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MortgageFAQ_EN

Sep 08

MortgageFAQ_EN

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Take the Stress out of Buying Your First Home
You are pre-approved! What are the next steps?
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Your credit – the factors and impacts on credit scores
CMHC Guideline Changes

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The Rockies are getting ready for winter! First sn

The Rockies are getting ready for winter! First snowflakes ❄️ felt while hiking Ptarmigan Cirque. Stunner of a hike - Steep but quick uphill. Then opens up this view. One of our favourites. 🏔️🏔️🏔️🏔️🏔️

Fall is in the air 🍁🍂 But wow, we had a bea

Fall is in the air 🍁🍂

But wow, we had a beautiful summer! Travel, adventure, fun, family and friends. 💙

Here’s a few of our favourite views from the summer of 2023. 🗺️

📍Sechelt, BC
📍Gibsons, BC
📍Sunshine Coast,BC
📍Nelson, BC
📍Cannon Beach, Oregon

We are here to walk our clients through each stage

We are here to walk our clients through each stage of the mortgage process, including documents and forms. 📝

Having paperwork to take care of can seem overwhelming, but it doesn't have to be! Let us help you get organized and make it easier on yourself. Being prepared is the first step, so make sure you check out our tips for taking care of your paperwork details.

I’m a bit of a paperwork and details nerd amd have created systems to assist with all documents. So we promise, we can make this part easier!

🗂️ Income documents - a paystub, a letter of employment and T4‘s, or if you’re self-employed there are a few more documents - T1 Generals, Notice of Assessment and possibly business financials.

📥 Real estate documents - an offer to purchase, a MLS listing, waivers for conditions, condo documents and a home inspection. Your realtor will assist. An organized, efficient realtor is the golden ticket to an easy real estate transaction.

🗃️ Down payment documents - bank or investment accounts, a gift letter and gifted funds deposit, the sale of a vehicle or even an inheritance - all require documents to verify the source of downpayment funds.

📑 Forms - we use electronic signing for all forms - quick, easy and efficient. 🙌🏻

#TakeCharge #BePrepared #elevationmortgage #weareheretohelp

🌟✨ When a customer gives us the highest prais

🌟✨ When a customer gives us the highest praise, our hearts soar! 🙌🤍Communication, support, frequent updates and lots of real talk about timelines, expectations, future plans and budgets.

We're over the moon to share this feedback. It's moments like these that remind us why we love what we do. 💖

Thank you for your continuous support, we couldn't do it without our clients and our incredible realtor partners. Thanks for putting your trust in us! Andy & Julie 🌟✨

#thankyou #grateful #wehavethebestclients #youmadeourday #makingmortgageseasy #mortgagemagic #elevationmortgage

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DLC ELEVATION MORTGAGE

julie@elevationmortgage.ca
Julie: 403.828.4832

andy@elevationmortgage.ca
Andy: 403.828.8832

elevationmortgageyyc

Thanks MCAP! Beautiful party, so lovely to see you

Thanks MCAP! Beautiful party, so lovely to see you all! Grateful for your partnership. 🙏🏻 Always ahead of the curve in supporting your mortgage brokers. And a visit with Brenda Shaughnessy! Thanks for making the trip Brenda! 💙 @unmarketing great to meet you both! Loved what you had to say! Excited for your residency! 🙌🏻🙌🏻

Up to… trouble! 💙😂🙏🏻☺️

Up to… trouble! 💙😂🙏🏻☺️

Vacation smiles! 💙 Much needed rest, relaxation

Vacation smiles! 💙 Much needed rest, relaxation and family. 🏖️🦩🌺

Sometimes you just really need to take a break and chill out. ☺️🙏🏻

We are in the same country but not the same coast - missing the DLCG Mortgage Group @dlcgmortgage conference. We had so hoped to be there! 😕 next year for sure! 😘

The best of the best, 💙 @garymauris reaches out and checks in. 🙏🏻 As always supporting family and health first. Can’t think of anyone I’ve learned more from 🤓! Thanks for the kind words! @eddy__dlc touching base. You guys rock!

Have a blast everyone! Someone please give out some hugs for me. 🤗 Rich Spence, Dustan Woodhouse, Heather Cermak, Dong Lee, Stephanie Dohring 😘, and the entire incredible head office gang. Hopefully Dave Teixeira is in charge of the music. 🎸 Enjoy! See you all next year! #dlcg #dlcinspire #dlc2023

Hi! 👋🏻 Happy Thursday… it’s been a minut

Hi! 👋🏻 Happy Thursday… it’s been a minute since we said hello and since had a little break! Grateful for the support and we feel so lucky to live an integrated life - work, family, fun, travel can all fit in every week. 🙌🏻

Calling a snow day tomorrow! Friday fun ❄️☃️🧣🧦 Settled in @mountengadine. So far, this year was a whirlwind of activity in the housing and mortgage market. Thanks to our incredible referral partners and clients we provided a LOT of mortgage pre-approvals! 👩🏼‍💻👨🏻‍💻💵 🙌🏻 Some of our clients are finding the right home, some continue the search. Rates are stable. Lots of out of province interest in our housing market. Yes, Alberta is as pretty, fun and full of adventure as our photos! 🏔️🏔️🏔️

Tomorrow - a snow shoe, hiking Mount Rummel, cozy fires, delicious food and drink @mountengadine and cross country skiing at Mount Shark Saturday! 🤩

#alberta #rockymountains #kananaskis #travelalberta #movingwest #workplayrestrepeat #yyc #yycmortgages #yycmortgagebroker #yycrealestate

Instagram post 17957820629499673

Instagram post 17957820629499673

Merry Christmas! ❤️🎄Sending love amd light

Merry Christmas! ❤️🎄Sending love amd light to all of our friends, family and our truly incredible work crew (@realmortgs , @mansbridgemortgage , @hughbullenmortgages - simply the best 🤩🤩🤩) and industry partners! You make our business run so smoothly! We are so grateful to our incredible clients and those who refer our way! 🥰😘❤️ Thank you! #christmas #2022 #readyfor2023

We are on the count down now! Hoping you are all e

We are on the count down now! Hoping you are all excited for Christmas 🎅🏼⛄️🎄We wanted to share some of our favourite Christmas memories! So many incredible Christmas adventures across Alberta, family outings, great times with friends and many fun photos! Memories are made during the holidays. ❤️💃🎁Santa and Mrs. Claus popped by our office for a visit and some good cheer back in 2016🎅🏼🤶🏻. #cutecouple #goals #goodmemories❤️ #officeparty #christmas #2016 #elevationmortgage

The Prime rate has risen by another .50%. For the

The Prime rate has risen by another .50%. For the first time in 15 years, fixed rates are now lower than variable rates across the board. The borrowing costs for variable rate mortgage and lines of credit will rise. Not the news any of us wanted, but the new reality is that inflation is severely impacting the Prime lending rate and is not slowing quickly enough.

Thoughts on the news from Sherry Cooper, DLC Chief Economist - "The Bank of Canada hikes the Prime rate by 50 bps.... The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 4.25% and signalled that the Council would "consider whether the policy interest rate needs to rise further to bring supply and demand back into balance and return inflation to target.

This is more dovish language than in earlier actions where they asserted that rates would need to rise further. Some have interpreted this new press release to imply that the Bank of Canada will now pause or pivot. Expect there will be additional rate hikes next year, but they will be more measured and not on every decision date. The BoC may refrain from dropping Prime until 2024.

Three-month rates of change in core inflation have come down, an early indicator that price pressures may be losing momentum. However, inflation is still too high, and short-term inflation expectations remain elevated."

Bottom line: This will likely be the last oversized rate hike this cycle. The Governing Council next meets on January 25. Whether they raise rates will be data-dependent. If they do, it will likely be by 25 bps. Even if they pause at that meeting, it does not rule out additional moves later in the year if excess demand persists. I expect further monetary tightening, the continued bear market in equities, and a further correction in house prices.

#yyc #yycmortgage #yycmortgagebroker #yycre #yycrealestate #yycnews #mortgagerates #anotherincrease

The end of each year is a great time to start to p

The end of each year is a great time to start to plan for next year’s budget. ✨🎄💸

That may be buying your first home, your dream home or cottage or figuring out how to manage debts and pay down your mortgage faster. There are many ways to tackle your mortgage or reduce consumer debt with a mortgage refinance. 🏦

Our advice begins with a thorough mortgage pre-approval. Did you know that we provide pre-approvals for first time home buyers but also for home buyers selling a home and buying, downsizing, or planning for a rental property or cottage? We also talk to many clients about buying a home for family - a child going off to university or aging parents. 📚 Budgets are great tool for all ages and all financial decisions. 🤓

So if you want to talk through options, run the numbers and create a plan we are here to help! 👋🏻

Thinking about buying your first home? Start by ge

Thinking about buying your first home? Start by getting pre-approved!

By a human, not an online app. Mortgage pre-approvals should take up to one hour (60 minutes, not 60 seconds). We will collect details on employment, savings, debts, down payment, your credit score, and the range of homes you are interested in. 😊

A pre-approval tells you your mortgage maximum (the highest approvable mortgage amount), provides example payments, and explains interest rates, fine print, and all the options that a great mortgage should have (things like pre-payments to principle). Now is the time, plan ahead and let’s build your homeownership budget together. 🏡

#yyc #yycmortgage #yycmortgagebroker #yycre#yychomes #yychomebuyers

What a great conference! @toddduncanofficial We ca

What a great conference! @toddduncanofficial We can’t wait to implement all the new ideas to better serve our incredible referral partners, lenders and clients!

Instagram post 17934236792333048

Instagram post 17934236792333048

A little obsessed. 🤷🏼‍♀️ Yes! We love

A little obsessed. 🤷🏼‍♀️ Yes! We love our work. Our gratitude to our clients and referral partners is immense. Our website is one click away - to starting your mortgage pre-approval! Link in our bio. Just a few minutes will save you a lot of time, effort and money. 💰

PSA 🚨 When you are buying a new home really, r

PSA 🚨

When you are buying a new home really, really consider that during the three weeks before the possession date it’s best to be at home, not travelling OR planning ahead to sign with your lawyer in advance of any travel plans. Remember that signing in advance requires every stage - the financing condition period, providing your income, downpayment and property documents and signing forms to be completed in advance. 🤷🏼‍♀️

#elevationmortgage #yyc #yycmortgages #yycrealestate

Instagram post 17935982528442162

Instagram post 17935982528442162

Let’s get real… rising interest rates are putt

Let’s get real… rising interest rates are putting pressure on the budgets of many! It’s a very good time to review spending, set up and stick to a monthly budget, and reduce credit card and line of credit balances! Don’t avoid the tough budget conversations. 🫣

Our clients were all approved at the federal government qualifying interest rate - at least 2% higher than the actual rate they received. 👍🏻 Rising rates were factored into their mortgage approvals.

For variable rate mortgage holders - don’t lock into a fixed rate without a robust conversation around the reasons and possible outcome. Five years is a very long time. Variable rates are like waves. 🌊 They are peaking, will flatten and in the future (predicting when isn’t easy 🔮) will decline. It’s not a always going up or always going down situation. 📉📈

We are volitile times - serious inflation, supply chain challenges, war, global oil and gas shortages and rising costs energy costs are all playing a roll in the Bank of Canada’s rate decisions. 🤔

All interest rates are in essence “variable” as most Canadians have five year terms. Every five years the rate will change. To lock into a fixed rate at what may be the peak time of variable rates may not be wise. 🤓 These decisions are highly dependent on your personal situation, employment, budget, cash flow and future plans for the property. 🏠

📲Julie 403.828.4832
💻Julie julie@elevationmortgage.ca

#yyc #yycmortgages #yycmortgagebroker #yycrealestate #elevationmortgage

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