Experts best at brokering mortgage

Denise Deveau, Postmedia News · Mar. 30, 2011 |

Cheryl Hutton and Aaron Coates always thought getting a mortgage would be a challenge. But within 18 days of visiting a mortgage broker, they were able to close a deal on a new townhouse in Calgary without a hitch.

Home prices rise for second consecutive month

According to the latest numbers the correction of housing prices late in 2010 seems to have been a short-lived phenomenon, as for the second consecutive month prices increased overall in four of six Canadian metropolitan markets.

For U.S. housing, a new collapse

Bordered to the west by idyllic Gulf of Mexico beaches and to the east by the natural bounty of the Everglades, upscale Naples is one of Florida’s premier retirement destinations.

Naples’ charms made it an epicentre for the Florida property boom, where unfettered speculation and limitless credit lifted property values to the stratosphere.

Seize the spring and clean up your budget!

While you are busy freshening up your home and garden, you might want to consider pulling out your wallet, blowing off the dust and giving it a good seasonal purge as well. Your finances are like anything else in life: after a while, you start to forget your good habits, and things tend to get sloppy, neglected and disorganized. So seize the spring.

Here are ten tips to organize your finances and clean up your budget:

Modest budget aims at stability: Flaherty

There are a number of measures aimed at students and on education and training. For example, exam fees would be eligible for the existing tuition tax credit.

Home-buying help in your pocket

Mobile apps can be used for just about anything these days. From remotely starting a car to filming and editing entire feature-length films using a smartphone, there are even apps out there to help buy, sell or renovate a home.
With spring officially arriving on Monday, the busiest time of year for the real estate industry is now here. According to the Canadian Real Estate Association, the majority of deals to buy or sell a home will occur in the next few months. To help buyers and sellers stay on top of their own efforts without having to stay on top of their home computer, Financial Post technology reporter Jameson Berkow found some of the more useful real estate apps for Canadian house hunters.

HST Calculator

Please use the following link for calculating the HST and the final purchase price:


HST Calculator

Mortgage Calculators

Please use the following link for calculating the Mortgage Payment, the Income Required or How Much you can  Qualify for:


http://iphone.yespros.verisite.ca/

Quick Credit Repair

Quick Credit Repair Strategy to help you get back on your feet!
If you or someone you know has been through an emotional Bankruptcy in Canada due to a major life event, business failure or credit mismanagement, there is still a second chance to get back on your feet. After all, we are human and sometimes bad things can happen to good people.

After Buying A New Home

1. Follow-up on your utility transfer.
You may have already started this process prior to closing. If not, that's okay too. Just be sure to follow up on electricity, gas, water and other paid utilities in your area to ensure proper transfer. It will save you a lot of headache later on, and possibly even a "lights-out" scenario.

Protect yourself

Seeing through home sellers' camouflage

In some cases, people anxious to sell their home have been known to make a few cosmetic adjustments to hide the areas where their house might need a little extra care or even some serious repairs. Here's what to watch out for.

The ABC’s of Condominiums

Condominium Fees
When looking for a new condominium, it is important to know what is and what’s not included in the purchase price, such as:
1. Are utilities covered in the monthly fees?
2. Is parking included in the purchase cost?
3. Are the fixtures and drapes within the unit included in the purchase price?
4. Are there other charges in addition to the purchase price that you should be aware of?

Mortgage Terminology

Glossary


Amortization: The period of time required to completely pay off a mortgage debt, if all payments are made on time and the terms of the mortgage stay the same.

Types of Mortgages

Conventional Mortgage


A conventional mortgage is a mortgage loan that does not exceed 80% of the lending value of the property. The lending value is typically the lesser of the property’s purchase price and market value. Your down payment is at least 20% of the purchase price or market value.

Mortgage Interest Rate

Fixed, Variable or Adjustable Interest Rate

Mortgage interest rates are either fixed, variable or adjustable. A fixed rate is a locked-in rate that will not increase for the term of the mortgage. A variable rate fluctuates based on market conditions while the mortgage payment remains unchanged. With an adjustable rate, both the interest rate and the mortgage payment vary based on market conditions.

Mortgage Approval

A pre-approved mortgage certificate is not a guarantee of being approved for the mortgage loan.
Even if you have a pre-approved mortgage certificate, you must still meet your lender during the conditional offer period to get a final mortgage approval.

Mortgage Pre-Approval

Get Your Mortgage Pre-Approved


Getting your mortgage pre-approved will let you know what kind of house you can afford.
To get your mortgage pre-approved, you will need:

• your personal information, including identification such as your driver’s license;
• details on your job and proof of your salary;
• information about your bank accounts, financial assets, current loans and other debts;
• how much your down payment will be and where the money is coming from; and
• proof that you have enough money to cover the costs of closing the sale, usually 1.5% of the cost of the house.