Calgary Mortgages And Rates For The New Buyer
Pre-qualification through the mortgage per-approval process is the first step toward owning your own home. Then, its time to find a lender and thats where a broker like Candice Light comes in.
Although the real estate market is competitive, Calgary mortgage rates remain low, and at Mortgages by Candice with The Mortgage Group, well ensure your customized mortgage works for you. A mortgage broker finds you more options for financing the home of your dreams offers more options and finds better Calgary mortgage rates for the new buyer.
How Can I Pr-Qualify?
Simply provide your financial information including income, assets and debt to the lender or broker, and youll receive an estimate of the amount of mortgage for which you may qualify. Put simply, you have nothing to lose!
What is Mortgage Pr-Approval?
Pr-approval is a tentative agreement from a lender. It outlines the mortgage terms and costs, and to show you homes in your price range, realtors typically require per-approval before looking for your new home.
Who Can Apply?
Any resident of Canada of legal age with an open bank account can apply for mortgage per-approval and the first step is to fill-out a primary Mortgage Assessment form.
What Are Rate Hold Agreements?
For up to 120 days, a Rate Hold allows a lender to hold a fixed rate or the spread on a variable rate. Working with a broker, youll have the benefit of accessing several Rate Hold Agreements on various Calgary mortgage rates and terms at the same time. Youll receive the rate and terms you were quoted if your down payment is received within an agreed period.
Is a Mortgage Affordable?
Your expenses (including the amount you expect to pay for your mortgage) should not exceed 35% of your gross income. First, total your monthly expenses and monthly income. Then, divide your monthly expenses by income and multiply by 100.
What Financial Information do I Need to Provide?
When applying for a mortgage, youll need the following information for each borrower:
Social Insurance Number
Proof of income (pay stubs or bank statements)
Current employer (prior employer if youve been with your current employer for under three years)
Current address (If youve spent fewer than three years at your current address, a previous address is required)
The value of all assets such as your vehicles, RRSPs and savings (not including your home)
Estimated value of your home
Recent mortgage, credit card and loan statements (including lines of credit, car loans, and student loans)
All current housing costs (including utilities and property taxes)
What Mortgage Information Will I Need To Provide?
You will need to provide the following information for the mortgage you are interested in:
The value of the home you wish to buy
Type and address of the property
The amount of the down payment you are prepared to pay
Amount of the mortgage for which you apply
Whether the mortgage is for renewal, refinance or purchasing a new home
Estimated yearly property taxes
An annual estimate of utilities
Yearly condominium fees, if applicable
Pre-approval is the first step toward buying a new home or making changes to an existing mortgage. Saving you valuable time to spend looking for your new home, working with a broker like Candice Light allows you to see side-by-side offers with the best Calgary mortgage rates, for comparison.
Then simply choose the right mortgage for you!
Although the real estate market is competitive, Calgary mortgage rates remain low, and at Mortgages by Candice with The Mortgage Group, well ensure your customized mortgage works for you. A mortgage broker finds you more options for financing the home of your dreams offers more options and finds better Calgary mortgage rates for the new buyer.
How Can I Pr-Qualify?
Simply provide your financial information including income, assets and debt to the lender or broker, and youll receive an estimate of the amount of mortgage for which you may qualify. Put simply, you have nothing to lose!
What is Mortgage Pr-Approval?
Pr-approval is a tentative agreement from a lender. It outlines the mortgage terms and costs, and to show you homes in your price range, realtors typically require per-approval before looking for your new home.
Who Can Apply?
Any resident of Canada of legal age with an open bank account can apply for mortgage per-approval and the first step is to fill-out a primary Mortgage Assessment form.
What Are Rate Hold Agreements?
For up to 120 days, a Rate Hold allows a lender to hold a fixed rate or the spread on a variable rate. Working with a broker, youll have the benefit of accessing several Rate Hold Agreements on various Calgary mortgage rates and terms at the same time. Youll receive the rate and terms you were quoted if your down payment is received within an agreed period.
Is a Mortgage Affordable?
Your expenses (including the amount you expect to pay for your mortgage) should not exceed 35% of your gross income. First, total your monthly expenses and monthly income. Then, divide your monthly expenses by income and multiply by 100.
What Financial Information do I Need to Provide?
When applying for a mortgage, youll need the following information for each borrower:
Social Insurance Number
Proof of income (pay stubs or bank statements)
Current employer (prior employer if youve been with your current employer for under three years)
Current address (If youve spent fewer than three years at your current address, a previous address is required)
The value of all assets such as your vehicles, RRSPs and savings (not including your home)
Estimated value of your home
Recent mortgage, credit card and loan statements (including lines of credit, car loans, and student loans)
All current housing costs (including utilities and property taxes)
What Mortgage Information Will I Need To Provide?
You will need to provide the following information for the mortgage you are interested in:
The value of the home you wish to buy
Type and address of the property
The amount of the down payment you are prepared to pay
Amount of the mortgage for which you apply
Whether the mortgage is for renewal, refinance or purchasing a new home
Estimated yearly property taxes
An annual estimate of utilities
Yearly condominium fees, if applicable
Pre-approval is the first step toward buying a new home or making changes to an existing mortgage. Saving you valuable time to spend looking for your new home, working with a broker like Candice Light allows you to see side-by-side offers with the best Calgary mortgage rates, for comparison.
Then simply choose the right mortgage for you!
