The Home Buying Process for Fort McMurray Residents

While Whalen Mortgages provides some of the lowest mortgage rates in Fort McMurray, getting a deal on a mortgage is only part of the home buying process. Here’s an overview of the home buying process Fort McMurray residents must follow if they can’t afford to buy the...

read more

Canadian Government Lowers Qualifying Rate for Stress Tests

The Bank of Canada rolled out mortgage stress tests several years ago in a bid to ensure people could afford their homes. These stress tests require that potential home buyers could make their home payments if their income fell or interest rates went up. The interest...

read more

An Introduction to the First Time Home Buyer Initiative

The 2019 budget includes a novel proposal – the shared equity mortgage. The shared equity mortgage or SEM would be backed by the CMHC as part of the First Time Home Buyer Initiative. This isn’t a brand new concept, since it has been tried in the U.S., Australia and...

read more

Let’s talk about different insurances and what they do?

Mortgage Default insurance is mandatory with less than 20% down payment. You are required to pay for mortgage default insurance if you have less than 20% down payment, this protects the banks if you were to foreclose on the property. In Canada we have 3 insurers CMHC...

read more

Past Credit Issues stopping you from getting a mortgage?

Let’s talk about different credit issues and what they mean when applying for a mortgage.    Bankruptcy: If you have ever had a situation in life which all of us experience at one time or another bankruptcy may have been your only option. What does this mean when...

read more

Why You Still Need a Fort McMurray Mortgage Broker  

Websites allowing you to compare interest rates offered by lenders and get online quotes by your local bank haven’t eliminated the need for a Fort McMurray mortgage broker.  They Give You Options   Mortgage brokers know all of the options on the market. They can find...

read more

Holiday Tips for Fort McMurray Residents

The holidays seem to be stressful for everyone. Planning for end of the year celebrations and closing the books at work may add to an already hectic schedule. Here are a few holiday tips for Fort McMurray residents to make things a little less stressful.   Take time...

read more