Found 5 blog entries tagged as mortgages.

 

As a real estate agent, I understand that navigating the world of mortgages can be overwhelming for homebuyers. With various options available, it's essential to familiarize yourself with the different types of mortgages in Canada. By understanding their features and benefits, you can make an informed decision that aligns with your financial goals and circumstances.

First, let's delve into the most common mortgage type: the fixed-rate mortgage. With a fixed-rate mortgage, your interest rate remains constant throughout the term of the mortgage, providing stability and predictability in your monthly payments. This option is ideal for individuals who prefer a consistent payment amount and want to plan their budget with certainty.

For instance, if…

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ATB Economics | March 10, 2021

Policy Interest Rate Stays Put: Bank of Canada

   

The Bank of Canada announced* this morning it is keeping its trendsetting policy interest at 0.25 per cent.

The Bank also announced its quantitative easing program will continue at its current pace of at least $4 billion per week.

Despite signs of economic recovery, the Bank’s “Governing Council judges that the recovery continues to require extraordinary monetary policy support.”

Today’s announcement maintains the stance taken by the Bank in…

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 6 Key Reasons Why You NEED a Mortgage Pre-Approval Featured Image

Getting pre-approved for a mortgage is one of the first and most important steps in the home buying process. If you’ve been thinking about purchasing a new Edmonton home, here are six key reasons why you NEED a pre-approval before you begin your new home buying journey. 

1. It’s Better Than a Pre-Qualification

While a mortgage pre-qualification is undoubtedly beneficial, it doesn’t carry the same clout as a mortgage pre-approval. Simply put, a pre-approval is a lender's commitment to loan you a certain amount for a mortgage based on your current financial situation. 

However, during the pre-qualification process, a lender only takes a high-level view of your finances and provides a guestimate as to what they think they could lend you for a…

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The Calgary real estate market has something to offer everyone-but too many choices can feel overwhelming. This is especially true for first-time homebuyers who are often torn between the idea of looking for a spacious house, or a chic condo. Of course, there's no right answer for everyone. The best choice for you depends on your lifestyle, personality, and individual needs. Below are some pros & cons to help you decide which type of property is your best fit. 

Single Family Homes

A house is a great investment if you want total control over your home's appearance and you value space. With a house, you have more freedom in choosing the look and feel of your entire living environment. There's nothing to stop you from customizing all of the indoor…

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Potential homebuyers are always cautioned to be aware of mortgage lending standards and the difficulty they might face when trying to obtain a mortgage. Credit availability is expanding, making it easier to get a mortgage now than it was a year ago. The market is still tight however, and homebuyers should be prepared to shop around until they find a lender who is offering something that will meet the needs of their family.

 

Mortgage lending companies have high standards so it is important to make sure you and anyone else who will be included on the mortgage have their credit in check. The mortgage market is strict because lenders do not want to be put in a situation where they are forced to repurchase loans that are not paid on. They also do not…

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