1 2 3 4 5
 
 
 
 
 
Our Products Tools & Resources Most Popular Inquiries For Webmasters
Picture of a mortgage broker Find Out Why Now!

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 4.14 3.89 $1,813.95
5 years 4.19 4.99 $9,584.37
7 years 5.19 5.80 $10,196.74
 
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.

Calculator

Mortgage Calculator

A mortgage calculator is a quick and easy way to calculate your mortgage payments.
Learn exactly how much you can afford to spend before you buy.

Start calculating now
Mortgage Application

Mortgage Application

Why wait? Apply online today with our free mortgage application.
See how safe & simple applying online is by using the Alberta Equity secure mortgage form.

Start applying mortgage now

News & Events

Canadian Mortgage News

Current Mortgage News
Subscribe to our RSS feed




  • Posted on Wednesday December 31, 1969

  • Posted on Wednesday December 31, 1969

  • Posted on Wednesday December 31, 1969

  • Posted on Wednesday December 31, 1969

  • Posted on Wednesday December 31, 1969

  • Posted on Wednesday December 31, 1969

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. CanEquity Mortgage is an active member of the Better Business Bureau and has helped tens of thousands of Canadian's with their mortgages.

Before Looking to Purchase Get Pre-Approved!

Get Pre-Approved Before Purchasing

It is always a good idea to get pre-approved (or pre-qualified) for a mortgage before you decide to look at a new home.

A pre-approval will not only let you know if and for how much you are approved for, but also gives you better negotiating power and will to keep you within your budget.

Knowing that you are a serious buyer because you have already made that first important step, many home sellers will consider reducing a listed price to match your approved budget.

And by knowing how much your monthly payments are, you can then easily factor in additional cost like property taxes, utilities and insurance.

Another major advantage to pre-qualification is the rate hold. A rate hold means that you can secure an interest rate at today's current rates and keep these rates for up to 120 days or a full year on new construction. Even if interest rates drop during that time, you will still automatically qualify at the new lower rates. And, if the rates should ever go up, you would then get the secured rate.

What is a Home Inspection Report and do I need one?

A Home Inspection Report can be used by a qualified buyer or a property owner to verify the condition of the property prior to being bought or sold. Those conducting home inspection reports are not required to be licensed and they are not regulated by a governing body other than the general consumer protection legislation.

Qualified home buyers are not required to have a home inspection done, but it is recommended to ensure the property is a sound investment. In order to get an accurate report, ask for the resume of the inspector and check references if possible. The report should contain details specific to issues or problems with the property and include the cost to repair these items.

To learn more about Hiring a Home Inspector search our website or call one of our Alberta agents for a list of inspectors. We will assist you and answer any questions you may have.

Tips on Saving for a Down Payment

If saving for a down payment seems impossible, think again. The following tips will help you achieve this realistic goal:

  • Set a goal by determining what you can afford to spend on a home
  • Calculate how much you need to save (generally 5% of the purchase price, although more is better)
  • Remember to include closing costs and other expenses related to the purchase into how much you need to save
  • Be realistic and pace your savings according to your desired purchase date (e.g. If you want to purchase your home within a year, take the calculated down payment amount, add the amount for closing costs and other expenses, then divide by the number of months until the purchase date).

Money Saving Tips

When Applying for your Mortgage

When applying for your mortgage it is beneficial to have the following information readily available:

  • A current salary statement or letter from your employer
  • A confirmation such as a letter or bank statement showing the source of your down payment
  • Financial statements for the last three years and personal income tax returns if you are self employed
  • A copy of the accepted purchase offer
  • Details on the property being purchased such a land survey or an MLS print out
  • Building plans, specifications, and the builder agreement if you are buying a home that is to be constructed