Your Top Certified Mortgage Brokers in Calgary!
…a GTA based brokerage with a decade of experience under its belt.
Get the Best Mortgage Rates from Certified Mortgage Brokers of Calgary!
At Certified Mortgage Broker in Calgary, we are dedicated to finding the best mortgage solutions based on your particular financial needs. With over a decade of experience under our belt, we are not only sure to provide a headache free experience, but also the best services, rates and terms. Whether it is a residential, commercial or private mortgage you seek, we are at your service.
Who We Are – Certified Mortgage Brokers Calgary
Our prime objective is to deliver unbiased mortgage advice and provide options to securing financing for your next purchase. We work with dozens of lenders all across the country, including banks, B lenders and private lenders.
What You Will Get From Working With Us
We at CMB want to ensure that our clients are able to navigate the often-complex process of getting a mortgage so they can buy the property that they need. Making a mistake can not only be costly but also result in a lot of wasted time and effort. When you deal with us, we will work to get you the best deal for your mortgage so that you’ll soon be holding the deed to your new property.
What We Stand For
As an experienced Mortgage Broker we work both in Calgary and across the country, with a priority in mind to ensure that our recommendations are unbiased and based solely upon the best interests of our clients. We pride ourselves on our independence and integrity, and in always putting the needs of our clients first.
Call Us Today +1 866 921 8890
Questions? We’re here to help!
FREE LEGAL FEE PROGRAM!
We will cover your legal fees when you do a mortgage with us. At Certified Mortgage Brokers, we are committed to make your life a little easier.
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Understanding Mortgage Basics
If you are interested in learning more about mortgages, we invite you to take a look at the short primer we have prepared, so that you’ll have a better idea of what to expect.
A mortgage is a loan taken out in order to purchase real estate, with the property being used to secure the debt. It is paid off in a series of monthly payments, and the term of the mortgage can be anywhere from fifteen to thirty years.
When you take out a mortgage, you are required to pay a small percentage of it to secure the loan. This is called the down payment, and in Canada the minimum amount is 5% of the total debt as long as it does not exceed $500,000. The portion of the mortgage above $500,000 is charged an additional ten percent.
What You Need To Know
This is the process of getting assessed by a lending agency to see how much you can borrow and at what interest rate. Pre-approval will help you get your mortgage more quickly by helping you determine how much you can afford and locking in a rate.
There are two types of rate options – fixed and variable. Fixed interest rates mean that the rate will remain consistent throughout the term of the mortgage, while variable rates are subject to change depending on prevailing market rates.
Mortgage Term vs. Amortization Term
The amortization term is the period over which you will pay off the mortgage. The mortgage term, on the other hand, is just the term of the loan, at the end of which you may not have paid off the mortgage in full and can renegotiate for more favorable terms with the lender or look for better terms with another lender.
Calgary Mortgage Frequently Asked Questions
What is a Mortgage Term?
The loan that you make to buy a house or some other property is called a mortgage. The principal refers to the amount borrowed. Each mortgage payment pays off part of the principal plus the interest.
You have custody over the property. However, if you fail to pay the loan and interest according to the terms of the contract, the lender may repossess the property.
What is a Down Payment?
A down payment refers to the money you pay for real estate property. This money is paid upfront and the rest of the cost of your new home is covered by your mortgage. For properties that cost up to $500,000, the minimum down payment in Canada is 5% – however, do take note that your lender may sometimes require a higher down payment.
But what if the cost of the property is more than $500,000? If that is the case then the interest is 5% for the first $500,000 and then 10% for the remainder of the cost.