When you decide to buy a property or refinance a mortgage, it’s a big step. You can trust us to find the best mortgage that fits you.

Buying or building a residential development, a new business or a commercial property may be a source of anxiety, frustration — and a huge sense of accomplishment. This works the same when it comes to that new yacht or aircraft you’ve been considering for a long time!  You didn’t pick the one that was best for someone else, you picked the one that’s right for you! Trust our professionals to find the right mortgage that best fits you and your family’s needs, too. “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!.

The following article is from the Alberta Mortgage Broker Association website: https://www.amba.ca/content/understanding-mortgages

Understanding Mortgages

Mortgage Types
There are several different types of mortgages to consider when shopping around. Ultimately, you need to find the right one for your situation. Below are explanations about each type.

This type of mortgage remains unchanged for whatever term you agree to. Prepayment penalties will apply if you decide to payout, renegotiate, or refinance before the end of term.
  • Provides lower rates than open or convertible mortgages.
  • Often gives you options to make additional payments up to a certain amount without penalty. For example, you may be allowed to make a 20% lump sum each year that goes directly onto the mortgage principal. This is known as a pre-payment privilege.
This type of mortgage may be repaid, in part or in full, at any time during the term without penalty.
  • Provides flexibility until you are ready to lock into a closed term.
  • Allows you to pay off any or all of the mortgage without prepayment costs.
This is a mortgage which offers the same security as a closed mortgage, but which can be converted to a longer, closed mortgage at any time without prepayment costs. It is typically associated with fixed rate mortgages.
  • Provides security and flexibility allowing you to convert into a longer closed term mortgage without prepayment costs, if you think rates will rise.
  • Allows you to make an annual prepayment of up to 10% of your original mortgage amount.
A reverse mortgage is a product available to homeowners 55 years of age and older that allows them to draw liquid cash from their home without having to move or sell.
Rate Types
An interest rate that does not change during the entire mortgage term.
  • You can take advantage of the same interest rate for the entire term with a regular payment that stays the same.
  • You will have the security of knowing exactly how much your payments are and how much of your mortgage will be paid off at the end of your term.
An interest rate that can fluctuate during the term. The interest rate varies with changes in market interest rates (typically the bank’s prime lending rate). The mortgage payments can be fixed, or they could change if the interest rate changes – it depends on the lender and type of product.
  • Historically, variable rates have been lower than fixed rates and could save you more money.
  • If rates go down, a larger portion of your payment goes towards principal, helping you pay off your mortgage faster.
  • Your regular payment stays the same even if rates change.
Amortization Period 
The amortization period on a mortgage is the total length of time it will take to pay off the mortgage.
Terms and Conditions of the Mortgage
Determining the terms and conditions requires some negotiating with the lender. These include:
  • The amount of the mortgage – how much the lender will lend you.
  • The amortization period – how many years it will take to pay the mortgage off in full.
  • The term of the mortgage – the length of time the agreement with the lender is in effect.
  • How often payments will occur.
  • If it’s a fixed or variable rate mortgage, and the interest rate on the loan.
Looking for a licensed AMBA Calgary mortgage broker?

Refinancing your current mortgage to a fixed rate has never been easier.

If you thought refinancing meant getting buried under mountains of paperwork, think again! We make it easy and worry-free to reduce your interest rate and monthly payment. We can even help you pay down your balance more quickly for comparable monthly payment. Let our professionals guide you to the very best refinanced loan!

Tapping into your property equity is easier than ever before. You’ve been paying down your balance, and property values have gone up! Tap into that wealth and reward yourself. We’ll help with the best program to fit your goals.

Another field of work provided by real estate near Edmonton is mortgage broker industry which helps thousands of homeowners buy which further enriches the economy. Temp agencies are already engaged with many people of all skill sets.

FNES also recommends Edmonton Mortgage Broker for your mortgage in Edmonton.

Our mortgage professionals give you the personal attention you deserve and treat you with the respect due a valued customer. We understand you’re making a commitment in buying a new home, business,  commercial, or development property, as well as refinancing or expansion of the existing facilities.

So we make a commitment to you. We will help you qualify, apply and be approved for the right mortgage loan for you. Not anybody else!

Please navigate our website to learn more about us, what we do for you, and how easy it is to get started.

GCF can also assist with your yacht and aircraft financing needs, as well as for real property.

Real estate and mortgage broker inquiries and long-term relationships are welcome!

Your investment property allows you to get a return in the shape of rental income while you’re properly value grows with time. Most Canadians do not know they could make their mortgage franchise tax – one single instance of priceless info a good mortgage broker may pass along. A latest – and legal – technique is forming in the economic community toward this end, and knowledgeable mortgage agents leading the charge to save their customers money. The monetary technique under consideration to make your mortgage tax deductible is known as the Smith Manoeuvre. Contact  your local Calgary mortgage broker for more information.