Today's Topic:
Purchasing a Home
Choosing the Right Type of Home
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.
Who should be Involved When Purchasing a Home?
Buying a home is not simply a transaction between the buyer and the seller. While the process can be some what complex, there are a number of professionals that can help make the purchase of your new home go as smoothly as possible. For example, you can enlist the services of the following professionals to help you when purchasing your new home:
- Realtor
- Lawyer
- Mortgage Lender / Mortgage Broker
- Home/Property Appraiser
- Home Inspector
- Builder's Representative (if building a new home)
Taking the Stress out of Home Hunting
Purchasing a new home can be a major decision for many and it can also be extremely stressful. Don't let stress ruin this exciting time. By pre-qualifying and taking all of your mortgage needs into consideration prior to house hunting, you can then focus on the small details when you are ready to start looking. The perfect home within your price range is waiting for you, but if you need more help taking the guess work out of mortgage shopping and home buying, our brokers at Alberta Equity Mortgages will work for you.
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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.
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Product Popularity
Below is a tally of our most popular mortgage inquiries made using our online pre-approval application for Mortgages in Alberta.
| Mortgage Type | | Inquiries | | First-time Buyer | | 30.18% | | Qualification | | 21.62% | | No Money Down | | 14.86% | | Refinance | | 11.71% | | Renewal | | 6.53% | | Purchase | | 4.73% | | Pre-approval | | 3.15% | | Variable Rate | | 2.03% | | Low Doc | | 1.35% | | Other | | 3.84% | | Last Tally: Jun 11 at 10:55:14 |
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Current News
Canada's economy shifts into recovery mode: RBC Economics
Increased domestic spending and improved credit markets expected to fuel economic growth in 2010 and 2011 TORONTO, Ontario, March 11, 2010 — With a peak in stimulus investment, improved credit markets and a recovery in consumer spending, Canada’s economy is poised for real GDP growth of 3.1 per cent, according to a new report by RBC Economics. “An economic recovery is …
Home purchase intentions full steam ahead: RBC poll
TORONTO, Ontario, March 08, 2010 — Homebuying momentum in Canada continues to gain steam with the portion of Canadians who are very likely to purchase a home in the next two years rising to 10 per cent from seven per cent two years ago, according to the 17th Annual RBC Homeownership Study. Younger Canadians, aged 18 to 24, will lead the charge this year, with those very likely to buy …
February Housing Starts
OTTAWA, Ontario, March 08, 2010 — The seasonally adjusted annual rate 1 of housing starts reached 196,700 units in February 2010. This is an increase from an annual rate of 185,400 units in January 2010, according to Canada Mortgage and Housing Corporation (CMHC). “The gain in February housing starts was concentrated in the multiple starts segment, particularly in Toronto,” …
Housing Activity Stronger in 2010
OTTAWA, Ontario, March 02, 2010 — Housing starts rebounded in the second half of 2009 and will strengthen in 2010, according to Canada Mortgage and Housing Corporation’s first quarter Housing Market Outlook, Canada Edition*. Following a total of 149,081 units in 2009, housing starts are expected to be in the range of 152,000 to 189,300 units in 2010, with a point forecast of …
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