The Mortgage Group Alberta Ltd.

The age old question.... should we go fixed or variable?

There is no right or wrong answer but you can use these guidelines to help you choose what is best for you.

Typically a variable mortgage will pay off faster than a fixed.  However, for one of the few times economists are saying it won't matter much for the upcoming five year term as they will be very comparable.

Based on todays mark ...

Now that its tax time don't forget if you bought a home this past year to claim the First Time Home Buyer tax credit.  What is FTHB tac credit you ask?

The costs associated with purchasing a home, such as legal fees, disbursements and land transfer taxes, can be a particular burden for first-time homebuyers who must pay these costs, as well as save money for a down payment. To assist first- ...

What is the Homeowner Title Insurance Policy?

Insuring the ownership of your property (referred to as "title") is just as important as insuring your property and its contents from physical loss or damage.

Among other things title insurance can cover previous renovations gone wrong, gaps in registering the title, encroachments as well as title theft.
It is a one time fee based on the price of ...

The Honourable Jim Flaherty, Minister of Finance, and the Honourable Christian Paradis, Minister of Natural Resources,  announced prudent adjustments to the rules for government-backed insured mortgages to support the long-term stability of Canada’s housing market and support hard-working Canadian families saving through home ownership.

“Canada’s well-regulated housing sector has been an impo ...

What is an AMP? 

The Canadian Association of Accredited Mortgage Professionals (CAAMP) is the national association and the collective voice of the mortgage industry in Canada. The (AMP)Accredited Mortgage Professional designation was created by CAAMP as part of its ongoing commitment to upholding the highest standard of industry ethics and professional excellence. The designation is now held ...

What is Mortgage Insurance and Why do we have to have it?

It used to be that if you wanted to get a mortgage in Canada you would only be approved if you could come up with 20% down. For a lot of people that was a challenge and made it very difficult for the average individual to get a mortgage. So the Canadian Government stepped in within a solution. That solution was mortgage insurance. Cana ...

More and more I find that people are becoming more educated on how they can use their mortgage to their benefit. That means a lot of clients are seeing mortgage brokers about refinancing their mortgages. With refinancing however often times a client is charged a payout penalty to get out of their mortgage. Today's blog will discuss what payout penalties are and how anyone can calculate them.
...

One of the most common questions mortgage brokers are asked is "What paperwork do I need to get started?" For most individuals the list is quite small and it is probably a lot easier to gather than most people think. Below is a list of documents people can gather to start the prequalifying process.

Documents required for a Salaried Employee with no bonuses:

Letter of Employment

The Letter ...

By now many people have heard of the new mortgage guidelines that will be in place after April 19th. The 3 main changes are as follows:


1) Require that all borrowers meet the Standards for a five year fixed rate mortgage even if they choose a mortgage with a lower interest rate and a shorter term. This initiative will help Canadians prepare for higher interest rates in the future.

2) Lower ...