Mortgage Pre-Approval

Getting a mortgage pre-approval is the first step towards homeownership.

While mortgage pre-approval calculators and online pre-approvals have their place, they don’t give you any guarantee that you can get approved when it comes time. The typical bank “pre-approval” only guarantees that if you, and the property, are approved, you won’t pay higher than a given rate – I call this a rate hold.

Don’t get me wrong, getting a rate hold is an important first step because it gives you an idea of what purchase price you can afford, and it protects you against rate increases, for up to 120 days. But you want a more accurate idea of what you can be approved for. Also, many Realtors will not start shopping until you have a pre-approval letter to ensure you are looking in the right price range given your unique situation.

Save yourself time and disappointment by getting pre-approved before you shop! Talking to me, a licensed Mortgage Broker, and getting pre-approved is the first key to homeownership!

Buying your first home

Going it alone can be a little scary.

The best rate doesn’t necessarily come with the best terms and can end up costing you thousands more in the long run. My job is to ensure you know all the differences among the lender options.

From budget, through approval, possession and—eventually—being mortgage free, I’m here to make your life easier. I’m in your corner every step of the way!

Moving up

Are you looking to sell your home and move into something bigger? Unsure of how to do this and be able to use the equity in your existing property as the down payment on the new home?

I can talk you through timing, the ins and outs of bridge financing and whether it’s best to sell your current home first, or find your new home first.

If you’re hoping to keep your current home as a rental property and reap the rewards of having someone else pay down your mortgage, I can talk you through these details as well.

Interest paid on an investment property is tax deductible so having a higher mortgage on your rental property, has its financial advantages. This is just one of the tidbits we can review with you if you’re thinking of renting your current home.

Mortgage Renewal

When your it’s time for your mortgage renewal, are you depending on your current lender to give you the best rate/product going?

Have you considered that your life has changed and maybe this product and/or lender is no longer the best solution for you?

All reasons why you should contact me! Signing on the dotted line could cost you thousands of dollars in interest.

Isn’t it worth a second opinion?

Refinancing

If you’ve built some equity in your home, refinancing is becoming an often-used method of achieving long and short-term financial and life goals.

Mortgage rates are lower than carrying credit card, line of credit debt, or personal loan debt. For this reason, debt consolidation is an excellent option if you’re finding it difficult to make a dent in those credit card balances. By decreasing the average interest rate you’re paying, thereby increasing cash flow, you can pay debts faster.

Thinking of a renovation? You can include the cost of renovations in your mortgage, instead of using credit cards and lines of credit, that will cost you more in the long run.

Kids heading off to University soon? You can use the equity to send your kids to school, invest in your own retirement or for the down payment on another property.

Perhaps you’ve changed careers resulting in a lower income. Refinancing can lighten your monthly load by lengthening the duration of your loan to reduce monthly payments and ease the financial stress.

I can take a look at your unique situation and assess whether refinancing is right for you or if there is a better strategy to employ. Remember, mortgage rates are the cheapest interest rate you’re going to get on the market – don’t carry higher interest debt if you don’t have to!

Construction Loans

Calgary has a lot of custom-built homes, and if you’re about to undertake a construction project I will find you the very best rates and terms for your endeavor. Construction loans are very common but certainly not your standard mortgage.

Give me a call to find out how you can draw­­ on the future value of your property to pay for the construction of a new home on the existing property.