Blog Entries Tagged: Mortgage
Found 8 blog entries tagged as Mortgage.

When it comes to buying a home or refinancing a mortgage, interest rates play a crucial role in determining the overall cost of your loan. Understanding how these rates affect your mortgage can help you make informed financial decisions and potentially save you a significant amount of money. Here’s a breakdown of how interest rates impact mortgages and what you should consider in today’s market.

First, you need to be aware of how interest rates affect your mortgage on a base level. The most direct impact of interest rates on your mortgage is on your monthly payments. A lower interest rate generally means lower monthly payments, which can make a mortgage more affordable. Over the life of the loan, a lower interest rate results in less total interest…

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If you're considering making a move, contact Ken Richter today at 403-630-6363! He can help you strategize how best to enter the market based on your varying needs. 

One of the biggest aspects to purchasing a home is figuring out 1). How much home you need and 2). How much home you can afford. Figuring out how much home you need is usually the easy part. You need to consider how many people will be living in the space now and in the future. You need to consider how much backyard space or parking space you'll need. You need to consider number of rooms, living areas, kitchen space, etc.. Deciding how much home you can afford is also highly personal. 

Start out by knowing what mortgage you can comfortably afford. You should meet with a lender or…

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Owning a home is no small feat. Why? Because they are a major financial investment. One of the main things to understand about owning a property is that you will likely start paying a mortgage.

So, what is a mortgage? A mortgage is the money you pay a creditor over time in exchange for them lending you all of that money upfront to pay for your property of choice. Essentially, it is a loan you take out to finance the purchase of a property. Depending on your unique situation, the creditor (typically a bank) will determine how much money they are comfortable lending you based on things like your job, credit score, assets, etc.. Finding out how much money the bank is willing to give you usually directly determines how much money you can spend on a…

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Congratulations on your new home! The closing negotiations are finished, the keys are yours, the boxes are unpacked, and your name is now proudly displayed on the mailbox. Buying a home is a major milestone in a person's life, we are so happy for you. You have worked hard to get to this moment, so make sure you celebrate. If you worked with us, thank you for being one of our valued clients! We look forward to a long-lasting professional relationship with you.

As you get more settled on your new turf, you are going to start feeling one of two ways. First, you may understand, potentially for the first time ever, the age-old adage of 'home sweet home.' You will be able to breathe easy knowing this is where you have landed, looking forward to many, many…

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One of the biggest expenses any homeowner has to deal with for an extended period of time is paying off a mortgage. In fact, it's typically one of the longest payments on any one thing that a person will make in their lifetime. 

A mortgage is money that you, a creditor, must repay a debtor within a certain amount of time. Most homeowners take out a mortgage in order to purchase a home, since most people cannot buy a home outright. This mortgage will have interest rates added to it, which are often the most difficult part to pay off as they continue to grow and grow. A mortgage is a very daunting thing for homeowners to have looming over them, but luckily it is not always fixed.

Have you ever heard of refinancing? When interest rates are low, some…

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Nowadays it is nearly impossible to purchase a home in Calgary, Alberta Canada without getting a mortgage. With homes as expensive as they are, it is extremely rare that a person is able to purchase a home upfront and avoid a 10-20 year mortgage. This is why when you are considering buying a property, it is important to set yourself up so that you qualify for a mortgage. After all, banks do not give out mortgages to just anyone.

There are a number of factors that go into qualifying for a mortgage, such as credit history. The most important one is annual income. Banks need to make sure that you will be earning enough money to pay back what you borrowed. While this factor is easy to overcome when you have had a steady job that you will continue to…

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The new mortgage rules that we have been warning you about have finally arrived. Global News writes that as of "January 1st, 2018, Canadians getting, renewing or refinancing a mortgage might have to prove that they would be able to cope with interest rates substantially higher than their contract rate." This stress test is to ensure that anyone applying for a mortgage could handle that mortgage, no matter what the interest rates jump to. 

While this may not seem like a major deal, a recent "analysis by the Bank of Canada suggested... some 10 per cent of Canadians who got an uninsured mortgage between mid-2016 and mid-2017 would not have qualified under the new standards" (Global News). Even those able to put a full 20% down or more on their future home…

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University is over for students across the globe. Some will be resting over the summer break before hitting the books again in the fall while others have graduated and get to move on to new and exciting pursuits. Either way, students everywhere are desperate for a job.

Tuition is very expensive, averaging approximately $10,000 per year for classes alone. This number does not include living expenses, textbooks or transportation. This is why during the summer months, students work hard to save enough money to pay for their upcoming school year.

Despite this, even if a person works 40+ hours a week in the four months leading up to the new school year, many still do not have enough to cover tuition. This is why students turn to student loans. The…

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