Securing the best mortgage rate in Calgary requires more than just checking lender websites, it involves understanding market trends, maintaining strong financial health, and working with an experienced mortgage broker. At Canadian Mortgage Professionals, we specialize in helping homebuyers and homeowners navigate Calgary’s mortgage market, ensuring you secure the lowest possible rate with the right…
When it comes to securing a mortgage, one of the biggest decisions you’ll make is choosing between working with a mortgage broker or going directly to a bank. While both options can help you finance your dream home, there are distinct advantages to working with a Calgary-based mortgage broker, especially if you’re looking for personalized…
Recent changes to mortgage rules, announced by Finance Minister Chrystia Freeland, are designed to help more Canadians—especially younger ones—achieve the dream of homeownership. These changes, set to take effect in December, aim to provide greater flexibility and opportunity for homebuyers in today’s evolving housing market. Boosting the Price Cap for Insured Mortgages One of…
Recent reports have brought to light an increasing concern for many Canadian homeowners: rising mortgage delinquencies and negative amortizations, particularly with variable-rate mortgages (VRMs). As prime rates have increased over the past two years, many homeowners with VRMs have found themselves in a challenging situation where their mortgage payments do not adjust with the changing…
When it comes to getting approved for a mortgage, the type of debt you carry can significantly influence a lender’s decision. Lenders typically assess debt in one of two ways: either by considering the entire balance and calculating it into monthly payments or by factoring in the actual monthly payment impact on your cash flow.…
Renovating your home can be an exciting prospect, whether you’re a first-time home buyer, or a seasoned homeowner. Renovations can enhance your home’s layout, update spaces, and even add value to your property. However, financing large-scale renovations can be a challenge if you don’t have the cash on hand. Here’s how you can incorporate renovation…
In today’s competitive Calgary housing market, low inventory often pressures buyers to make no-conditions offers. While appealing to sellers, these offers carry significant risks. Understanding No-Conditions Offers A no-conditions or “clean” offer eliminates the usual buyer protections, such as financing approval, home inspections, and sale of the buyer’s current home. This can expedite the sale…
Using a “Stand-A-Lone” Mortgage Broker Matters – A Commitment to Client Interests & Exposing the Truth Behind Bank Practices. We can all agree, in the world of financial services, trust and transparency is paramount. With that said, Recent revelations from a unique CBC investigation shed light on the unsettling reality within some of Canada’s largest…
If you’ve been contemplating buying a home in Calgary, there’s no better time to make your move. Despite the challenges posed by the current real estate market, Calgary stands out as a promising destination for prospective homebuyers. Here’s why: 1. Record High Rental Prices According to recent data, Canada’s average rent price hit…
Calgary’s real estate landscape in 2023 was characterized by robust sales, unique shifts in buyer preferences, and persistently low supply, making it a dynamic year for both buyers and sellers. In this blog post, we delve into the key trends that shaped the market and explore the factors that drove housing prices throughout the year.…