Fraser Valley

Mortgage Professional

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Luisa Hough

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.

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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!

55+ and looking for solutions to enhance your lifestyle?

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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The Source Of Your Downpayment Matters

By Luisa Hough • April 23, 2025

If you’re looking to purchase a property, although you might not think it matters too much, the source of your downpayment means a great deal to the lender. Let’s discuss the lender requirements, what your downpayment tells the lender about your financial situation, a how downpayment helps establish the mortgage loan to value. Anti-money laundering Lenders care about your downpayment source because, legally, they have to. To prevent money laundering, lenders have to document the source of the downpayment on every home purchase. Acceptable forms of downpayment are money from your resources, borrowed funds through an insured program called the FlexDown, or money you receive as a gift from an immediate family member. To prove the funds are from your resources and not laundered money from the proceeds of crime, you’ll be required to provide bank statements showing the money has been in your account for at least 90 days or that you’ve accumulated the funds through payroll deposits or other acceptable means. Now, if you’re borrowing all or part of your downpayment, you’ll need to include the costs of carrying the payments on the borrowed downpayment in your debt service ratios. If you’re the recipient of a gift from a direct family member, you’ll need to provide a signed gift letter indicating that the funds are a true gift and have no schedule for repayment. From there, you’ll need to show the money deposit into your account. Financial suitability Lenders care about the source of the downpayment because it is an indicator that you are financially able to purchase the property. Showing the lender that your downpayment is coming from your resources is the best. This demonstrates that you have positive cash flow and that you’re able to save money and manage your finances in a way that indicates you’ll most likely make your mortgage payments on time. If your downpayment is borrowed or from a gift, there’s a chance that they’ll want to scrutinize the rest of your application more closely. The bigger your downpayment, the better, well, as far as the lender is concerned. The way they see it, there is a direct correlation between how much money you have as equity to the likelihood you will or won’t default on their mortgage. Essentially, the more equity you have, the less likely you will walk away from the mortgage, which lessens their risk. Downpayment establishes the loan to value (LTV) Thirdly, your downpayment establishes the loan to value ratio. The loan to value ratio or LTV is the percentage of the property’s value compared to the mortgage amount. In Canada, a lender cannot lend more than 95% of a property’s value. So, if you’re buying a home for $400k, the lender can lend $380k, and you’re responsible for coming up with 5%, $ 20k in this situation. But you might be asking yourself, how does the source of the downpayment impact LTV? Great question, and to answer this, we have to look at how to establish property value. Simply put, something is worth what someone is willing to pay for it and what someone is willing to sell it for. Of course, within reason, having no external factors coming into play. When dealing with real estate, an appraisal of the property will include comparisons of what other people have agreed to pay for similar properties in the past. You’ll often hear of situations where buyers and sellers try to inflate the sale price to help finalize the transaction artificially. Any scenario where the buyer isn’t coming up with all of the money for the downpayment, independent of the seller, impacts the LTV. All details of a real estate transaction purchase and sale have to be disclosed to the lender. If there’s any money transferring behind the scenes, this impacts the LTV, and the lender won’t proceed with financing. Non-disclosure to the lender is mortgage fraud. So there you have it; hopefully, this provides context to why lenders ask for documents to prove the source of your downpayment. If you’d like to talk about mortgage financing, please connect anytime; it would be a pleasure to work with you.

Bank of Canada Rate Announcement Apr 16th, 2025

By Luisa Hough • April 16, 2025

Bank of Canada holds policy rate at 2¾%. FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario April 16, 2025 The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. The major shift in direction of US trade policy and the unpredictability of tariffs have increased uncertainty, diminished prospects for economic growth, and raised inflation expectations. Pervasive uncertainty makes it unusually challenging to project GDP growth and inflation in Canada and globally. Instead, the April Monetary Policy Report (MPR) presents two scenarios that explore different paths for US trade policy. In the first scenario, uncertainty is high but tariffs are limited in scope. Canadian growth weakens temporarily and inflation remains around the 2% target. In the second scenario, a protracted trade war causes Canada’s economy to fall into recession this year and inflation rises temporarily above 3% next year. Many other trade policy scenarios are possible. There is also an unusual degree of uncertainty about the economic outcomes within any scenario, since the magnitude and speed of the shift in US trade policy are unprecedented. Global economic growth was solid in late 2024 and inflation has been easing towards central bank targets. However, tariffs and uncertainty have weakened the outlook. In the United States, the economy is showing signs of slowing amid rising policy uncertainty and rapidly deteriorating sentiment, while inflation expectations have risen. In the euro area, growth has been modest in early 2025, with continued weakness in the manufacturing sector. China’s economy was strong at the end of 2024 but more recent data shows it slowing modestly. Financial markets have been roiled by serial tariff announcements, postponements and continued threats of escalation. This extreme market volatility is adding to uncertainty. Oil prices have declined substantially since January, mainly reflecting weaker prospects for global growth. Canada’s exchange rate has recently appreciated as a result of broad US dollar weakness. In Canada, the economy is slowing as tariff announcements and uncertainty pull down consumer and business confidence. Consumption, residential investment and business spending all look to have weakened in the first quarter. Trade tensions are also disrupting recovery in the labour market. Employment declined in March and businesses are reporting plans to slow their hiring. Wage growth continues to show signs of moderation. Inflation was 2.3% in March, lower than in February but still higher than 1.8% at the time of the January MPR. The higher inflation in the last couple of months reflects some rebound in goods price inflation and the end of the temporary suspension of the GST/HST. Starting in April, CPI inflation will be pulled down for one year by the removal of the consumer carbon tax. Lower global oil prices will also dampen inflation in the near term. However, we expect tariffs and supply chain disruptions to push up some prices. How much upward pressure this puts on inflation will depend on the evolution of tariffs and how quickly businesses pass on higher costs to consumers. Short-term inflation expectations have moved up, as businesses and consumers anticipate higher costs from trade conflict and supply disruptions. Longer term inflation expectations are little changed. Governing Council will continue to assess the timing and strength of both the downward pressures on inflation from a weaker economy and the upward pressures on inflation from higher costs. Our focus will be on ensuring that Canadians continue to have confidence in price stability through this period of global upheaval. This means we will support economic growth while ensuring that inflation remains well controlled. Governing Council will proceed carefully, with particular attention to the risks and uncertainties facing the Canadian economy. These include: the extent to which higher tariffs reduce demand for Canadian exports; how much this spills over into business investment, employment and household spending; how much and how quickly cost increases are passed on to consumer prices; and how inflation expectations evolve. Monetary policy cannot resolve trade uncertainty or offset the impacts of a trade war. What it can and must do is maintain price stability for Canadians. Information note The next scheduled date for announcing the overnight rate target is June 4, 2025. The Bank will publish its next MPR on July 30, 2025. Read the April 16th, 2025 Monetary Report

How Do You Port a Mortgage?

By Luisa Hough • April 9, 2025

Porting your mortgage is when you transfer the remainder of your current mortgage term, outstanding principal balance, and interest rate to a new property if you’re selling your existing home and buying a new one. Now, despite what some big banks would lead you to believe, porting your mortgage is not an easy process. It’s not a magic process that guarantees you will qualify to purchase a new property using the mortgage you had on a previous property. In addition to re-qualifying for the mortgage you already have, the lender will also assess the property you’re looking to purchase. Many moving parts come into play. You’re more likely to have significant setbacks throughout the process than you are to execute a flawless port. Here are some of the reasons: You may not qualify for the mortgage Let’s say you’re moving to a new city to take a new job. If you’re relying on porting your mortgage to buy a new property, you’ll have to substantiate your new income. If you’re on probation or changed professions, there’s a chance the lender will decline your application. Porting a mortgage is a lot like qualifying for a new mortgage, just with more conditions. The property you are buying has to be approved So let’s say that your income isn’t an issue and that you qualify for the mortgage. The subject property you want to purchase has to be approved as well. Just because the lender accepted your last property as collateral for the mortgage doesn’t mean the lender will accept the new property. The lender will require an appraisal and scrutinize the condition of the property you’re looking to buy. Property values are rarely the same Chances are, if you’re selling a property and buying a new one, there’ll be some price difference. When looking to port a mortgage, if the new property’s value is higher than your previous property, requiring a higher mortgage amount, you’ll most likely have to take a blended rate on the new money, which could increase your payment. If the property value is considerably less, you might incur a penalty to reduce the total mortgage amount. You still need a downpayment Porting a mortgage isn’t just a simple case of swapping one property for another while keeping the same mortgage. You’re still required to come up with a downpayment on the new property. You’ll most likely have to pay a penalty Most lenders will charge the total discharge penalty when you sell your property and take it from the sale proceeds. The penalty is then refunded when you execute the port and purchase the new property. So if you are relying on the proceeds of sale to come up with your downpayment, you might have to make other arrangements. Timelines rarely work out When assessing the housing market, It’s usually a buyer’s market or a seller’s market, not both at the same time. So although you may be able to sell your property overnight, you might not be able to find a suitable property to buy. Alternatively, you may be able to find many suitable properties to purchase while your house sits on the market with no showings. And, chances are, when you end up selling your property and find a new property to buy, the closing dates rarely match up perfectly. Different lenders have different port periods Understanding that different lenders have different port periods is where the fine print in the mortgage documents comes into play. Did you know that depending on the lender, the time you have to port your mortgage can range from one day to six months? So if it’s one day, your lawyer will have to close both the sale of your property and the purchase of your new property on the same day, or the port won’t work. Or, with a more extended port period, you run the risk of selling your house with the intention of porting the mortgage, only to not be able to find a suitable property to buy. So while the idea of porting your mortgage can seem like a good idea, and it might even make sense if you have a low rate that you want to carry over to a property of similar value, it’s always a good idea to get professional mortgage advice and look at all your options. While porting your mortgage is a nice feature to have because it provides you with options, please understand that it is not a guarantee that you’ll be able to swap out properties and keep making the same payments. There’s a lot to know. If you’re looking to sell your existing property and buy a new one, please connect anytime. It would be a pleasure to walk you through the process and help you consider all your options, including a port if that makes the most sense!

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