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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 4.64 3.89 $5,446.26
5 years 4.54 4.99 $5,398.47
7 years 5.4 5.80 $6,693.52
 
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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  • 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.

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.

Professionals Helping your Homebuying Decision

For example, you can enlist the services of the following professionals to help you when purchasing your new home:

  • Realtor
  • Lawyer
  • Mortgage Broker / Mortgage Lender
  • Home/Property Appraiser
  • Home Inspector
  • Builder's Representative (if building a new home)

What is a BEACON Mortgage Score?

The BEACON® Mortgage Score is a brand of FICO credit score rating issued by Equifax, the largest credit-reporting agency in Canada, designed specifically to help mortgage lenders make the best possible risk decisions when addressing both current homeowners and those aspiring to own. The score identifies up to 25 percent more of the high-risk mortgages and home equity lines-of-credit that later became seriously delinquent then that of the general risk BEACON score.

BEACON Scores are the first thing mortgage brokers look at when determining what mortgage rates and products are available to the consumer. These credit scores can range from 300 (worst) to 850 (best). The average Canadian adult over 30 has a beacon score of around 680. Banks lend based on this score. The better the score the better the term and rate you will receive. A mortgage agent can assist you in determining where you fit with the lenders as well as guide you in improving your beacon score.

Beacon Score

What is a Mortgage Broker?

Mortgage Broker Question

Simply stated, a mortgage broker is an agent for lenders in much the same way an insurance broker is an agent for insurance companies.

Mortgage brokers act as agents for banks, trust companies, credit unions, mortgage corporations, investment corporations, finance companies and individual private investors.

Mortgage brokers are trained professionals that have to meet a satisfactory educational requirement before they may become registered. As such, this requirement ensures you are being provided with a duty of care, a working knowledge of mortgage products and a standard of service to meet individual needs.