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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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 |
Our qualified and professional mortgage consultants offer personalized service to all of our clients. They are extremely knowledgeable and will offer:
The advice and counseling needed to sort out credit and assess mortgage qualifications.
An assumable mortgage is one in which a qualified buyer can take over the mortgage from the current owner on the property being purchased. Assuming a mortgage requires a simple amendment to the mortgage document registered on title. This type of mortgage can offer the qualified buyer with a better than market interest rate in some cases and also cut legal costs associated with obtaining a brand new mortgage.
First time home buyers are generally required to have mortgage insurance if their down payment is less than 25% of the purchase price for the property. The home buyer can either get private or public mortgage insurance through the Canada Housing and Mortgage Corporation known as CMHC or through GE Capital.
If your credit history is less than perfect, you should definitely take a few small steps to improve your credit standing before applying for a mortgage.
The following steps will help you get one step closer to cleaner credit and even closer to owning that new home:
After you have decided that home ownership is right for you, it is important to fully understand which type of home will best suit your needs.
Not all individuals or families belong in a three bedroom, split-level house in the suburbs. Some might prefer condo or town home living for added convenience, so it is important to assess your needs fully before deciding on the type of property to purchase.
Each type of housing will have pros and cons, so weigh them all carefully and make an informed decision. If you are finding the choices overwhelming, our professional mortgage brokers at Alberta Equity Mortgages can offer advice about the different kinds of housing available and steer you in the right direction.