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Sep 23

Ready to buy a home?

  • Buying your first home, Mortgage News, Pre-Approvals are important

First things first: get pre-approved

We are here to help. And did you know that the pre-approval process takes less than one hour?

First let’s start a mortgage pre-approval. It’s important to know how your income, credit score, and amount of down payment impact the purchase price of the home you can afford. We will provide a list of required documents as well.

We will work together with you and discuss mortgage options and the type of interest rate – fixed or variable and we will source the right interest rate for your financial and personal situation. The mortgage application will be submitted to a lender along with the supporting documents.

Working with a skilled and experienced realtor

We can also connect you with a skilled and experienced realtor. Did you know that as a home buyer you do not pay any real estate fees? None! The seller of the home pays the realty fees. This is the biggest purchase of your life – it’s the time to work with an expert!

With the help of a realtor and your mortgage pre-approval you will be ready to find the right home. When you find that perfect home you will be ready to write an offer to purchase, it’s important to include conditions like financing and a home inspection – once accepted by the home seller – we will get to work on your mortgage approval.

When the mortgage process is complete we will let you know that you are ready to release the financing condition, your realtor will work with you to release the home inspection condition and you will be able to celebrate buying your first home.

Meeting with a real estate lawyer

The next step will be meeting with a real estate lawyer to sign the mortgage and land titles documents. As the possession date nears your lawyer will work with the seller’s lawyer to complete the transfer of ownership and on the possession date your realtor will provide you with the keys to your new home!

It’s important to know that when you purchase a home you must be available to meet with the lawyer in person. So plan ahead in terms of vacations or working gout out of town. You will need to have two valid pieces of ID as well. So make sure your passport or driver’s licence is up to date and valid.

Our preferred partners – finding a great painter, handyman, or moving company

After many years of providing mortgage services we have developed a list of preferred partners and would be happy to provide a referral – some of the best in their industries – including a real estate lawyer, home inspector, renovation companies, painters, interior designers, and moving companies.

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    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! 🤩

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      DLC ELEVATION MORTGAGE

      julie@elevationmortgage.ca
      Julie: 403.828.4832

      andy@elevationmortgage.ca
      Andy: 403.828.8832

      elevationmortgageyyc

      Elevation Mortgage
      Needed a little zen today 🙏🏻. Found this bea Needed a little zen today 🙏🏻. Found this beauty. 🐸 Bring on spring 🌺☀️🕶️ 🙌🏻 She needs a place in the garden. Love her spirit. 💙 Face to the sun, so zen, happy, grateful.
      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!
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      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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