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Thursday, 21 March 2013

Finding the right mortgage stressful?

Over 35% of Canadian find they have a hard time to get straight answer out of mortgage lenders. Lower than 10% finds the experience “stress free”  according recent surveys by ING and Angus Reid-poll released this week .
The stress comes in three different ways, according to participants:
1.       Complications with negotiating a rate (almost 60%)
2.       Make the right decision on the term and product will fit (over 50%)
3.       Getting any kind of help from mortgage lenders
Borrowers in the age category of between 18-34 are finding while research material is abundance, comparing offers are confusing and overwhelming. Over three hundreds products provided by banks, trust companies can be misleading and hard to understand. Rates from Canadian, Calgary mortgagebroker and or other brokers are well researched and seems like there is a way to make the process simpler.  There are two ways to get a mortgage:
       Contact numerous lenders and ask for information about their product and make the decision …
       Seek out the help of a Professional Mortgage Broker, who will do the job for you, save time, effort…
Now you must remember a few things:
1.       You cant rely on a lender to give you competing information, rate or product, as each are promoting the only choice they have, their own product.
2.       There are many sides and components to a mortgage and as you are not a professional, you might not ask the right question and or forget to ask the most important question, and most likely the one you forgot will come back to hunt you.
3.       Brokers doesn't sell mortgages from all lenders, however have access to all lenders and able to obtain the best rate, the best product: custom fitted to your circumstances and needs and not of the lenders.
As a results are most likely you will end up with a better mortgage rate, product and save a lot on interest, when you hire a mortgage broker. Look at brokerages provide free consultation and provide you with a plan, as you must know about the step will be taken in your interest. Ask tough questions and if you get detailed answers, most likely you have found your broker, who will represent you the best.

Some people have expressed their concerns and opinion…
…hate when you ask a lender for rates, get an answer and you find a lower rate just to find out you original lender is ready to match and even undercut that rate…
…a mortgage broker in Calgary have proved me, mortgage brokers are very qualified to find you the right mortgage, but you must shop when you make a decision which broker you will trust…
…we were shopping for rates foe four weeks just after we have got pre-approved by our broker and his quoted 2.89% was beaten by one of the lender we have found after hundred hours searching 2.88%, we wished we would have listened to our broker at the first place, would of saved a lot of frustrations…
…we have got a rate from one of the lenders we have contacted 2 years ago and we have decided that is it, the rate have beaten out any other offers an we have rushed to sign, make it happen. Wow, what a huge mistake, after 2 years we are moving and to pay out the mortgage, a 5 year fixed mortgage, we will have to pay a penalty over $30,000 IRD to just get out of it and now we have no clue what would be our next step…
…we have learned from that Calgary mortgage broker, the rates are important, but the product, what is fitted for us, equally as important, as we, like others have special circumstances and needs when we look into the future. Most important, now we know, to have clear strategy and an executable plan if we to avoid traps… thank you MortgagePRO 

Saturday, 16 March 2013

Mortgage pre-approval will give you confidence

Mortgage Reference Centre, where you are able to get all the knowledge you need to be able to handle every aspect of home buying. You need knowledge to be able to make a better decision, representing your interest and not of the seller and or the mortgage lender. Calgary mortgage broker MortgagePRO Ltd. has all the tools to equip you with, enabling you to shop with confidence:
"Before, home buyers would typically leave arranging their financing last, after they purchased a property. Today this can cost you dearly. It may cause you to loose the house you find to someone who did get pre-approved. It also protects you from an increase in interest rates during the term, besides gives you a piece of mind there will be no eleventh hour surprises. (generally it is up to 120 days). This service is FREE: request online at MortgagePRO."
 In any case, give your Broker all your information, get pre approved early, get a certificate and you will have more confidence, better negotiating power and attitude. Ability to negotiate a better price is way easier when you know how much you can spend, besides you are not running around town, trying to buy a property, you cant afford. Make you Realtor aware of, you have been pre approved, see how happy he will be. He will make your home buying experience a much more pleasant one, trust me, we know.
MortgagePRO deals with all banks, however we are able to combine private lenders funds for a positive outcome and approval if needed.

Friday, 8 March 2013

Banks are lowering interest rates, good or bad


Big banks are abusing their power

By Donald Horne | 04/03/2013 8:00:00 AM |comments

One leading broker is echoing Jim Flaherty’s concerns about bank irresponsibility, following a major Canadian Bank announced 2.99 rate on a 5-year-fixed mortgage Saturday, cautioning an abuse of the public trust. Calgary mortgage broker, mortgage broker Calgary, mortgage rates, mortgage approval
“When the big banks start abusing their power by lowering interest rates like this, it is not in line with the responsibility that has been afforded them by the federal government,” says a well known Broker.
A Major Bank lowered its 5-year fixed mortgage rate from 3.09 to 2.99 per cent – a similar move made by the major lender back in January of 2011. The then record-setting low rate precipitated comparable rate changes throughout the lending channel, spurring Finance Minister Jim Flaherty to change the qualifying mortgage rules to answer concerns that Canadians were taking on too much debt.
Flaherty warned banks not to engage in a “race to the bottom” practice of rate cutting as the spring home buying season kicks into gear – urging prudence so as to avoid the type of mortgage crisis that decimated the U.S. housing market. A
However, Broker told MortgageBrokerNews.ca that he would be “extremely surprised” if there were any new rules introduced by Ottawa in the mortgage sector, and that the changes made last June are just now having an impact on the market now, making any further toughening of the mortgage regulations unwarranted.
“The rule changes seem to be working,” he said, referencing the reduced maximum amortization for government-insured mortgages from 30 years to 25, and reduced equity that can be borrowed against a home from 85 per cent to 80 per cent.
In addition, this bank 2.99 rate is far from the lowest today, easily beaten by any number of 5-year-fixed rates offered on such websites as MortgagePRO
A well informed client has the smarts to have a great decision, look up MortgagePRO and get started today by subscribing to our newsletter to be all time on top of the latest news and industry trends. Knowledge is valuable and you will get it free by consulting an expert.

Friday, 1 March 2013

Mortgage Brokers take note on private lender

We are in the business to lend money no matter what the needs are....
We specialize in private mortgage lending, investing our own and many of our private investor funds into mortgages. Private Lender Inc. helps "hard to approve" applicants obtain mortgages. We have a variety of options available for your client and can often have you approved in 24 hours.
Visit our Broker page to view guidelines and lending criteria. We are never too busy to take your call, listen to your proposal on a file and certainly we are never too busy to find your client a solution.
It would be foolish to say we will do anything and we will approve every file you bring to us, but it is safe to say, if we can not do it most likely nobody else will.

When your clients have been turned down by the banks, Private Lender Inc. can provide a short term, temporary solution while you work with them to find a permanent, low interest, institutional lender. We will find a product that fits their circumstances and needs even when they have credit or job issues. Equity rules!

We have been sending out promo emails to you in the past, however with the new privacy laws and Brokerages blocking our emails, we will be able to send only limited amount to limited Mortgage Brokers in the future.

Files, where clients have issues are our specialties. Credit repair, debt consolidation, debt settlement and other solutions are part of our plans. We turn your client bankable, you get them a bank mortgage, everybody is a winner.