Many Albertans apply for a mortgage with just one lender, often their bank, without shopping around without realizing that competition always results in the best deal.
We will survey the market and search dozens of mortgage lenders to find the best rates in Canada. This FREE unbiased service ensures that you will receive low mortgage rates and huge savings over the term of your mortgage:
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3 years | 5.44 | 3.89 | $11,267.80 |
5 years | 4.99 | 4.99 | $0.00 |
7 years | 6.09 | 5.80 | $4,868.42 |
First-time home buyers have many decisions to make after deciding to purchase a new home. These decisions can be overwhelming and even frustrating if they do not have all the facts.
A common question for many first-time home buyers is whether or not to build brand new or to purchase a re-sale. Let our professional mortgage brokers at Alberta Equity Mortgages ease your frustration by offering solid advice while providing both the pros and cons of building brand new or purchasing re-sale.
After you have decided that home ownership is right for you, it is important to fully understand which type of home will best suit your needs.
Not all individuals or families belong in a three bedroom, split-level house in the suburbs. Some might prefer condo or town home living for added convenience, so it is important to assess your needs fully before deciding on the type of property to purchase.
Each type of housing will have pros and cons, so weigh them all carefully and make an informed decision. If you are finding the choices overwhelming, our professional mortgage brokers at Alberta Equity Mortgages can offer advice about the different kinds of housing available and steer you in the right direction.
You may have a debt problem if:
Coming up with enough money for a down payment can be difficult for many potential home buyers, so they often settle for simply putting the minimum 5% down.
However, it is better to put down as much as possible towards the purchase price because the more you put down, the less money you have to borrow and as a result your mortgage payments are lower and easier to manage financially.
If you are able to put down 20% of the purchase price, then you are not required to purchase mortgage insurance thus saving yourself more money over the life of your mortgage.