As we enter the first month of 2023 there is a lot of speculation on the state of the market for the coming year. We don’t have a crystal ball, but the stats from the Calgary Real Estate Board speak volumes of what we can look for in the coming months and year.
Read MoreBRRRR is a term coined over the last few years that has certainly become a popular real estate investment strategy.
BRRRR stands for Buy, Renovate, Rent, Refinance, Repeat
The key to the BRRR method is finding the right property that you can renovate and increase the value.
Read MoreDid you purchase your current property with less than 20% down payment? If so, you have an insured mortgage and paid a mortgage insurance premium when you purchased your home. Not only does the insurance premium offer you security and best rates, but you also have the option to bring the insurance premium with you when you purchase a new home with less than 20% down payment.
Read MoreMoving to a new country comes with many challenges but navigating the mortgage process doesn’t have to be one of them. At MMG Mortgages our agents and staff combined speak 16 different languages! We know that Alberta and BC are unique and diverse with so many different cultures and languages, so if you need additional support with the language barrier, we would love to support you with the help
Read MoreBridge financing or an ‘interim loan’, bridges the gap between a purchase and sale date when these dates do not align.
This is very important for someone who is buying a home when their equity (i.e.: down payment) is tied up in their existing property.
Read MoreThis term is fairly common nowadays for individuals who have mortgages coming up for renewal with higher rates and for anyone in a floating rate mortgage with adjustable payments.
So, what is payment shock and what does this mean for you?
Read MoreBuying a new home comes with many costs and responsibilities. There are a few lenders that offer independent warranty on things such as home appliances and/or major components of your home such as the furnace to help alleviate unexpected costs and hassle.
Read MoreAlways make your contracted payments, don’t defer, or skip payments
Take advantage of your pre-payment options each year.
Maximize your credit score
Loan To Value plays a role. Try to Increase your down payment. If you can swing 35% down payment, this might land you best interest rates without any insurance fees
We are so Excited to have been fortunate enough to secure the “Amazing Ben Rabidoux” for an online event that’s not to be missed!
Ben Rabidoux is the founder and president of North Cove Advisors and Edge Realty Analytics.
Read MoreIf you are planning an inter-provincial move, here is what you need to know:
Moving within Canada to neighbouring provinces has become unbelievably popular.
Read MoreFixed interest rates are still a good option! Between October to December 2021 we saw a sharp incline to the fixed rates. They increased by about .75%-1.00% in just 3 months and have now tapered off and held steady with a few lenders dropping their base rate by about .05%. The fixed rates follow the bond market and not the Bank of Canada’s prime rate changes and so there are different economic factors that will affect fixed rates over the floating rates.
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