Mortgage Services by Aery Mortgages in Calgary, Alberta

If you are planning to buy your first home it’s a big change and I can make that process easy. Biggest considerations for Canadians who are ready to buy a house is credit history and the down payment part. You do not need to worry. I am here to save you from the trouble on credit, and all the paperwork. I can streamline all that process for you and if you do not have any established credit, we can still help you qualify for a mortgage with three months of employment history and by demonstrating credit worthiness to your lender in other ways some of which are Proof of timely rental payments and one alternate credit payments l such as utilities, telephone, cable, insurance premiums, along with a bank reference letter, A valid work permit or landed immigrant status.

It is always a good idea to start establishing your credit in Canada as soon as you can. A down payment of 5% is the minimum, although a larger down payment may be required. I can help you to acquire your dream home smoother; I’ll advise you on the paperwork you need to apply for a mortgage.

It doesn’t matter if your office is a garage, a downtown shared space or the front seat of your pickup truck, being your own boss is truly a thing of beauty. Of course, being self-employed comes with a lot of perks like flexible working hours, charting your own destiny, and the allure of a cubicle-free paradise. But, does it seem like the Canadian mortgage products were designed for the typical T4 employee?

In the scenario when you are self-employed most lenders require that personal tax notices of Assessment from the past 2-3 years be included with the mortgage application. If you are able to provide the above stated proof of income, you can access the same mortgage products and rates as normal borrowers, if you cannot then at least you should have a good credit history and provide a minimum down payment of 10%.

Mortgage renewal is an important financial decision that is equally as important as selecting your first one. At the time of renewing your mortgage, it is important to remember that you are in a stronger financial position, because you have enough equity grown in your house by that time. By decreasing your principal loan balance you are in a much stronger position to negotiate. Approximately 60% of borrowers simply sign and send back their renewal that is first offered to them by their lender without ever shopping around for a more favourable interest rate. This can often result in higher rates and a mortgage package that may not fit with your current needs.

It is a good idea to start shopping for a new term between three to six months before your current mortgage term expires. Normally lenders send your renewal letter very close to the time that your term expires and this does not give you enough time to shop for a better mortgage rate through a another lender. This means that you need to be tracking your own mortgage term timeframe and know when it is time to start shopping for a good mortgage renewal rate. Consult a mortgage broker. They’ll make sure you have the latest product and mortgage information to help you make the right decision for you.