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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 3.65 $8,742.18
5 years 2.54 4.64 $24,929.84
7 years 3.24 5.30 $33,925.93
 
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.

Why do it Alone?

Investing in a new home is a big decision, so as a first-time home buyer, why do it alone?

Let our professionals guide you through the home buying process. We can advise you on all the legalities, the home inspection and the property appraisal. We will also work to find you the best interest rate and mortgage option that suits your financial situation.

Buying your first home can be overwhelming because of the wide variety of property available. It is important to get pre-approved for a mortgage because this will help you narrow your property search.

Our professionals will help get you pre-approved and be able to tell you exactly what you can afford, what your interest rate will be, and the amount of your monthly repayment.

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.

Buying Your First Home

Buying Your First Home

One of the most important investments for anyone is the purchase of a home.

There are many important questions that must be answered when it comes to buying your first home. Many new buyers do not understand the home buying process and may become anxious when it comes to making an offer on a property. Alberta Equity is well versed in the first home purchase process, providing information for approvals and walking through the process of completing your first home purchase. Learn More

Lender vs. Broker...

Many people have asked us what the difference is between a mortgage broker and a mortgage lender. A mortgage broker is a trained professional that has access to loan products of different lenders and is licensed to provide you with the best advice for your mortgage needs. Mortgage brokers do not lend money. Most brokerages are small firms providing expertise services and counseling rather than loans. The lender is the one who provides the money to the borrower at the closing table. The lender also makes the final decision regarding loan approval.

So why can't you skip the middle man and go straight to the lender? Many lenders will not deal with the public for a number of reasons. For one, the cost in promoting would be too great. For example, there are many mortgage lenders based in Calgary, Alberta alone. Bridgewater, MRS Trust, Gibraltar Mortgage just to name a few. But how many of those have you actually heard of? Another reason is administration. There is a lot of paperwork involved when you close a mortgage agreement, and it just makes sense dividing up the work amongst the brokers.

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.

Why get Pre-Qualified?

It is a good idea to get pre-qualified when you decide to purchase a new home because being pre-qualified will help you to:

  • Save time by only looking at homes within your price range
  • Save money by locking you into an interest rate for up to 120 days. By locking your interest rate you are protecting yourself from rate increases that can occur after you write up an offer, but before you close on the purchase.
  • Deal with the seller more effectively because they know you are a qualified buyer. The seller is often more willing to negotiate or accept a lower purchase offer if he or she knows you are pre-qualified and able to purchase.