Millions of individuals and families obtain new mortgages each year, yet many of them are concerned about whether they are making the best financial choices for their futures.  With a dynamic real estate market coupled with an ever changing financial market, this decision can be overwhelming for most.

There are several things to look at when one is considering a mortgage:

• Location
• Price
• Affordability
• Amenities
• Accessibility
• Credit worthiness

In today's world we are controlled by the economic boom of the moment.  We find that the population of not only the province or the country, and in a small percentage of cases the world, will move to find work and to experience the excitement of life in a new location. 

It is a known fact that a lot of people will not hesitate to move across the world to find a better standard of living.  When you talk to those that have made the move, they give you the impression that we are living in a land of milk and honey.  Even though we have been here forever or as it seems we don't appreciate or approve of what goes on around us.

In today's world most families and people live in a house with all the conveniences of modern-day life.  A home has become a mainstream fixture of most individuals and families lives.  Yet, most do not realize the complexities of real estate or the available choices to consider when purchasing a home.

The Stages of Real Estate

Houses can be categorized as they go through the stages of development, including:

• Planning
• Building
• Selling
• Financing and
• Resale
  

Each of these phases requires a separate kind of financing and has its own complexities to consider.  If you are unsure of how to work through any of these financial situations, we will give you the guidance as support that you need.

Understanding Home Pricing and Values

The price of a house is controlled by many factors, including: location, style, size and the developers.  Supply and demand are many controls which are governed by local conditions.  For example, two to three years ago in Calgary, there was a high demand and a low supply of residential properties, making for a fast-paced and bullish market in some sectors of the city.  Home prices were going up by five to 10% per month and most property values had increased by over 100% over a 4 year period.

Calgary has now gone from a seller's market to a buyers' market in just under two years. Now, there is an oversupply and a small demand for residential properties, making the area a good opportunity for many looking to invest into the real estate market.

The amenities of the area are also very important in a typical city like Calgary for residential home pricing.  Many newer areas never seem to keep up with adequate roads, new schools, the essential services of ambulance and fire control services and police.  Many of these important amenities are the last to be completed in a new region or development. 

Accessibility to services of all kinds is essential and important to almost every home buyer.  And, amenities that are completed or in process will affect the pricing of residential property.

As mortgage professionals, we pride ourselves on offering personal service to our client's associates and friends to help navigate and explain the complexities of residential home pricing to ensure that you are making the best offer and financial decision for you and your family.

Understanding Your Personal Credit Score

Do you know what your personal credit score is?

Do you know what factors influence your personal credit score? Or, how to improve your personal credit score?

One of the most important but underrated thoughts when it comes to lending money is your personal credit worthiness.

Applying for a mortgage is one of the scariest moments in someone's life, as it is typically the single largest purchase made within their lifetime

Your credit score is the most important thing that you must look after in today's environment.  Many people think that all they have to do is go out, work, make a wage, pay the bills and go along with their daily lives. 

But, in reality, managing personal finances is one of the most important responsibilities that we all have.  If we fail to manage our personal financial decisions well, it can cost us the ability to purchase a home, or it can cost us significantly more in interest payments over the life of our home mortgage loan.

Which Mortgage Loan is Best for You?

Once you have made the decision to purchase a property and you have ensured that your personal credit score is strong; you will need to make the decision about which mortgage loan is best for you and your personal needs.

You may decide to leverage an interest only mortgage, or a zero down mortgage, or a long term fixed mortgage. With literally hundreds of various combinations to consider, the choice can be overwhelming.  This decision will affect you not only today, but for many years to come.

We are here to help explain your options, allowing you to select the best mortgage for your personal financial needs.