Competition = Low Mortgage Rates

Things to Consider When Building a Brand New Home

If you decide to build a brand new home instead of purchasing a re-sale, it is extremely important to carefully assess the following pros and cons before purchasing:

• You are the first occupant meaning no one else has lived in the home
• You get to decorate as you wish by selecting your colors, design features, and other various upgrades
• You are protected from construction deficiencies by Provincial Law

• The area is not established and is often still under construction causing excess traffic, noise, dust, etc.
• Landscaping, driveway paving, and other finishing touches might take extended periods of time to have completed due to other construction in the area
• The timely completion and occupancy of your new home can be delayed for any number of builder related reasons
• There are some closing costs that apply to new homes

Alberta Equity 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.

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.

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.