raise a Wild Child by Scott D. Sampson (A Vancouver Paleontologist who grew up exploring the UBC Endowment Lands and is best known for being the Presenter on Dinosaur Train for those of you with children.)
  8. Peak:  Secrets from the New Science of Expertise by Anders Ericsson and Robert Pool
  9. The Truths We Hold: An American Journey by Kamala Harris
  10. Man’s Search for Meaning by Victor E. Frankl

Looking forward to hearing about your favorite book and if you’re on Goodreads let me know so I can check out your library. There’s nothing like a steaming cup of hot tea, a cozy blanket and a good book while we wait for the longer days to arrive.

Have a great week,

Kimberly

Happy Clients of the Month:  Kim was excellent to work with. It was our first home and she was incredibly patient and informative. She helped us find a great mortgage rate with a lender that suited our preferences. Something I love about Kim is that she is always accessible and picks up on the first ring. She helps you when you need it. We needed a very quick turnaround and she jumped in head first and turned things around extremely quickly. We appreciated her guidance and hard work and would recommend her to anyone!  ~Jordan & Anna

Giving Tuesday Ideas

General Kimberly Coutts 15 Dec

2020 has been a strange year for many of us. It has affected all of us in unique ways. The impact of COVID-19 has been devastating for some industries while others are having a banner year. I feel fortunate and blessed that my family, friends and colleagues are healthy, safe and for the most part doing ok. It’s my hope that you are doing ok or better than ok – physically, financially, spiritually and mentally. This month, I’ll take a break from my Monthly Giveaway and instead be making a donation towards The  Marc Lalonde Memorial Foundation  which was set up this week on behalf of a fellow colleague in the mortgage industry who lost his life. Although I didn’t know him personally, he was a mentor and a leader in our industry who impacted many, many lives.

It’s with this in mind, on Giving Tuesday I wanted to highlight the ways we can give back to support our community and celebrate generosity. It is a sentiment that is even more important this year. Of course there are so many charitable organizations who could use our monetary donations, so by all means pick one that is close to your heart however these are a few ideas which don’t necessarily involve straight monetary donations.

1. Support Local – If you’re going to purchase gifts or gift cards, support an independent restaurant Cold Tea, La Bodega or The Parlour  are a few favorites, a start-up bakery (Best Kind Bakeshop), a local artist (Nima Stoneware, Englebert Romero or Draw Me Mollie), a local attraction (Capilano Suspension Bridge or a local shop (Presidio). Think Local!

2. Holiday Meal Help – If you’re looking to take a break from cooking over the holidays, but still want something festive, check out local caterers The Pacific Yacht or Emelle’s Catering who are providing turkey dinners without all the work. Want to add some fun libations – check out The Bar Cart who can deliver creative cocktails to your door.

3. Stocking Stuffers for Seniors – The holidays can be an extremely lonely time for seniors who live alone, why not brighten someone’s day by visiting a London Drugs location near you and picking up a gift tag for a senior who could use some cheer. Details can be found here.

4. Lower Mainland Christmas Bureau – Given that many of their drives have been cancelled this year and the number of people who are unemployed, I imagine there will be a large number of families who will be reaching out to them. They typically have a high need for gifts for tweens and teenagers. As an individual who was a recipient of a Christmas Hamper as a young child when my own dad was laid off I remember the day we received the hamper filled with food and presents. I remember sitting on our stairs unpacking the box of goodies and presents and how happy it made my sisters and I.

5. Donate Blood – This one doesn’t cost you a dime and the need for blood is constant so book an appointment before the holidays!

6. Bring a smile to a neighbour – Deliver home-made cookies and a Christmas Card to a senior or Individual that you know lives alone in your building/neighbourhood. Bonus points for those of you that have children and can have the kids draw a picture. You can bring so much joy and a smile to someone with this small gesture, especially if they have been in isolation for months and months.

7. YMCA Holiday Giving Programs – Sponsor a family through Presents of Peace or make a donation to Simplify the Season.

8. Christmas Backpack Program with Covenant House – Participate in their Christmas Backpack program so that homeless youth can receive a backpack full of gifts for the holidays. To make it easy, Covenant House has a Wishlist on Amazon where you can purchase the much needed items which will then be shipped directly to the organization for distribution.

9. Reduce, Recycle & Reuse – If you’re refreshing your home and need to dispose of your furniture, donate it to Homestart who help people re-establish a home.

10. Connect with a friend/colleague/family member. As we move through the 2nd phase of COVID and we are in various stages of lockdown across the country, a phone call, a text message or a Facetime to say Hi could be the thing that someone needs most at that moment. I always have a hesitation about picking up the phone as I don’t want to disrupt someone’s day however when a friend calls me out of the blue it makes me feel awesome to connect. As most of us continue to work from home sometimes you need a friendly voice to break up the monotony of Groundhog Day that we have been living in for the last 9 months.

On that note, although it’s early and only December 1st let me be the first to wish you the Happiest of Holidays during this very interesting year. From my family to yours we wish you a healthy, happy and safe Holiday Season and that 2021 will be a better year than the last. If ever you want to connect via a phone call, text or Facetime for a chat, don’t hesitate to reach out. Rest assured in the weeks/months to come I’ll be connecting with you to do just that – check in, say hi and offer help in any way I can.

I would love to hear from you about how you have been able to give back to your community.

Kindest regards,
Kimberly

 

Welcome to Kim’s VIP Club

General Kimberly Coutts 15 Dec

Most of you know that I spent the last 15+ years in Business Development within the Hospitality and Tourism sector selling luxury hotels and experiences. I loved my job and was lucky to share once-in-a-lifetime experiences with clients and partners who I now call life-long friends. Drinking champagne in an ice-cave after landing from a heli sight-seeing flight never gets old!

However, when COVID-19 started and borders closed in March all of sudden travel, events and the incentive industry came to a grinding halt. Given that events likely won’t be coming back anytime soon I am super grateful I have an opportunity to work on my passion project full time. The fact that I can focus on helping individuals and families build their own personal wealth every day all day through the purchase or refinance of their homes is very exciting.

So, having said all of this I’m going to be re-engaging more with all of YOU my clients, preferred partners, referral cheerleaders and future new clients via my VIP Club. I’ll send interesting tidbits of mortgage information, keeping in touch, and offering a cool giveaway to keep things exciting.

If you know of anyone else that could use my services and is looking to purchase or refinance I’m always open to an introduction!  My promise to you is that I’ll always provide exceptional service to your valued referral.

** Every month I’ll be doing a draw to support a local business.  Given that COVID has impacted us all in different ways, with small businesses some of the hardest hit I’ll be doing monthly give-aways so that those in my VIP Club can discover new local businesses or perhaps visit old favorites.