Vacation Properties and Second Homes

July 13, 2010  
Filed under Mortgage Options, Purchasing

Are you considering purchasing a quaint little lake cottage or perhaps a hunter’s cabin in the woods? Or maybe you are exploring the benefits of purchasing a house for your kids heading off to the Universities of Calgary or Edmonton? ‘Tis the season, so it’s a great time to explore the various options for mortgage financing when it comes to buying a second, non-rental property. Read more

Thinking About Co-signing a Loan?

May 25, 2010  
Filed under Housing Market

Are you considering co-signing a mortgage loan? There are many reasons to co-sign such as if the other party has insufficient credit, a lack of cash flow or if they already have too much debt. However, be aware of the risks. If the person you are co-signing for defaults on the loan, and the bank forecloses, you will be left responsible for the mortgage. Read more

What is a Mortgage? What is a Mortgage Broker?

December 19, 2008  
Filed under Mortgage Broker

What is a Mortgage?
Most people, when purchasing a home, don’t have enough cash sitting around to buy the property outright – especially when purchasing a more expensive home. That’s where a mortgage comes in. A mortgage is a loan secured against the property you are purchasing and is paid back to the mortgage lender over an established period of time known as the amortization period. Read more

Beware of the Great 1-Year Mortgage Rates!

December 1, 2008  
Filed under Housing Market

Great one year fixed term mortgage rates are abundant in the Canadian mortgage market right now. At a time when most other mortgage rates are slowly rising, it’s a bit of an odd phenomena to see one year rates dropping lower and lower. It makes us question what the lenders’ motivations are behind having these rate specials. Read more

Refinancing Your Calgary Mortgage

November 27, 2008  
Filed under Refinancing

Each person has a different reason to refinance their Calgary home. They can range from taking out extra money to finance renovations or to consolidate debt, to withdrawing equity to invest it and make your mortgage tax deductible using the Smith Manoeuvre. Whatever your reason for refinancing, it can be a great tool. Read more