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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 2.44 3.80 $9,829.34
5 years 2.54 4.84 $27,328.75
7 years 3.39 5.30 $31,489.66
 
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.

Did your Bank Refuse to give you a Mortgage?

Don't be embarrassed if your current bank has turned you down for a mortgage because it happens more often than you think. At Alberta Equity Mortgages, we know it can be frustrating for clients when the bank they have been dealing with for many years, denies them a mortgage.

So, why not let our professional brokers go to work for you? We have access to numerous national lenders who are willing and eager to lend money in situations where the bank is not. Do not let your bank stand in your way and deny you the home of your dreams, simply apply online today!

Can I Clean-up my Credit?

If your credit history is less than perfect, you should definitely take a few small steps to improve your credit standing before applying for a mortgage.

The following steps will help you get one step closer to cleaner credit and even closer to owning that new home:

  • Pay off high-interest debt before you focus on saving a down payment because there are mortgage options that allow you to buy with little or no money down.
  • Pay off credit cards and get rid of any unnecessary ones to avoid over spending and unwanted debt. Try to pay with cash and do not apply for anymore credit accounts.
  • Try to pay down installment loans such as vehicle payments.
  • Hire a credit counselor or seek advice on managing your debt.
  • Wait at least six months before applying for a mortgage if you have made a late payment in the past.
  • File a short explanation letter with your lender if your credit suffers from one specific event.

Having Difficulty Managing your Monthly Bills?

Managing your Monthly Bills

For many Canadians, it is easy to let the monthly bills get out of control and it becomes difficult to make ends meet. Making multiple payments to credit cards and other credit lenders can be overwhelming. Our mortgage brokers at Alberta Equity are qualified professionals who are trained to find the perfect solution for your unique situation, so why not make things much simpler with one easy payment? Here are some options to consider:

  • Refinance your existing mortgage and use the equity in your home to pay off high interest credit cards
  • Obtain a short time second mortgage for a if you are unable to refinance your existing mortgage