Before you even start home shopping, get pre-qualified by one of our mortgage professionals. You’ll know how much you can afford. And be well on your way to the mortgage that’s right for you

You don’t pick the house that is best for someone else, you pick the one that’s right for you! Trust our professionals to find the mortgage that best fits your needs. To secure a mortgage in Calgary, you should talk to a mortgage broker at https://calgarymortgagedepot.ca/

“Less paperwork and more personal attention” means you enter a frustration-free zone from application to decision. Getting the right mortgage is like getting the keys to your new house! We can help you get there.

Getting you the best mortgage!

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If you own a home and are just looking to refinance, get a second mortgage or cash out equity, you’ve come to the right place! There are almost as many mortgage programs as there are home owners. We’ll help find you the right one

We have access to a number of lenders and offer the most variety in loan programs.

We assist the borrower in filling out the loan application, obtaining the credit report and appraisal, selecting a loan program and finding a lender to fund the loan.

We are also direct lenders and fund our own loans for the borrower who tends to have special needs under certain circumstances.

We’re close to you. Even if we’re not, it’s worth the trip. Or give us a call and we’ll come to where you are. However you reach out, we’re happy to help!

Get Knowledgable On Home Mortgages With These Tips

There are many facets of home mortgages that can be confusing. There’s a lot of things you must understand before obtaining financing. This article has the information you need to get a quality mortgage.

You can apply for a refinanced mortgage, thanks to HARP, even when you are very much under water. Prior to the new program rules, homeowners would apply and get denied for a new mortgage. Gather information about it to see if it can be of benefit to your situation as it can lead to a better credit situation, and lower payments on your mortgage.

If you are unable to refinance your home, try it again. A program known as HARP has been modified, allowing a greater number of homeowners to refinance. Speak to your home loan provider about the new possibilities under HARP. You can always find a different lender if this lender won’t work with you.

Your loan can be denied by any changes in your financial situation. You should not apply for a mortgage until you have a secure job. Avoid changing jobs until the lender has approved your loan because they have based their decision on your current employment situation.

Make sure that you do not go over budget and have to pay more than 30% of your total income on your house loan. Unexpected financial problems can result if the percentage of your income that goes to your monthly payment is too high. Having manageable mortgage payments will help you stick to your budget.

Look into the home’s property tax history. You must be able to anticipate your property taxes. Your property taxes are based on the value of your home so a high appraisal can mean higher expenses.

Do not let a single denial prevent you from finding a mortgage. One lender’s denial does not doom your prospects. Shop around and consider your options. Perhaps it will take a co-signer to help secure that loan for you.

Talk to friends and family to get mortgage advice. They might have some helpful advice for you. Many of them likely had negative experiences that can help you avoid the same. Talk to more people to learn as much as possible.

If your mortgage has you struggling, seek assistance. If you are behind on payments or struggle to keep up with them, try looking into counseling. HUD-approved counselors exist in most regions. With assistance from counselors that are HUD approved, free counseling can be had that helps with preventing foreclosures. To learn more, check out the HUD website.

When mortgage brokers are looking at your credit report, it is more beneficial to have low balances on several different accounts than it is to have a large balance on one or two credit cards. Your balances should be lower than 50% of your limit. Even better, aim for less than thirty percent.

Do your best to pay extra toward the principal of your mortgage each month. By doing this, you’ll pay off that loan much more quickly. For instance, paying just an extra $100 every month can lower your term by ten years.

Are you considering a mortgage loan? Remember, banks are not the only avenue to getting this loan. If you are able to borrow from family or have another option, you can put more money down. You may also be able to work with a credit union because they have a lot of good rates usually. Consider everything before applying for your mortgage.

Be sure you understand all fees and costs related to any mortgage agreement you are considering. Look for itemized closing costs and other charges that included, as well as what the lender commission is. You might be able to negotiate this with either the lender or the seller.

Mortgage loans that have variable interest rates are not a good idea for most buyers. The interest on these loans can vary greatly depending on the economic climate. An extremely high interest rate could make it impossible for you to afford your monthly payments.

If you’re able to pay a slightly higher payment for your mortgage, consider 15 or 20-year loans. Loans that are shorter term have lower interest rates. You could save thousands of dollars over a regular 30-year loan in the future.

In order to qualify for a mortgage with favorable terms, your credit score must be high. Get familiar with credit scores and your rating. Examine your credit report for any errors and correct them to help improve your score. Many times it is beneficial to consolidate your debts into one low interest payment.

The rates that are posted at the bank are just guidelines and aren’t really the rule. Find some competition that’s willing to give you a rate that’s lower and allow your bank to know when you’ll be going there. After that you should be able to get what you’re desiring without paying too much.

Use caution when switching your lender. Loyalty benefits are offered by many lenders, today. They may cover the costs of a home appraisal or offer slightly lower interest rates to encourage repeat business.

For some people, getting a variable rate is the way to go. In fact, brokers usually make more of a commission on a fixed rate mortgage these days. They may attempt to frighten you into taking a locked in option. Keep this fear away when you do it on your terms.

If you get a mortgage solicitation via email or phone, run the other way. Great brokers are too busy working to chase down potential clients. Brokers who have trouble getting businesses will try too hard.

Think about the option of seller financing. Homeowners will sometimes finance you directly for their property. This means that your monthly payments will be made directly to the seller. Usually the lender does not require a big down payment.

These tips will get you off and running. Although the amount of information available about mortgage financing can be intimidating, doing your research is worth it. Knowledge about the process can help the whole thing go much smoother.