Click Below To Get The Best Calgary Mortgage Rate!
If you have Great credit and steady income click here
If you know you have a great credit rating, the banks are willing to compete for your business. Our mortgage brokers will shop the market, negotiate on your behalf and make sure you get the best mortgage rate possible. Click Here to get started.
If you think you should have a really good credit rating, let us look it up for you. We’ll go shopping on your behalf and get you the best rate possible.
If you have good credit and steady income click here
If you have good credit now, but maybe a few months ago or a year or more ago it wasn’t so good we may still be able to get you the lowest mortgage rate. We know the lending policies of different banks so we know who to take your file to, so you get the lowest rate possible.
If there were some problems in the past but things are good now, a mortgage broker can really help you. We’ll negotiate with the bank, maybe your own bank, and get you the best rate in the market.
If you have so-so credit, steady income and 20 percent or more downpayment click here
If you had some problems in the past and now have the ability to fix the problems before we go to the banks and you have more than 20 percent downpayment, this is where a mortgage broker really shines.
If you go to the bank directly, it is not likely they will offer you their best rate. However, we know what they are looking for so we will negotiate on your behalf and make sure you get the best rate possible.
If you have good or great credit but not steady income click here
This is a common situation for many people but the banks are uncomfortable with it. For example, people who are self employed frequently have good credit, but their income can vary from month to month. It could also be that you are in a field where the work is seasonal, so you would have a solid, reliable income, but you only work a few months a year.
An experienced mortgage broker can save you the hassle of having to justify how you make a living to someone who has always had a regular salary and can’t fathom how you could live that way….
We will negotiate with the bank on your behalf, explain your situation (over and over again, sometimes) and we will get you the best rate possible.
Not only that, we know you are busy, so we will organize to do most or all of the paperwork by phone and email.
Save hassle, save time and get the best mortgage rate. – guaranteed.
If you have poor credit and steady income and you have more than 20 percent equity in your home click here
There are some loans the banks just don’t want but a private lender would be more than happy to help you out. The interest rate would be a little higher than the bank rate, there would be a lender fee and broker fee… Our mortgage brokers have an extensive network of private lenders who are wiling to give you their own money for a short period of time until you can get your situation straightened out.
If you need help getting back on your feet, this is the way to go. Once you are settled again, we will find a bank to get you the best mortgage rate.
If you have so-so or poor credit and you don’t have a steady income but you do have equity in your home (your house is worth more than what you owe on your mortgage) click here
This is a situation where most mortgage brokers would find difficult, but we have private lenders who are willing to lend money where “it makes sense”. Private lenders don’t have bureaucratic rules and regulations but they do have good sense and life experience. If it makes sense to lend you money against your home, they will offer you a good mortgage rate that is a little higher than the bank, but still makes sense in your financial situation.
Sometimes you need just a little bit of help to get on your feet again. That’s what this program is all about. The goal is to get you the money you need in the short-term, and give you time to get things in order so you can qualify for lower interest bank financing within a year or two.
Why can a mortgage broker get you a lower interest rate at your own bank?
The reality is that most people renew their mortgage at their own bank. They don’t go shopping every time their mortgage comes up for renewal. Banks are a business, so they try to make as much money as possible. If they know you are not shopping around they will charge you a little more.
Most banks have a policy of offering a standard rate to their own customers and they save their lowest rates for mortgage brokers. In many cases your lender at a branch does not have the authorization to offer their lowest rates.
Mortgage brokers are constantly shopping the market so they know which lender has the lowest rate at any given time. If a bank doesn’t offer their lowest rate to mortgage brokers, they know they won’t get any business from the brokers. This is why they are willing to offer the best rates to mortgage brokers.
Why won’t your bank give you the lowest rate?
If you have had some challenges in the past, the bank knows. They often use this information to justify a higher rate. Even if there were valid reasons for your situation and those reasons don’t apply today, it is not likely they will give you the best rate.
The lenders at your bank that deal with mortgage brokers know they are competing with other banks, so they will listen more intently to the mortgage broker and somehow try to get your business. This gives the mortgage broker a lot of leverage that can move things in your favour. In many cases, the lender that deals with mortgage brokers will work harder and sharpen their pencil much more than the lender in your branch.
Why use a mortgage broker?
In addition to the reasons in the above sections, the biggest reason to deal with a broker is because they will give you personal service. You won’t have to run around setting up appointments at the bank. Most, if not all of the paperwork can be handled by phone and email.
A mortgage broker is not a big institution. They are individuals who are willing to listen carefully to your situation and get you the best deal possible. If you are happy, you are likely to give them referrals. This is what makes mortgage brokers tick. They will go out of their way to deliver a higher level of service than you could ever expect from a bank.
What determines the rate you are offered?
There are many factors that a lender will consider when quoting an interest rate. Credit rating, amount of downpayment, ability to prove income are some of the main criteria. Other factors are also considered on a case by case basis.
A mortgage broker is familiar with the lending preferences of different lenders. They will know who to go to for the best rate for your situation.
Why do some people get turned down for a mortgage?
If the credit rating is poor and there seems to be no way it is going to improve any time soon, a lender will usually shy away from that deal.
There are some private lenders who will lend money against the equity in your home, regardless of your credit rating.
Who gets the best mortgage rates?
You are likely to get the best mortgage rate if you have a good job that you have been in for three months or more, preferably two years or more.
You pay all your bills on time and have done so for six or more years (a bad entry on your credit report usually drops off after six years).
You are buying a good quality property (or refinancing), within the city and are paying a fair market value.
You have been saving money for a downpayment and have five percent or more available for the purchase.
You have enough money to cover the closing costs, in addition to the downpayment.
If you have all of the above, the banks will be eager to have you as a client. Expect the best rates. Work with a mortgage broker to avoid hassles, save time and shop the market.