Edmonton Blog

Different Ways to Get a Mortgage Loan

November 2, 2018

The most substantial financial commitment you will likely make is a real estate loan. You will probably be tied into a contract for a few decades, which is why the option you choose is so important. The type of loan that is best will vary from person to person. Here are the different sources you can get a loan from how they stack up to each other: Mortgage Brokers Your choices will depend on t...

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Tips to Get a Mortgage With No Down Payment

October 29, 2018

The difference between renting and buying a home for most people is saving for the down payment. Most monthly mortgage payments amount to similar costs as your monthly rent. Even modestly priced homes can seem unrealistic when you consider the traditional 20% down payment and various closing costs. If you are ready to take on the responsibility of owning a home but do not have enough for a down pa...

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Do Mortgage Rates vary depending on the type of house or condo

September 12, 2018

There is not one set mortgage rate that everyone gets when it comes time to buy a property. Depending on your own financial situation, the downpayment you are placing on the home, the location, and also what kind of property you are purchasing. It is relatively common knowledge that if you are buying a business or commercial property that the mortgage rate will be higher, often by around 25%-75%. ...

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4 Valuable Mortgage Tips for Fist Time Home Buyers

July 30, 2018

Buying a home for the first time is a huge financial step forward. It is an investment like none other and one that needs to be taken seriously. Housing markets across Canada are vastly different, and the Edmonton market is no exception. The Edmonton market features affordable homes, with steady growth, and lacks in nasty surprises that plague other more volatile markets. It is an excellent market...

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Is it Possible to Buy a House with No Down Payment and Bad Credit?

July 15, 2018

Life is not without hiccups. There are many reasons why someone may not have a good credit score, but regardless of someone's credit score, they will reach a time in their life where they will want to become a homeowner. Is it possible, though, for someone with bad credit to procure a mortgage and purchase a home? Or someone without a down payment? Or someone with a low credit score and without a ...

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Tips to Budget your Monthly Mortgage Payment

June 28, 2018

Mortgage payments occupy a large chunk of all homeowners’ monthly expenses. People, who plan on residing in the same house for numerous years to come, employ various methods to pay their entire mortgages earlier than anticipated. Being liberated from mortgages earlier may help you save thousands of dollars in interest, completely own the house, and significantly reduce monthly expenses. Monthly...

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Mortgage Rules

How to Get Best Mortgage Rates?

June 28, 2018

When you are purchasing a home or renewing your mortgage, whether for the first time or not, then you want to get the best rate possible. A lower mortgage rate will help save you money that you can then use to pay down your mortgage faster or save up for a rainy day. How do you get a great mortgage rate though? There are a few tips and tricks to securing a great mortgage rate, but one of the most ...

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Getting Out Of A Mortgage Is Possible

May 14, 2018

When you agree to a mortgage and sign on that dotted line, you enter into a long, legally-binding commitment. Depending on your terms, a mortgage can outlast the house/property or even its owner. With mortgage terms lasting several decades, it’s understandable that sometimes people want a way out. Here are a few ways homeowners can get out from under their mortgages. Defaulting Or Walking Away ...

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Getting A Mortgage While Self-Employed

May 14, 2018

It’s unfortunate, but self-employed Canadians have to work harder than most to secure a mortgage. Thankfully, it’s not impossible and can go very smoothly if done right. Read on to learn more. What you should know before seeking a mortgage Mortgage lenders are picky people and most of them consider self-employed people as higher risk. On the lender’s end, there’s more paperwork and a...

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First Time Home Buyer Edmonton

What Is The Home Buyers Plan?

April 2, 2018

The Home Buyers Plan (HBP) allows first-time home buyers to borrow from their RRSPs for a down payment. It allows first-time home buyers to borrow $25,000 from their RRSP tax-free. The only catch is that this $25,000 must be paid back over 15 years following the withdrawal. Don’t think of the HBP as free money; it’s more like a loan to yourself. Why Bother With The Home Buyer's Plan? You...

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