Tagged : Calgary Mortgage

Found 10 blog entries tagged as "Calgary Mortgage".

Mortgage Life Insurance vs Mortgage Term InsuranceWhen you have purchased a new home you'll also be asked whether you'd like to buy mortgage life insurance as well. This is sure is that is offered by the same thing that you're dealing with for your mortgage. In some cases it will make sense to get this type of insurance and other times it's a complete waste of time and money.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

The Difference Between Mortgage Life Insurance and Term Life Insurance

There are significant differences to consider when choosing whether mortgage life or term life insurance is the best choice to meet your specific needs. Whereas mortgage life insurance is designed to pay off

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What to Know About Seller FinancingIf you are selling your home you may have considered using seller financing to get it sold quickly. By seller financing we mean lending money to the person that is buying your home and acting as a financial institution for them. Contracts can be made up that allow you to loan the money to the buyer and then collect the interest from it.

This can greatly speed up the selling time for a home since many people do not meet the stringent requirements for mortgage loans at a bank. Also, a lot of people have a very hard time coming up with the initial down payment for their first home. If you need a quick sale you may consider seller financing as a viable option.

For informational purposes only. Always consult with a financial advisor before proceeding

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What to Know When Qualifying for a MortgageMany people wonder if buying a home is really within their reach. It often seems like a daunting purchase for the first time buyer. The good news is that with the large variety of options available today, it has never been easier to secure a mortgage.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

What Criteria Do Mortgage Lenders Use to Select Qualified Buyers?

Mortgage lenders assess a variety of criteria when considering mortgage applications. Most lenders look at the following factors when determining whether you qualify for a mortgage loan.

One of the first questions a lender will consider is how much of your total income you'll be spending on

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How to Choose Between a Bank and a Mortgage BrokerIf you're new to the world of purchasing a home and haven't taken out a mortgage before, you may be confused about the differences between a mortgage broker and a loan officer at the bank. Although they can both provide you with a mortgage, there are differences between them that you'll want to learn so that you can get end up getting the best mortgage possible that matches your personal financial situation.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Using a Mortgage Broker For Your Mortgage

This is a professional that specializes in mortgages and acts as a third-party to bring together borrowers and lenders. A broker can access a variety of lenders

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How to Save Money On Your Mortgage PayoffThere are a lot of people that are just happy making their mortgage payments every month knowing that their 25 year mortgage will be paid off some day. For others, it's a race to the finish line where getting the mortgage paid off as fast as possible is a priority. If you fall into the second category and can't wait for the day when you can finally set the mortgage papers burning, here are the 3 tips you need to know in order to make it happen.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Shop Around For The Best Mortgage Possible With Your Credit Score

When a mortgage company has a small overhead cost to stay in business it typically means that

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Is a Fixed Rate Mortgage or Variable Rate Mortgage Better?If you're like most Albertans you prefer the fixed-rate mortgage. This is according to a recent survey conducted by CIBC showing that most residents in the province would select a mortgage with a fixed-rate over a variable rate.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

What Are the Pros and Cons of Variable-Rate and Fixed-Rate Mortgages?

An adjustable-rate mortgage (ARM) has fluctuating payments based on the specific terms of the mortgage and a benchmark interest rate that is chosen by the lender. This can be beneficial for home buyers, especially for those who are expecting changes in the next few years and are not looking for long-term

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What to Know About Avoiding Mortgage DefaultThe market conditions have changed quite dramatically over the past twelve months. As a result, some homeowners may stumble upon financial hardships that make it difficult for them to pay their mortgage payments. Once your mortgage loan defaults, the chance of foreclosure increases.

If you or your spouse has lost employment and no longer make as much money, and you see meeting your mortgage payment obligations is going to be problematic, the first step is to take a deep breath. There are literally millions of people that face the same problem. You are not a bad person, so leave any feelings of guilt at the door. You do not have time for them. Instead, you need to focus on your options.

Try not to panic and instead act quickly to find

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The Best Mothers Day Brunches In CalgaryThere are special Mother's Day brunches occurring in many restaurants across Calgary on this special day that celebrates moms and everything they do for their children. Take her out for a brunch at her favorite restaurant or surprise her with a new menu to choose from at a different place. Here are just some of the brunches available in the city this year:

Chop Steakhouse & Bar in Chinook

For a special indulgence in crab and steak, take your mother out for a spectacular brunch this Sunday. Whether mom loves succulent fresh seafood, prime cut beef, or prefers traditional breakfast and lunch fare items, Chop Steakhouse & Bar in Chinook will delight her every sense. The brunch runs until 2 PM, and Mother's Day reservations are recommended.

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Saving For a Home Down PaymentAre you planning on purchasing a new home in the Calgary area soon? If so, you're probably saving up for your down payment. There are a few things that you should understand, however, about how to save for a down payment and the size of the down payment needed in order to buy a Calgary home.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

How Much Money Down Do You Need for a Home?

The most important thing that you need to know about your mortgage is that an insurance premium will need to be paid to the Canada Mortgage and Housing Corporation if you can't make a minimum 20% down payment for your home. This premium is based on the total amount of the

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Can You Afford Calgary Condo Fees?If you're planning on purchasing a new condo and have never owned your own property before, there's one important thing to remember. When you see a lovely condo being advertised on the listings and you feel that it's something you can afford, you'll first want to find out what the condo fees are. The fees will need to be paid monthly and should be added to the mortgage amount of the condo when you're trying to determine whether you can afford the monthly payments.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Condo Fees

Condo fees can vary across the board from one condo to the next. Quite often, these fees aren't listed in the advertised listing

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