Calgary Mortgages

Finding a great mortgage for your dream home in Calgary is imperative to homeownership. Take a look at our posts below to help guide you in understanding more about the world of mortgage financing and how to interact with it.

Found 16 blog entries about Calgary Mortgages.

Average-Possession-Date-in-CalgaryAre you planning on making a move in the near future and are wondering what the average possession date in Calgary is?

Max Barton joined Jared Chamberlain to talk about differences in possession terms and how tight timelines can impact the preparation before possession day. They also cover what buyers and sellers can expect throughout the process.

Average Possession Days in Calgary

In general, 30 to 60 days are needed to prepare for possession. In cases where tenants occupy the property, they can extend possession by around 30 days. Most people who sell their houses in Calgary have to purchase a new home as well after selling their existing home. This process usually needs 60 to 90 days.

While there are times when sellers request an

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2021-Property-Taxes-Are-In-The-MailHave you checked your mail yet? 2021 Property Taxes are coming to you soon. You must know every detail about it.

The officials said that 90 to 95% of the city would not increase its taxes. Is this true? We can only tell once we see the tax bills. All we can do for now is to be prepared.

City Assessed Value Vs. Market Value

The average price of the city has dropped by $10,000, based on their city assessed value. City assessed value is different from market value. Market value is much more tied to the actual value that someone is willing to pay for your house, not what the city is assessing.

Citizens will pay taxes based on city assessed value. Understanding that difference, you have to make sure that you know what the market is doing around

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Is-Real-Estate-OverWe gathered some of our team members to share a wealth of knowledge about real estate.

Our agents, Erin DuPont, Alex Weston, Matt Antrum and Rebecca Chamberlain, talked about tips and trends this year. They also gave guidance to buyers and sellers who are planning to make a move next year.

Unprecedented Time

We have never been in a pandemic before, so none of us knew how to go about it. During the lockdown in March and April, things moved slow. Everybody was cautious about everything.

When the government lifted the lockdown in May, the real estate market took off and switched significantly. Sellers had the opportunity to sell in a hot market due to a lack of inventory.

There was so much interest on the buyers’ side. Most properties on the market had

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Blended_Mortgages_How_to_Save_Thousands_of_Dollars_When_Moving_UpAre you thinking of making a move, but you're stuck with a large payout penalty?

Lindsay Labrecque of Spire Mortgage uncovered a little secret to help you deal with your big payout penalty in order to make a move.

In December of 2018, interest rates were at 3.5% and now it's 2% cheaper. That's about $6,500 savings per hundred thousand dollars, in interest alone. That's a lot of money.

There are people wanting to move because of this, however, they’re stuck.

Pro-Tip

Lindsay shared a pro tip for those who are with one of the big five banks, the charter banks like Scotia Bank, Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, and TD Canada Trust.

You can call your bank to find out what your penalty is and then ask the rate if

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How_to_Fund_Your_Dream_Home_when_MOVING_UPHave you been thinking of making a move up and trying to figure out your financing?

Lindsay from Spire Mortgages, talks about the process of funding your dream home.

When making a move up, funding your mortgage is super-easy. It doesn't have to be overwhelming.

Smooth, seamless financing is the goal of Spire Mortgage. To take all of the factors into consideration, they make sure that all documents are lined up perfectly.

Documentation

The most important thing to have is pre-approvals with actual documents. Computer-generated records are only suitable for rate hold, but mortgage brokers need to see what's going on behind the scenes to ensure that the income is right.

Step one is putting together the paperwork that you need when you're going

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How_to_Buy_Your_First_Condo_in_CalgaryWe invited a fantastic, young couple to talk about their recent condo purchase. This couple shared how they did it, why they did it and much more.

Zendalee works at a school, and Davey is a freelance photographer & videographer. They have been married for two years now.

Their perception of real estate people is from the movies. They think agents are just out to make a dollar and get crazy commissions.

Education is Key

Before the purchase of their condo, the couple had some fears. Primarily, they were unsure about what they were looking for.

They don’t know a lot of real estate terminology, which gave them the feeling of not being educated enough to make the right decision.

Their mindset shifted when Zendalee attended a class for first

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Is_Moving_Inner_City_Considered_Moving_UpIs living in the inner-city with a family a good idea? Should you do it?

We've had lots of clients who have talked about moving to the inner-city in Calgary. One of them is Jeremy Duncan; he made that change and moved to the inner city with his family. He lives at Crescent Heights on the west side of Center Street.

From Suburbs to Inner City

Their first place was a condo in Toronto, Scarborough. They moved to Calgary in 2004 and immediately started looking for a condo downtown.

Their agent pushed them to buy a starter home in the suburbs. Looking back, it was great for them financially.

His family ended up buying a starter home in Tuscany. They stayed there for about nine years. But it wasn't quite what they envisioned having.

Their

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Mortgage_Deferrals_Across_Canada_October_2020What is happening in our country? There are some themes with the lowest percentage and the highest percentage of mortgage deferrals. There were a lot of people who needed to make a deferral on their mortgage given the situation this year with COVID-19.

Mortgage payments are now starting to happen again; you can't defer any further. Lindsay Labrecque of Spire Mortgage sent us some data about mortgage deferrals over the last six months.

These are Canada's top five cities with the highest percentage:
Top 5 - Quebec City and Ottawa – 7%
Top 4 Regina and St. John's in Newfoundland – 14 %
Top 3 Saskatoon - 15%
Top 2 Calgary - 18%
Top 1 Edmonton - 21%

This list shows that there are some themes with the lowest percentage and the highest percentage. There could be

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move_up_in_down_market_postWe've all seen it before. You know when something is going wrong, like really bad, it feels like it's in slow motion. We can replay the moment as an observer from the outside and analyze everything that could have been different.

Unfortunately, this pandemic that we are in, mixed with our economy in Alberta, it may seem like you are stuck. Isolated.

But here's the thing.

If you are in a position of good income still, you have probably saved money over the past number of months due to lack of spending; you could be in a great position to make a move up in this down market.

This may seem like a crazy thought in a time like this, but hear us out, because if you do this right, the math is in your favour.

Right now, the market is down from what it was a couple

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real_estate_marekt_report_april_2020

After a really strong start in 2020 that our brokerage saw in sales and activity, we have seen some changes, as expected. Many homeowners are still having possession taken place over the coming weeks from the sales that happened over a previous couple of months.⁠ ⁠ With all the COVID-19 talk and impact on Calgary, we are starting to see some of it affecting our market. Here is what we've noticed:⁠ ⁠

  1. If you are still thinking of selling and are ready, DO IT! 
    Here's why... Many homes are coming off the market, sellers taking a pause in their transition for many reasons. With the inventory low, our agents are actually calling agents who had listings that have expired to see if their client would be open to selling because we have buyers who are
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