Investing vs Paying Off Your Mortgage Faster, Which One Is Right For You
Investing or paying off a mortgage faster is one of the biggest questions many people want the answer to. It's a question most people struggle with on their quest for financial freedom. The truth is the answer to this question depends on different ...
Posted by Gerard Hagan on June 12, 2017 in Edmonton Real Estate Investing
Mortgage Secrets Everyone Should Know
Mortgages are not a subject we learn about in high school, although I wish they were.
Credit, interest rates and qualifying for a mortgage are all things that will greatly affect your lifestyle going forward. Some hear about them through friends, ...
Posted by Gerard Hagan on March 17, 2016 in Edmonton Mortgages
Edmonton Real Estate Stats | January 2016
Total inventory in Edmonton and surrounding Areas still remained quite high. As sales continued to decreased. This provides an excellent opportunity for buyers to jump into the market while interest rates still remain low. The increase in the ...
Posted by Gerard Hagan on February 22, 2016 in Edmonton Real Estate Statistics
Edmonton Real Estate Stats November 2015
Although Edmonton is currently in a Buyer’s Market, prices are headed downward. There are many factors for this; the time of year, inventory, oil and the biggest of all the Alberta economy. If you are looking a deal now may be the time to ...
Posted by Gerard Hagan on December 9, 2015 in Edmonton Real Estate Statistics
Edmonton Real Estate Stats October 2015
Right you could say that the Edmonton Real Estate Market is on somewhat of a “Slippery Slope”. Even though prices rose by roughly 1% - 2% mainly due to the luxury market, sales are still down compared to last year, but the overall ...
Posted by Gerard Hagan on November 6, 2015 in Edmonton Real Estate Statistics
Can You Buy A House with An Alberta Private Mortgage?
Alberta Private Mortgage Can Help You Buy A House Even With Poor Credit
Banks generally require a credit score of 680 or above, in order to put a mortgage in place. This, of course, bars many from the mortgage from a bank or traditional lender. ...
Posted by Gerard Hagan on November 4, 2014 in Edmonton Real Estate Buying Tips
RBC Lowers Mortgage Interest Rates – Other Major Banks Follow Suit
RBC was first out of the gate, so to speak. This past weekend, this major Canadian bank shaved an average of 10 basis points off of various fixed-rate mortgages. The five-year closed rate went down to 3.69 percent. No celebration, no fanfare. The ...
Posted by Gerard Hagan on January 30, 2014 in Edmonton Mortgages
Edmonton Mortgage Documentation Checklist
Verification of Income:
Salaried or Hourly Wage Employees
Letter of Employment on company letterhead with name and contact information for party authorized to verify the information; must state minimum guaranteed income/hours, rate, tenure and ...
Posted by Gerard Hagan on November 13, 2013 in Edmonton Real Estate
Getting a Mortgage if You’re Self-Employed Requires More Effort
Getting a mortgage these days is tough enough, trying to achieve the same lofty goal if you’re self-employed is even worse. Granted, when the economy was in the darkest depths of the financial downturn, self-employed parties needed an extra ...
Posted by Gerard Hagan on September 30, 2013 in Edmonton Mortgages
Mortgage Survey: Canadians Favour Fixed Mortgages Over Variable
The firm of Harris Decima recently conducted a survey across Canada regarding mortgages. In it they found that for the third straight year, Canadians tend to favour fixed rate mortgages over the variable. Another find, on the issue of the ...
Posted by Gerard Hagan on March 22, 2013 in Edmonton Mortgages
No Interest Rate Hike Expected In Near Future Per Bank Of Canada
The Bank of Canada concedes that the nation’s economic picture is currently a bit weaker than expected, that same entity did predict a reversal in the near future. Growth on the economic front in Canada did not quite live up to the predictions ...
Posted by Gerard Hagan on March 1, 2013 in Edmonton Mortgages
Infill Housing Re-Zoning Plan In Edmonton Causing Community Concerns
Edmonton is considering a zoning bill intending to make use of unused spaces in some of the city’s more mature neighbourhoods. A number of community leagues are not pleased at the idea of putting up infill housing and it is possible that bill ...
Posted by Gerard Hagan on February 13, 2013 in Edmonton Communities
Canadian Bankers Weigh In On Real Estate Market In Canada
Those in the know now expect that Canada’s real estate market will not endure the predicted bubble, but rather will weather a softer landing. The market is still seeing a bit of a slowdown, largely due to the change in mortgage lending rules ...
Posted by Gerard Hagan on January 11, 2013 in Edmonton Mortgages
Larger Down Payments Sometimes Mean Higher Mortgage Rates
It would seem logical that putting down a large down payment on a property would be a smart move. As it turns out, a smaller down payment may actually save you money in the long run. Because of government mortgage default rules on insurance, it is ...
Posted by Gerard Hagan on June 13, 2012 in Edmonton Mortgages
Do you have a mortgage? Then there’s likelihood you have mortgage insurance. This type of insurance is provided by the lender and not the government (CMHC insurance). The purpose of lender mortgage insurance is that if you become utterly ill ...
Posted by Gerard Hagan on May 26, 2011 in Edmonton Mortgages
What To Do After You Have Been Denied A Mortgage....
Have you found your dream home but were denied a mortgage? A problem with your application doesn’t necessarily mean that you’ll be stuck paying rent for the rest of your life. There are ways of working around issues like debt; credit ...
Posted by Gerard Hagan on December 7, 2010 in Edmonton Mortgages