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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:

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Please call CanEquity Support at 1-866-530-5541 to report this error. 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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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.

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

Don't Forget About Home Insurance

Protect Your Investment With Home Insurance

There are so many details and steps in the process when buying a new home, but do not forget about protecting your investment once the deal is done. When you go to meet with your insurance broker, take the following information with you to ensure that you get the proper insurance for your new home:

  • Property appraisal
  • House plans and other property details
  • Past insurance history
  • Personal information (such as identification, age, occupation, etc.)

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