Edmonton Blog

Is a Second Mortgage is right for you?

June 27, 2019

The thought of taking out a second mortgage might sound daunting, but it doesn't have to be. You are taking on an extra monthly payment but, under the right conditions, a second mortgage could save you money. Here are some things you should know about second mortgages before you apply for one. Reasons for Taking Out a Second Mortgage Most Canadians take out second mortgages to help them consolida...

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How to Refinance a Mortgage

June 20, 2019

Many homeowners consider the option of refinancing their mortgage for several different reasons. The main goal is to gain access to a lower interest rate which can result in big savings over the course of your mortgage. If you’ve done your research and feel that refinancing your mortgage makes sense, here is a great way in which you can go about it. The most popular approach is a home equity...

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Renting vs Buying a Home

May 22, 2019

When it comes to choosing whether or not you should buy or rent a home, there are many factors that will appeal to different people. Depending on where you are in life, what the near future holds and, most importantly, your financial situation, one choice might be the clear winner. To help you decide, here are the pros and cons of buying and renting a property. Renting You have a wider sens...

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First-Time Home Buyer Edmonton

5 Secret Sources of Down Payment Money

April 26, 2019

With the rising cost of living and housing at a high, it can be difficult to save up for a substantial amount for a down payment. The sooner you start saving though, the sooner you can stop renting and finally own a home. Many hopeful buyers do not realize that they are closer to home ownership than they think. Here are some overlooked sources of money you can put towards your down payment: U...

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Second Mortgages Edmonton

Mortgage Basics: Fixed vs Variable

April 26, 2019

The way a mortgage is structured merely relates to how much you have to pay each month and over how many months. There are fixed rate mortgages, which is also referred to as adjustable rate mortgages, and variable rate mortgages or VRMs. The difference between these two types of rates is right in their names. One does not change during the mortgage term while the other can. A fixed rate mortga...

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Mortgage Advisor

Tips to negotiate your mortgage rates

April 15, 2019

Ask any home buyer and they will tell you that one thing they want is the best mortgage at an excellent price. Negotiating a deal on your mortgage may seem undoable, especially if your mortgage broker leads you to believe that you stand no chance of getting a better deal since you already have been offered the best one. Here are a few tips on how to negotiate your mortgage rate. Honesty Whe...

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How does a reverse mortgage work?

April 1, 2019

A reverse mortgage is a loan that is secured against the value of your home. It is intended exclusively for homeowners who are 55 years and older. It enables them to convert up to 55% of their home's value into tax-free cash. You can use the funds from a reverse mortgage for anything you desire; to cover monthly expenses, pay off debt, renovate your home, or travel - the choice is yours! You ...

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Second mortgages Edmonton

Things to consider for a pre-mortgage approval

March 19, 2019

As a first-time home buyer in Edmonton, getting approved for a mortgage could be one of the most stressful steps in your home buying process. This stress eases around the second time when you already know how to get your first mortgage approved. In case you weren’t already pre-approved, you will begin your process of mortgage approval after making an Offer to Purchase and after your offer has b...

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Mortgage Application Approved

Most Commonly asked RRSP Questions

March 15, 2019

Having the best mortgage advice is invaluable. Whether you are a first-time home buyer, looking for the second mortgage or refinancing an existing one, having the best mortgage broker in Edmonton is priceless. While your mortgage broker can give you a lot of information and insights, it is best to have some preliminary knowledge so that you can manage your finances efficiently. One of the things ...

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Mortgage Broker

How to get a better rate when you renew with your bank

February 15, 2019

The most significant monthly payment for most Canadians is their mortgage. And, yet, so many complacently renew their mortgage instead of finding a better deal when their term is up. You should be shopping for a better rate at least half a year before your term is up for renewal. It is the longest period lenders will guarantee a rate. That way, if rates rise, you have your guaranteed rate, and if...

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