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Competition = Low Mortgage Rates

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:

Term
Our Rate
Bank Rate
Savings
 
3 years 1.54 3.89 $16,944.66
5 years 1.84 4.99 $37,308.50
7 years 2.64 5.80 $51,970.54
 
Above calculation based on a $250,000.00 mortgage loan over a 25-year amortization period using a monthly payment schedule (mortgage loan for an average Calgary inner-city two-story home).
* Mortgages and rates subject to change without notice.

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This Week's Topic And Mortgage News and Events

 
Obtaining a mortgage is one of the most important decisions you may ever make, and with so many choices and ongoing decisions; the right advice can have a huge financial impact. Recognizing Debt Problem

Recognizing the Danger Signs

You may have a debt problem if:


  • you are feeling stress and anxiety over money situations and finding it difficult to sleep at nights.
  • your monthly bank statements are in the negative.
  • you're only able to pay the interest and service charges on your credit cards.
  • you are afraid to open your mail or answer unknown phone numbers.
  • your services have been cut off such as hydro or telephone.
  • you're always borrowing money from family and friends and then find yourself avoiding them because you cannot afford to re-pay them.
  • creditors are pressuring you and threatening to sue.
  • you have received notification in the mail from a collection agency.
  • your wages have been garnisheed.

Why deal with a Mortgage Broker?

Mortgage Broker represent you, the customer, not the lender. Because they are not employees of a lending institution, Brokers are not limited in the product they can offer you. Brokers seek out the best lender package to suit your specific situation, whether it's with a Chartered Bank, Trust or Insurance Company, or Private Funds.

There is a wide assortment of options and features available to homebuyers today. Shopping around takes a lot of time and effort. The mortgage process within today's very competitive marketplace intimidates many Canadian homebuyers. It pays to work with a mortgage professional who will represent you and ensure the mortgage you get is the one best suited to your needs.

Choosing the wrong mortgage can cost you thousands of extra dollars. Mortgage Brokers are trained professionals who can help you save on your mortgage dollar.

Canadian Mortgage Info Online

CanEquity.com has recently launched its Canadian Mortgage Statistics website providing a unique source for mortgage brokers and mortgage seekers to learn about Internet mortgage trends.

These statistics were compiled using over 20,000 surveys, plus data collected over a span of five years.

Over one thousand pages of cities and towns have been developed with data ranging from average loans to peak hours for mortgage inquires through a 24-hour day.

Some of the highlights you will find are:

  • Average ages, martial and residential status for Internet mortgage inquires.
  • Interactive flash interface allowing you to plot national and provincial mortgage originations, average incomes, and loan amounts.
  • Data displaying year-to-year, month-to-month and day-to-day Internet volume comparisons with complete charts and graphs.
  • Tables displaying provincial and national mortgage volume rankings of cities and towns throughout Canada.

These statistics are anonymous and contain no personal information, and cannot be used to gather such information; therefore this information may be used freely for educational or non-commercial use.

Things to Consider When Purchasing a Re-Sale

If you decide not to build brand new and have opted for purchasing a re-sale, it is extremely important to carefully assess the following pros and cons before purchasing:

Pros
  • You usually get a lower price due to wear and tear
  • You get the benefit of upgrades (finished basement, pool, etc.) at a depreciated price
  • Your neighborhood is generally established and amenities are in place
Cons
  • Others have lived in the home
  • There is no warranty for repairs required by law (unless it is a condition of purchase)
  • The décor might require changes and can be costly or time consuming