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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 3.94 3.89 $362.67
5 years 4.19 4.99 $9,584.37
7 years 5.1 5.80 $11,695.76
 
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.

Stop! Don't Renew Your Mortgage...

Have you received your mortgage renewal in the mail? Don't just sign the form and send it back to the lender.

Over 70% of mortgage holders in Calgary and Edmonton do just that, and what is the usual result — a higher mortgage rate and a product that might not be best suited to their needs.

Make sure you are getting the best mortgage renewal rate in Alberta. Learn More

Low Interest Mortgage Renewals

Calculating FICO Credit Scores

It is not just about making payments consistently and on time, there is a little bit more to the calculation of your credit score or beacon score as referred to in the mortgage industry. The payment history you have established only accounts for about one third of your actual beacon score. The pie chart below shows the actual breakdown of the beacon score.

How FICO Scores are calculated

Balances owing are a huge factor in the overall credit report. And, the longer you have had a good credit history will increase your score. But watch out, credit card accounts where the balances are at or above the credit limit will dramatically hurt your Beacon score.