Customer care is the cornerstone of my business.

Luisa’s career as a committed mortgage professional spans over 17 years during which time she has helped thousands of Canadians achieve homeownership. Having established a sound reputation for excellence and outstanding service, her astute and genuine approach has allowed her to build and cultivate a trusted clientele and quality referral network. 


During Luisa’s tenure and as co-founder of one of the most highly respected mortgage companies in Canada and the industry, Verico Xeva Mortgage, she has been instrumental in its continued growth and success through her drive and passion, as well as her solid work ethic and commitment to transparency. This has earned her multiple accolades over the years including Broker of The Year 2016 & 2021, Finalist-Broker of the Year 2013-2021 respectively, Top 75 Broker Nationally for 10 years consecutively, and CMP Magazine’s 2020 & 2021 Hot List. Lastly and most distinctly, by virtue of Luisa’s strong, inspiring leadership, supportive nature, and warm professional manner, she received the Women of Influence distinction in both 2018 & 2020 becoming a trailblazer for many women seeking to emulate the same achievements. As such, Luisa has been invited to share her best practices and collaborate at many different industry events continuously raising the bar and elevating the industry to higher standards. Luisa has helped shape Xeva Mortgage to include a solid infrastructure and unique underwriting center attributing to this consistent success and overall growth. 


It’s through Luisa’s resolute process of educating clients and having a great eye for detail, where she can focus on building her client’s financial journey and providing a professional service throughout the life of the mortgage, ultimately assisting Canadians in achieving their full financial goals. 

There have been countless changes industry-wide over recent years, notwithstanding, Luisa has been able to achieve a strong and healthy balance between work and family life. Ongoing investment in herself and her personal development is what she attributes to her success both personally and professionally. This has also allowed her to tap into her philanthropic side as she has an incredible passion for charitable endeavors and strongly desires to give back to many initiatives in need. Being a regular donor to the BC Children’s Hospital and her own Pay it Forward campaign, Luisa is also an active member of Habitat for Humanity, 100 Brokers Who Care, and Women of Options. Her shared compassion with 50 other top influential women in Surrey, BC supports the Women of Options Organization in securing affordable housing for women of varying age groups and demographics who may otherwise find themselves homeless. As Luisa continues to grow both professionally and personally, so too does her desire to continue helping those around her who are in need. 


Luisa continually inspires others,
has an innovative and open spirit for everyone to learn and share, allowing her to continue making connections with her fellow colleagues and industry leaders for years to come. 

Are you looking to buy a new home, refinance or renew an existing mortgage?


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Home Purchase

If you are looking to purchase a property in Vancouver or surrounding areas, understanding all the mortgage options available to you can seem overwhelming. The market is hot and having a clear plan is a must. That’s where I come in. I do this everyday, and I love it. I will help you make sense of all the numbers and provide you with options that make sense to you so you can shop with confidence. Contact me anytime!

Renewal or Refinance

Whether your mortgage is up for renewal within 120 days and you are looking to get the best available mortgage product for your next term or you are mid-term looking to access some of the equity in your property to start a new business, we should talk! If you already own a home and want to make sure you have the best mortgage in place, please contact me anytime! Regardless of your situation, I have the knowledge, experience and desire to make sure you are completely taken care of.

Repeat or New Clients

If you are an existing client of mine, I am excited to continue working with you in order to make sure you have the best mortgage product available to you at anytime; please drop a note in the contact box at the bottom of this page, even if it is just to say hello! However if you have never used my services, I am currently taking on new clients and would love to offer you the same level of service all my existing clients receive. To see what others have said about me, consider checking out the testimonials section below!

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I offer multiple options including Reverse Mortgages, HELOC, standard and private financing to find the right retirement mortgage option for you.

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I keep my blog updated regularly so you can stay informed!


By Luisa Hough 27 Mar, 2024
If you’re new to the home buying process, it’s easy to get confused by some of the terms used. The purpose of this article is to clear up any confusion between the deposit and downpayment. What is a deposit? The deposit is the money included with a purchase contract as a sign of good faith when you offer to purchase a property. It’s the “consideration” that helps make up the contract and binds you to the agreement. Typically, you include a certified cheque or a bank draft that your real estate brokerage holds while negotiations are finalized when you offer to purchase a property. If your offer is accepted, your deposit is held in your Realtor’s trust account. If your offer is accepted and you commit to buying the property, your deposit is transferred to the lawyer’s trust account and included in your downpayment. If you aren’t able to reach an agreement, the deposit is refunded to you. However, if you commit to buying the property and don’t complete the transaction, your deposit could be forfeit to the seller. Your deposit goes ahead of the downpayment but makes up part of the downpayment. The amount you put forward as a deposit when negotiating the terms of a purchase contract is arbitrary, meaning there is no predefined or standard amount. Instead, it’s best to discuss this with your real estate professional as your deposit can be a negotiating factor in and of itself. A larger deposit may give you a better chance of having your offer accepted in a competitive situation. It also puts you on the hook for more if something changes down the line and you cannot complete the purchase. What is a downpayment? Your downpayment refers to the initial payment you make when buying a property through mortgage financing. In Canada, the minimum downpayment amount is 5%, as lenders can only lend up to 95% of the property’s value. Securing mortgage financing with anything less than 20% down is only made possible through mortgage default insurance. You can source your downpayment from your resources, the sale of a property, an RRSP, a gift from a family member, or borrowed funds. Example scenario Let’s say that you are looking to purchase a property worth $400k. You’re planning on making a downpayment of 10% or $40k. When you make the initial offer to buy the property, you put forward $10k as a deposit your real estate brokerage holds in their trust account. If everything checks out with the home inspection and you’re satisfied with financing, you can remove all conditions. Your $10k deposit is transferred to the lawyer’s trust account, where will add the remaining $30k for the downpayment. With your $40k downpayment made, once you sign the mortgage documents and cover the legal and closing costs, the lender will forward the remaining 90% in the form of a mortgage registered to your title, and you have officially purchased the property! If you have any questions about the difference between the deposit and the downpayment or any other mortgage terms, please connect anytime. It would be a pleasure to work with you.
By Luisa Hough 20 Mar, 2024
If you’ve been thinking about selling your existing property, for whatever reason, it would be in your best interest to connect with an independent mortgage professional before calling your real estate agent or listing it yourself. And while talking with your mortgage professional might not sound like the most logical place to start, here are a few scenarios that explain why it makes the most sense. If you’re buying a new property If you’re selling your property, chances are, you’ll have to move somewhere! So, if you plan on buying a new property using the equity from the sale of your existing property, chances are you’ll need a new mortgage. Don’t assume that just because you’ve secured mortgage financing before, that you’ll qualify again. Mortgage rules are constantly changing; make sure you have a pre-approval in place before you list your property. Also, by connecting with a mortgage professional first, you can look into your existing mortgage terms. You might be able to port your mortgage instead of getting a new one, which could save you some money. If you’re not buying a new property Even if you aren’t buying a new property and want to sell your existing property, it’s still a good idea to connect with a mortgage professional first, as we can look at the cost of breaking your mortgage together. Unless you have an open mortgage, or a line of credit, there will be a penalty to break your mortgage. The goal is to work on a plan to minimize your penalty. Because of how mortgage penalties work, sometimes it’s just a matter of waiting a few months to save thousands. You'll never know unless you take a look at the details. Marital breakdown The simple truth is that marriages break down. When that happens, often, people want closure, and unfortunately, they make decisions without really thinking them through or seeing the full picture. So, instead of simply selling the family home because that feels like the only option, please know that special programs exist that allow one party to buy out the former spouse. The key here is to have a legal separation agreement is in place. If you’d like to discuss the sale of your property and your plans for the future, connect anytime. It would be a pleasure to work with you!
By Luisa Hough 13 Mar, 2024
Your downpayment refers to the initial payment you make when buying a property through mortgage financing. A downpayment is always required when purchasing, because in Canada, lenders are only allowed to lend up to 95% of the property value, leaving you with the need to come up with at least 5% for a downpayment. In fact, securing mortgage financing with anything less than 20% down is only made possible through mortgage default insurance. Canada has three default insurance providers: the Canadian Mortgage and Housing Corporation (CMHC), Sagen (formerly Genworth Canada), and Canada Guaranty. There is a cost for default insurance which is usually rolled into the total mortgage amount and is tiered depending on how much you put down. As your downpayment can be a significant amount of money, you probably need a plan to put this money together. So, let’s take a look at some of the options you have to come up with a downpayment. Money from your resources If you’ve been saving money and have accumulated the funds and set them aside for to use for your downpayment, you'll need to prove a 90-day history of those funds. As far as the lender is concerned, this is the most straightforward way to prove a downpayment. Any large deposits to your bank account that aren’t from payroll will require you to prove the source of funds. For example, if you recently sold a vehicle, you’ll need to provide the paperwork as proof of ownership, which corresponds to your account’s deposit. Or, if you have funds in an investment account that you’ve transferred over, statements of that transfer or account would suffice. You have to prove the source of your downpayment funds to the lender when qualifying for a mortgage to help prevent money laundering. Funds from the sale of another property If you’ve recently sold a property and you’re using the proceeds of that sale as the downpayment from your new purchase, you can provide the paperwork from that transaction to substantiate your downpayment. RRSPs through the Home Buyer’s Plan Okay, so let’s say you don’t have all the money set aside in your savings, but you do have cash in your RRSP. Assuming you’re a first-time homebuyer, you can access the funds from your RRSP Tax-Free to use as a downpayment. You’re able to access up to $35k individually or $70k as a couple. The money has to be paid back over the next 15 years. If you’d like more information on what this program looks like, please get in touch. Gifted downpayment Now, if you don’t have enough money in your savings, but you have a family member who is willing to help, they can gift you funds for your downpayment. With the increased cost of living, making it harder to save for a downpayment, receiving a gift from a family member is becoming increasingly commonplace. Now, to qualify, the gift has to come from an immediate family member who will sign a gift letter indicating there is no schedule of repayment and that the gift doesn’t have to be repaid. Proof that the money has been deposited into your account is required through bank statements. Gifted funds can make up part of or the entire amount of downpayment. For example, if you purchase a property for $300k and have $10k saved up, your parents can gift you the remaining $5k to make up the total 5% downpayment. Borrowed downpayment Suppose you aren’t fortunate enough to have a family member who can gift you a downpayment, but you have excellent credit and a high income compared to the amount you’re looking to borrow. In that case, you might qualify to borrow part or all of your downpayment. It’s possible to borrow your downpayment as long as you include the payments in your debt service ratios. Typically this is 3% of the outstanding balance. So there you have it, to qualify for a mortgage, you’ll need to come up with a downpayment. That can be through your resources, a property you sold, an RRSP, a gift from a family member, borrowed funds, or a combination of all five sources. If you’d like to discuss your downpayment or anything else related to mortgage financing; it’s never too early to start the conversation about getting pre-approved for a mortgage. Please connect anytime. It would be a pleasure to work with you!
MORE FROM THE BLOG

Videos

If you are new to the mortgage process, here are a couple of videos to help you get started.


Awards


Recent Awards

  • 2021 Canadian Mortgage Awards Winner- Mortgage Broker of the Year
  • 2020 Canadian Mortgage Awards Finalist - Mortgage Broker of the Year
  • 2019 Canadian Mortgage Awards Finalist - Mortgage Broker of the Year
  • 2016 Canadian Mortgage Awards Finalist - Mortgage Broker of the Year
  • 2015 Canadian Mortgage Awards Winner Xeva – Best Newcomer Brokerage
  • 2014 Best of Now Magazine – Readers Choice Best Mortgage Broker Winner
  • 2013 Vancouver 5 Star Mortgage Professional
  • 2013 First National Financial LP Outstanding Achievement Award
  • 2013 Vancouver Magazine – Top Mortgage Professionals
  • 2012 CMP Awards – Syndicate Mortgages Mortgage Broker of the Year Fewer than 25 Employees
  • 2011 CMP Awards – “Broker of the Year” Finalist
  • 2010 CMP Magazine Top 50 Brokers in Canada by volume. Rank 30th


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