26
NOV
2013

Calgary Mortgages: What Do I Need to Buy for My New Home?

6. Will I need to purchase several items in order to be able to take care of my new property? When you purchase a home, always factor in the costs for maintenance. Many people forget when they move in to their first starter home that there will be a need to buy equipment and...
19
NOV
2013

Calgary Mortgages: What is Life and Disability Insurance?

5. What is Life and Disability Insurance? If your job or health plan does not include a life insurance policy, or if you are not sure your current policy provides adequate coverage, Creditor Life and Disability Insurance is an absolute must to talk about with your broker or...
12
NOV
2013

Calgary Mortgages: Do I need Home Insurance to Complete My Mortgage?

4. Do I need home insurance to complete my real estate deal? In order to finalize a mortgage, home buyers must present proof of homeowners’ insurance. This type of insurance is required because lenders need to protect their interests in case a fire, natural disaster,...
08
NOV
2013

Makes Plans to Buy Next Year! Calgary’s Mortgages By Candice

Three of Canada’s leading banks have released reports based on September’s home sales and price data, and they have all indicate the housing market will likely slow next year. What does this mean for buyers who are still thinking about buying? It’s actually good news. The reduced...
05
NOV
2013

Calgary Mortgages: How Much Can I Expect to Pay in Utilities?

3. How much can I expect to pay in utilities? Estimate your utility bills and ensure they will be affordable. If you are already working on a tight budget, you don’t want the cost of utilities to make your new home unaffordable. Take into consideration the age of the home before...
29
OCT
2013

Calgary Mortgages: How Much Are My Property Taxes?

2. How much are my property taxes? As a homeowner, property taxes will be a yearly cost for you from now on, and in certain areas of Calgary – due to the value of the houses – they can be hefty. Municipal property tax rates vary from one municipality to the next, and they...
22
OCT
2013

How Do I Get Pre-Approved for My Calgary Mortgage?

1. Have I been pre-approved or pre-qualified for a mortgage? Understanding the difference between mortgage pre-qualification and mortgage pre-approval is essential. A mortgage pre-qualification is when you provide a lender or broker with financial information such as assets,...
15
OCT
2013

How Much Should you Budget for Calgary Mortgage Closing Costs?

5. Forget To Budget For Closing Costs Don’t forget to speak with your with your mortgage broker or banker about closing costs. Figure out how you will be able to cover the expenses ahead of time – don’t be caught off guard! The exact list of closing costs will vary from contract...
08
OCT
2013

Don’t Spend Your Calgary Mortgage Down Payment!

4. Spending Their Down Payment It seems silly, but this is a predicament in which many homebuyers find themselves. In Canada, homebuyers are required to provide a minimum of a 20 per cent down payment for an uninsured mortgage, and a minimum of a five per cent needed for an...
01
OCT
2013

What Not to Do Before You Take Possession of Your Calgary Mortgage

3. Taking Out Another Loan or Making a Large Purchase Somewhat similar to point number one, taking out another loan (for example, to purchase a vehicle) while in the pre-approval process can raise red flags for your lender when they check your credit at closing time. By making...
12