Calgary Mortgage Specialist PowerPoint PPT Presentations

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For most of us, trying to make sense of the terminology surrounding mortgages can be mind boggling to say the least. But, with this short guide to the most commonly used words and terms, you can begin to turn nonsense, into sense:

We might be heading towards the halfway point of the year, but that doesn’t mean that you can’t reassess your financial goals and begin preparing to get a mortgage loan; not all resolutions have to be made on the 1st January! With this in mind, here are a few tips to help you better manage your finances and begin saving for a mortgage:

If you’ve been unfortunate enough to go through a bankruptcy or consumer proposal, and need to apply for a mortgage loan to purchase a property, you’ll find that it might be a lot tougher than you anticipated.

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Mortgages need not be complex and intimidating, especially if you work with a local mortgage broker, but it is important to have a basic understanding of how they work, and perhaps more importantly, how they don’t work.

There may come a time in life when refinancing your mortgage is a viable option, and there are several reasons in which this might be the case. To find out if refinancing your mortgage is a wise decision for you, speaking to a mortgage broker or financial advisor could help you decide.

At the beginning of the year, Canada’s housing debt was recorded at its highest in over a decade, and with the average purchase price of a home in Canada increasing by more than 40%, it’s little wonder more and more Canadians are getting themselves into mortgage debt.

Canadas new mortgage rules can have an impact upon your mortgage, whether you’re looking to purchase your first home, or want to switch mortgages or refinance; the following guide should help you make an informed choice:

While paying off a high-interest consumer loan, or financing home improvements with the money from a second mortgage, is a worthwhile and sound idea, there is a better way to use that money: make a down payment on a rental property.

You may not realize it, but when it comes to crimes of a financial nature, mortgages give fraudsters many opportunities to steal and swindle innocent people out of their money. Here are some important facts about mortgage fraud and ways in which you can avoid becoming a victim:

Renewing your mortgage automatically may not be the right choice for everyone, and a lot will depend upon your current financial position, you’re your future financial goals.

There can be many reasons for wanting (or needing) to renew your mortgage, from changes in your financial circumstances, to being dissatisfied with your existing lender, but whatever your reason, renewing can be a fantastic opportunity to make some much needed changes.

With the recent announcement of a new and effective vaccine on the horizon, bond yields in Canada and the U.S. are hovering right around 0.50%, the first time they’ve done so since the beginning of June. Bond yields lead fixed mortgage rates, causing some to suggest that mortgage rates could be finding a bottom and may only get higher from now on in. With the profit margins of lenders already exceptionally tight, rising yields are doing nothing to help and are in fact, tightening their margins even more. Some within the industry have observed that if yields continue to rise, banks will waste no time taking their fixed rates with them. That said, experts predict that the future is bright where the housing market and mortgage rates are concerned, and that 2021 will be all about recovery.

For those who have never chosen to seek help from a mortgage broker, it may be because you’ve heard a few things about them that just aren’t true.

There can be many reasons why a homeowner might choose to refinance their mortgage; read on to find out about the most popular reasons, and learn whether it’s the right decision for you:

For anyone wanting to purchase their first property, the process can seem more than a little daunting, and knowing who to turn to for help and advice, not to mention your mortgage, can be confusing. To help you, here are the 3 main places to get your mortgage from:

Influencing the health of the economy are many factors, from unemployment and inflation, to consumer confidence and the housing market, and any number of these, when combined, can also influence fixed and variable mortgage rates.

When it comes to applying for a mortgage in Canada, it could benefit you to have someone co-sign it for you, and below we take a look at co-signing in a little more detail:

As a significant financial investment, purchasing a home is difficult for many people without a mortgage, and while there are no solid guarantees that you’ll be approved for the mortgage of your choice, you can take the following steps to give yourself the best chance of making it happen:

Taking advantage of low interest rates (historically low, in Canada’s case) is possible with a mortgage pre-approval, and while it doesn’t provide you with a guarantee that you’ll be approved for a mortgage, it does give you the opportunity to lock in a low interest rate – if only for a matter of weeks. This means that even if rates go up in the future, you could still get that the great rate that’s available today.

Most mortgages in Canada are limited to a 25-year amortization period (the total life of a mortgage), and this is mainly because mortgages requiring CMCH insurance coverage have a 25-year maximum. However, 30-year mortgages do exist in Canada, but you’ll need to have a low-ratio mortgage that won’t be subject to long-term finances.

As one of the most significant purchases most of us will make in our lifetime, a mortgage is a big deal, and as such, it can help to save money on it wherever, and whenever you can. Even the smallest of changes in an interest rate can make a big difference to the amount you have to pay on your mortgage, making understanding the factors that can impact these rates, very important.

With Canadian mortgage rates at an all-time low, questions are being asked as to just how long they’ll remain that way, and what factors will affect it the most. Undoubtedly at the moment, the COVID-19 vaccination race and their earlier than anticipated arrival, paints a reasonably optimistic economic forecast. The ongoing lockdown continues to hamper the economy, making vaccination rates vital, and the race to achieve herd immunity, an ever more desperate one.

When it comes to mortgage borrowing, we all know that a credit score is taken into accountant by lenders, but did you know that the credit report they see, is not the one you might be seeing?

It can be easy to miss private mortgage lenders among the noise and glossy advertising of Canada’s Big 5, but they are often viewed as saviours by some individuals or institutions when financing options are unavailable to them. Private mortgage lenders offer short term asset backed loans for the purchase of a property, and they can be a fantastic alternative to other, regular financing options, depending upon your circumstances.

The following mortgage options are the most common, and knowing which one is best suited to you and your personal circumstances, can be achieved with the help of a qualified and experienced mortgage broker.

It is often thought of as being a big financial achievement to pay off your home mortgage before you retire, but in many cases, you can still retire in comfort without having paid off all your housing debt. With some low mortgage interest rates, it can be a more sensible financial decision to carry on making the payments once you’ve retired, and here are a few other examples of when it might make good sense to keep your mortgage into retirement:

In not knowing or understanding the vital role that a mortgage broker can play you stand to lose what could amount to thousands of dollars in long term savings. Here are just 6 of the reasons why it makes sense to use a mortgage broker:

A mortgage is likely to be one of the biggest expenses of your life, and a major financial investment, but once you’ve found the right one for you, who’s to say that it will remain the right one for you, years down the line? With such a big chunk of your money being expended annually, it pays to be sure that you’re still getting the best rates, and the best of way of doing this is to engage with a broker who can help you conduct a review of your current mortgage. Some refer to this as a home loan health check, but whatever you choose to call it, carrying out a review of your current mortgage could help you take advantage of new market conditions, and potentially save big in dollars:

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Predictions made by experts within the housing and mortgage market, suggest that housing activity in Canada will continue to be strong throughout 2021 and even into the following year, and it’s estimated that 701,000 homes will be sold through Canadian MLS systems this year. It’s also predicted that the national average price of a home will grow by as much as 16.5% annually, hitting a high of $665,000.

Predictions made by experts within the housing and mortgage market, suggest that housing activity in Canada will continue to be strong throughout 2021 and even into the following year, and it’s estimated that 701,000 homes will be sold through Canadian MLS systems this year. It’s also predicted that the national average price of a home will grow by as much as 16.5% annually, hitting a high of $665,000.

If you’ve got debts to pay off and are struggling to manage them, you might want to consider debt consolidation.

Whether you’re planning for life after the arrival of your first child, or are searching for a place to put down some roots and expand your family in the future, the options can be a little overwhelming. With home prices having soared in recent years, too, you might be more than a bit bewildered with the whole process.

The single most effective way to make sure that when the time comes to purchase your first home, you’re able to afford it, is by taking the time to conduct thorough research, and being honest about your income and expenditures.

Whether you’ve outgrown your current home, are fed up of the area you’re living in, or are wanting to get your foot on the property ladder for the first time; you know you need a new home, but have you thought long and hard about what you realistically want from it?

Whether you’re a Canadian homeowner getting involved in a home improvement project, or an investor, with the evidence showing that doing so can have numerous benefits, it’s little wonder so many Canadians are starting such projects. For those wishing to improve their home for livability purposes, home improvements can have an immensely positive impact on daily life, whereas for investors, renovations can help improve a property’s salability and increase its value.

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Mortgages are a significant outgoing for most, and it’s important that we pay as little as we need to, in order to avoid financial ruin. However, on occasion, small details within a mortgage contract may be overlooked and can lead to individuals having to pay an inflated amount, and this usually occurs when you don’t use the services of a mortgage broker.

If you’re looking for a mortgage to buy a new property, then your best bet is to meet with an experienced mortgage broker who can help you find out your eligibility and choose the best option for your financial circumstances, from a range of lenders.

While there is some advice for buying a home that can be applied to almost everyone, for some groups of buyers, such as singles, the self-employed and parents-to-be, the challenges and obstacles they face are different, and require a unique set of mortgage tips and guidance:

It’s not always easy to qualify for a mortgage, and with government regulations increasingly targeting down payments, high ratio buyers and investment properties, more and more Canadians – including those who are self-employed, living in rural areas or have a poor credit history - are continuing to struggle to qualify for a home loan.

It might be easy to assume that if you’re a regular customer at a local bank and have a good relationship with them, they’ll automatically get you the best deal on a mortgage; but this may not always be the case. Better terms and interest rates may be offered in exchange for loyalty to current customers, but even if this is the case, it simply makes sense to shop around, just as you would if you were buying an expensive item from a store.

If you’re a first-time home buyer, or haven’t sought a loan to buy a property for a good many years, you may have some unanswered questions about the mortgage payment process; below are answers to some of the most common questions:

Planning to buy a new home? Don’t have any idea regarding this. Then hire a mortgage broker. Before you start the hiring process, read the information given here about mortgage brokers.

If you’re looking to buy a new home, no longer are you restricted to the Big 5 as your only options for applying for a mortgage. Nowadays, alternative mortgage lenders – often referred to as ‘B’ lenders’ – are growing in popularity and the choices are wider than ever before.

When making what is likely to be the biggest purchase of your life, you want to be sure you get the very best deal possible, but how can you guarantee this? With so many banks, lenders and brokers all waiting eagerly to take your loan application, what can you do to ensure you get a great mortgage deal?

Being self-employed can be a great way to earn a living doing the things you love or are great at (or both), and for as many as 13% of Canadians, that’s exactly what they’re doing. However, many believe that being self-employed prohibits them from being approved for a mortgage, or at the very least, makes it much more difficult for them. The reality is though, that it’s absolutely possible for a self-employed Canadian to find a great mortgage deal, they may simply have to jump through a few more hoops to get it.

Whether you had started to search for a new home before the pandemic struck or are just now beginning to think about your options in the light of Covid-19, you might be wondering whether a new mortgage is even possible right now. Well, rest assured that it is possible, but with several caveats, and a mortgage broker is absolutely the best person to help explain these to you:

The amount that you can afford to put towards a down payment is arguably one of the single most important things to consider when buying a home. Affecting both the amount that you need to borrow, and the financing options available to you, a down payment is crucial for enabling you to buy the property of your choice. While down payments are undoubtedly essential, saving for them can be tricky, and some people really struggle. With this in mind, here are 7 money saving tips that can help you reach your mortgage goals far sooner:

Working for yourself can be hugely rewarding, and millions of Canadians are happily self-employed. However, when it comes to buying a home, it can make getting approval for a home loan all the more difficult, as the major banks require borrowers to have secure, stable and long-term employment, and on average, require at least 2 years of income statements to qualify.

An exciting prospect for many, buying your first home can also be a time of great uncertainty and stress, and as one of the biggest financial decisions you may ever be likely to make, it’s little wonder that it’s a big deal for so many.