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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 2.59 3.75 $8,386.16
5 years 2.94 4.94 $23,823.16
7 years 3.99 5.75 $29,211.05
 
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

 
If high interest rate credit cards and loan debt are keeping you from getting ahead, as a home owner you can refinance your existing mortgage and use the equity in your home to pay off that debt. With the low mortgage rates and rising property values it is a great time to consolidate your debt and even decrease your monthly payments.

Closing Costs Associated with Purchasing a New Home

Be prepared to pay some closing costs when purchasing a new home. These costs are not part of the property purchase, but additional items that you should consider. However, it is important to remember that these items may not be applicable in all cases, so check with your lawyer for a complete list of all closing costs specific to your situation. Possible closings costs can include:

  • Legal fees
  • Property Transfer Tax
  • Interest Adjustment
  • Property Tax Adjustment
  • Property Appraisal
  • Property Inspection
  • Survey Certificate
  • Insurance Binder

Note: Some of these costs may be included in your legal fees as your lawyer will arrange for the service to be completed.

Alberta Equity Mortgage Consultants

Mortgage Consultants

Our qualified and professional mortgage consultants offer personalized service to all of our clients. They are extremely knowledgeable and will offer:




  • The most competitive rates while dealing with all the major lending institutions
  • The maximum amount of flexibility in financing choices
  • The widest choice of mortgage options including variable rate mortgages, fixed rate mortgages, capped variable rates, rental properties, mortgages for the self-employed, etc.

The advice and counseling needed to sort out credit and assess mortgage qualifications.

Alberta Equity's Specialties Include:

  • Pre-Approvals / Qualifications
  • Interest Rate Guarantees
  • Home Purchases including Private Sales
  • Conventional or High Ratio Mortgages
  • Variable Rate Mortgages
  • First Time Homebuyers
  • Mortgages for Self-Employed Applicants
  • New Home Construction
  • Mortgage Renewals and Transfers
  • Refinances
    • Debt Consolidations
    • Increase or Top Up Investments
    • Home Renovation
  • Rental Properties
  • Second Mortgages
  • Commercial Mortgages
  • Interim / Bridge Financing on Confirmed Sell / Purchases
  • Free Mortgage Consultations / Mortgage Planning

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

Interest Rate Guarantees

Many lending institutions will guarantee you an interest rate as soon as they receive your application. The guarantee means that if mortgage rates go up, you will get the old, lower rate. If you are buying a house, or switching your mortgage (also called transferring), the guarantee can last from 60 to 120 days (2 to 4 months).