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…
Purchasing a home is an exciting milestone, but it comes with more costs than just the down payment and mortgage. One of the most overlooked aspects of buying a home in Canada is the array of closing costs involved in finalizing the purchase. Understanding these expenses will help you avoid surprises and budget effectively for…
As we embrace the opportunities of the new year, our team at Canadian Mortgage Professionals is here to ensure your mortgage works as hard as you do. A yearly mortgage review can make all the difference in reaching your financial goals. Here’s why: Re-Evaluate Your Mortgage Rate Mortgage rates can fluctuate significantly, and market trends…
Expanding Housing Options with New Mortgage Rules The federal government has introduced a mortgage rule change designed to increase access to home equity funds, making it easier for homeowners to finance the addition of secondary suites. These refinances, previously unavailable since 2016, are back and aim to help Canadians cover the costs of building…
The days of ultra-low interest rates are behind us, and renewing your mortgage in this environment can feel overwhelming. But don’t worry — there are options to help you navigate the process and secure the best rate. Rates Are Coming Down, But… While mortgage rates are finally easing — including variable rates linked to Bank…
As of October 20, the Alberta government has introduced a new land titles registration levy that significantly increases fees for land transfers and mortgage registrations. This adjustment, announced in the provincial budget earlier this year, has come as a surprise to many Albertans, especially those planning to buy property or refinance their mortgages. What’s Changed?…
Prepare Your Home for the Canadian Winter If you know our mortgage broker, Bob, you know he’s a man who takes care of both his house and office with meticulous attention. After all, why not? You’re protecting the biggest purchase of your life! As we approach the colder months, it’s time to ensure your home…
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…
As a homeowner, one of the most significant financial milestones you’ll encounter is the renewal of your mortgage. With a staggering $251 billion of mortgages set to renew in 2024 and an even larger $352 billion in 2025, it’s crucial to be prepared. According to the Bank of Canada, “virtually all” remaining mortgages will go…
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…