KNOW YOUR OPTIONS. All credit profiles considered. Contact us to apply! 1 866 502 4747 x 2.
We arrange mortgage financing for clients with all types of credit profiles- from excellent to poor. For us, Equity is King. Alberta Home Loans has successes where many big banks fail. Purchases, refinances, renewals – Even properties in foreclosure.
1 866 502 4747 x 2
I look forward to hearing from you. 1.866.502.4747 x 2 | 587.437.8437 mobile dave@belmormortgage.com
We arrange the lowest mortgage rates available for both salaried and self-employed people. We also have a reliable Alternative Mortgage Lending program for our clientele with bad credit or looking for debt consolidation. Contact us today to relieve the stress!
Dave Fitzpatrick is a born-and-bred Western Canadian with many years as a mortgage broker and a multitude of lending experience. He joined the successful Belmor Mortgage team of mortgage brokers in March of 2013. He will give you straightforward, blunt, friendly mortgage advice ranging from many aspects of credit and finance – And you will always know where you stand.
You’ve decided that you want to buy some raw land, but what will you do with it once it’s yours? Do you want to raise cattle? Build your dream home? Use it for a retirement investment? Or develop it so you can quit your day job? Before you start the buying process, it’s best to determine […]
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CRA has strong powers to make sure they collect what people owe. They charge penalties and interest on all overdue taxes. They can withhold child tax credits and GST credits until your debt is paid. They can take money from your bank account or your pay (through a garnishee). What’s more, CRA will not willingly […]
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Maintaining good credit – There`s more to it than you think. Read below as you will likely learn something new. The information can apply to anyone – First-time home buyers to existing homeowners looking to refinance. A person`s credit history is stored in a database called a Credit Bureau. Credit Bureaus are privately run companies […]
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‘Debt consolidation’ is the process of combining two or more debts into one. It should result in a single debt payment and lower total interest costs. We have a network of Private Mortgage Lenders who will help you refinance the property and liquidate equity when you are in need. We lend in Alberta – Calgary, Edmonton, […]
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A second mortgage is a home equity loan that allows homeowners to borrow money from the equity in their home, without refinancing their current mortgage. “Equity“ is the difference between the balance of your original mortgage and the value of your home. For instance, if your home is worth $250,000 and your mortgage balance is […]
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Are you thinking about refinancing your mortgage? Early refinancing has become a bit of a trend; not surprisingly though, everyone is looking to save money where they can. Obtaining a new loan with better interest rates for your home could mean saving money on monthly mortgage payments or using the extra money on other projects such as renovations, consolidating […]
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Borrowers who may not fit the rigid restrictions of traditional lending institutions may find that a private mortgage is the best way to secure financing for purchasing a property, refinancing, or consolidation of debts. Chances are the value of your home has increased since you bought it. A home equity loan can get you access […]
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Are you a candidate for bankruptcy? Read below if you are considering it. I would also encourage you to contact me to see if debt consolidation is a possibility – This could result in you, the homeowner, keeping more of your equity than if you filed for bankruptcy protection. All information is kept in confidence. […]
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A vendor take-back (VTB) mortgage is a type of mortgage in which the seller offers to lend funds to the buyer to help facilitate the purchase of the property. The take-back mortgage often represents a secondary lien on the property, as most buyers will have a primary source of funding other than the seller.They make […]
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There are two ways a lender registers a loan when your home is used as the security: as a mortgage charge or as a collateral charge. Mortgage charges, which are registered at the Land Title or Land Registry Office (depending on the province), can be registered, transferred or discharged. Collateral charges are registered under the Personal Property […]
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A Rent to Own (aka Lease to Own) home purchase is a lease combined with an exclusive option to purchase the property within a specified period of time. This is a potential solution for tenants who would not currently qualify for a typical mortgage. Buyers love this because it gives them time to save up for a […]
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What is foreclosure? It is a legal process for a mortgagee (lender) to sell, or take ownership of, a property when the owner defaults on the mortgage. In other words, the homeowner entered into a contractual agreement in order to buy the property but has not been able to meet the promises made under the […]
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We arrange mortgage financing for clients with all types of credit profiles- from excellent to poor. For us, Equity is King. Alberta Home Loans has successes where many big banks fail. Bad credit, debt consolidation, purchases, refinances, renewals – Even properties in foreclosure. We look at residential detached homes, condos, mobile homes on owned land, […]
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Our Alternative Mortgage Lending program helps individuals who have been laid off or terminated, or who are scheduled to be laid off and need assistance to pay the household expenses for a period of time. We work with impacted individuals on a case-by-case basis to find a solution that can provide temporary relief, without adding […]
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With house prices continuing to rise in Canada, a new survey reveals nearly 26 per cent of Albertans plan to use their homes as their primary source of income after they leave the workforce. The 2014 Sun Life Canadian Unretirement Index also found that 17 per cent do not know if their investment in their […]
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Your life as a homeowner will likely include some time in a condo. Condos suit young adults, and retirees who want to downsize. As houses rise in price, more people in between those extremes may opt for condos. Given the strong foundations for condo demand, there are surprisingly few resources available to help people make […]
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Mortgages represent one of most common investments in the world – by banks and institutional lenders. Banks like mortgage investing for the same reasons that you probably will. -Good return on investment. -Relatively lower risk than many alternatives. -Private mortgage investments are also RRSP-eligible. Generally, most private mortgages are considered “equity” mortgages, which basically mean that […]
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An RRSP is a retirement savings plan that you establish, that the CRA registers, and to which you or your spouse or common-law partner contribute. Deductible RRSP contributions can be used to reduce your tax. March 2, 2015 is the deadline for contributing to an RRSP for the 2014 tax year. Any income you earn […]
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Know your options. Beat the Banks. Today`s Lowest Rates Fixed 1-yr 2.29% 2-yr 2.19% 3-yr 2.24% 4-yr 2.54% 5-yr 2.54% 7-yr 3.44% 10-yr 3.84% Variable 3-yr 2.05% 5-yr 2.15% APPLY ONLINE *Rates subject to change without notice. Full Approval depends in credit check, income, other factors. Don`t forget also our Alternative Lending program for the […]
Read MoreIt started with NASDAQ plunge in 2000: Cheap credit is blessing and curse. Bank of Canada’s challenge is how to let interest rates rise safely. (original article here). Western economies are caught in a low interest rate trap that is proving a difficult problem to fix. Rates have been so low for so long, […]
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Over the past couple of years, it has become increasingly difficult for self-employed Canadians to get a mortgage, and the move this past April by the CMHC to limit its insurance coverage to those without income validation will only make things harder. Self-employed borrowers still have access to mortgages with down payments below 20%; they just have […]
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Borrowers who may not fit the rigid restrictions of traditional lending institutions may find that a private mortgage is the best way to secure financing for purchasing a property, refinancing, or consolidation of debts. Chances are the value of your home has increased since you bought it. A home equity loan can get you access […]
Read MoreA RRIF is the logical successor to an RRSP both as a tax shelter and as a continued growth investment. It makes your investment grow tax-free while giving you access to the money saved in your RRSP in the form of retirement income. You may withdraw funds according to your needs, however, a minimum amount […]
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If you are thinking of borrowing from your RRSP to buy a house or condo, here are some rules to know. Maximum withdrawal First-time home buyers in Canada can borrow up to $25,000 of RRSP money tax-free to purchase a home, including shares in a co-op housing corporation. First-time means neither of the spouses or common-law partners […]
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A reverse mortgage is a special loan for homeowners 55 +, that lets them borrow against the value of their home, without having to sell their home. The bank will pay the proceeds of the mortgage to the homeowner as a lump sum or as periodic payments and are not considered taxable income. Interest will accrue at a […]
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Starting Your Home Search ( I highly recommend getting a preapproval before starting your home search. This will help isolate your maximum purchase price, and avoid any surprises. More and more clients are coming to me who were approved for a mortgage in the past either online or by an enthusiastic agent, only to discover […]
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We lend in Alberta – Calgary, Edmonton, Red Deer, Lethbridge, Grand Prairie, Leduc, Olds, Medicine Hat and surrounding areas. We arrange mortgage financing for clients with all types of credit profiles- from excellent to poor. For us, Equity is King. Alberta Home Loans has successes where many big banks fail. Purchases, refinances, renewals – Even properties in […]
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What is a commercial mortgage? Commercial mortgages are mid-term loans made using business or commercial real estate to secure payment. The borrower is generally a company or business as opposed to an individual and the business may be either a partnership, limited company or incorporated. Consequently, assessing credit history is more complicated with this type […]
Read MoreWhen the time has come to refinance or sell your home, you want to make sure the value of your home is appraised accurately. After all, you have maintained it well and want to get top dollar for your property. Appraisal affects pricing. Knowing what appraisers look for will help you understand the process; you […]
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For people who are inexperienced with negotiating, who aren’t sure what the best mortgage product is for them or have a less-than-stellar credit rating, they can save time, money and hassle by using a mortgage broker. A Mortgage Broker is a valuable resource when making home financing decisions. Many customers shopping for a mortgage have chosen […]
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The benchmark rate made headlines in the early part of 2010 when the Government of Canada announced new rules for lending money and qualifying for mortgage loans. These rules were put in place due to perceived volatility in the market, and the government’s desire decrease that amount of volatility. They introduced the benchmark rate (aka, “qualifying rate”). […]
Read MoreLooking to finally purchase a home? Congratulations! A chat with a mortgage professional will help put things in perspective. You might be asked about your plans to start a family, how much you are contributing to your RRSP, what your career goals are, how old your cars are. This conversation will get you thinking about […]
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There are pros and cons to low oil prices. Generally, consumers will benefit from a fall in oil prices. A decrease in oil prices would decrease the transportation cost for people as they would be spending less on fuel. This would essentially mean an increase in the purchasing power of their income which translates into […]
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At least 52,200 British Columbians will be entitled to refund cheques from the Canadian Imperial Bank of Commerce if a recently certified class-action lawsuit succeeds, according to one of the lawyers involved in the case. The representative plaintiff in the case is Victoria resident Erin Sherry, who wanted out of a CIBC mortgage when her […]
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There are generally two ways to get a mortgage in Canada: From a bank, or from a licensed mortgage professional. While a bank only offers the products from their particular institution, licensed mortgage professionals send millions of dollars in mortgage business each year to Canada’s largest banks, credit unions, and trust companies … offering their clients more choice, […]
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The world’s biggest bond fund manager, PIMCO Canada Inc., expects a “cyclical decline” in Canada’s housing market, but says there’s little chance of a meltdown. There has been much media attention on Canada’s housing market lately, with some forecasters calling for “the bubble” to pop in 2014. While we think the housing market in Canada […]
Read MoreThe vast majority of indicators continue to tell a firmly upbeat story about Alberta’s economic strength, as momentum gives no signs of easing, according to the latest RBC Economics Provincial Outlook released today. RBC forecasts that Alberta’s real GDP growth for 2014 will be 3.9 per cent, surpassing last year’s solid estimated pace of 3.7 […]
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A new report released Thursday says Alberta will lead Canada’s construction industry through the next decade, with major new oilsands projects and residential work driving job growth in virtually every year between now and 2023. BuildForce Canada’s 2014-2023 Construction and Maintenance Looking Forward forecast said the pace of expansion has resumed, with construction employment across […]
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The Royal Bank says most of Canada will experience stronger economic growth this year and next, but only Alberta will see the kind of gains that will make a real impact on job creation. The latest quarterly report from Canada’s largest bank predicts the overall economy will expand by 2.4 per cent this year and […]
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Sales in 2013 up 30% and near peak of 2005 Calgary’s new condo market was booming in 2013 with sales up by 30 per cent from the previous year and coming close to the peak of 2005 when prices were a lot less for a property, particularly in inner-city neighbourhoods. A report by the Altus […]
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The flood washed out an average of $208,870 in assessed value for each home damaged by Calgary’s rivers last June, according to the newly released 2014 assessment rolls. (Original article here). The city has begun mailing out annual assessment notices, and the numbers will confirm to homeowners in flood zones what they likely already knew: […]
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Brighter job prospects in Alberta and more challenging ones in the eastern side of the country are altering the country’s population flows. Alberta saw another year of above-average population growth in 2012-13, driven by record levels of net international migration and interprovincial migration, Monday’s preliminary population estimate from Statistics Canada shows. One province’s gains are others’ losses. […]
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Newly sworn-in Finance Minister Joe Oliver sounds worried about a potential new outbreak of the mortgage rate wars. Just one week after Jim Flaherty stepped down, Bank of Montreal is shaking up the mortgage market, aggressively cutting its five-year rate to levels that caused the former finance minister to intervene last year. The bank says it will offer a five-year rate of 2.99 […]
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Canadians can expect to enjoy relatively cheap borrowing costs for some time to come — perhaps years — even after the economy returns to full capacity and the Bank of Canada starts hiking interest rates, BOC Governor Stephen Poloz said Thursday. The central banker told a luncheon in Saskatoon that the economy has room to […]
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Canada Mortgage and Housing Corp. has raised mortgage insurance premiums for the first time since the 1990s, and signalled more hikes could be on the way. Effective May 1st, CMHC Purchase (owner occupied 1 – 4 unit) mortgage insurance premiums will increase by approximately 15%, on average, for all loan-to-value ranges. The increases, which will apply […]
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Calgary’s housing market is quickly heating up again and barring a sudden drop in oil markets, home prices have further to run and home builders will get busier in the year ahead, but a throwback to the frenzied pace of the 2006/07 boom is still a stretch, says new report released by BMO Capital Markets on […]
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4.3% gain predicted for next year CALGARY – The Calgary Real Estate Board is forecasting house prices and sales to continue to grow in the resale market in 2014. On Tuesday, the board released its preliminary forecast, saying prices are expected to rise by 4.3 per cent next year and MLS sales are expected to […]
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Yes, on top of the full-spectrum mortgage lending, I can arrange your lease. But why should you lease equipment instead of buying it or financing it with your credit line or loan? Leasing allows you to save your cash for other things such as inventory, advertising or payroll or investing. When you lease equipment, you […]
Read MorePick up any newspaper today and no one could blame you if you got a little worried about the state of the economy or the fear of a pending market correction in Canadian real estate. What if Greece defaults? What about the Fiscal Cliff in the US? Are Canadians taking on too much debt? Have […]
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House prices remained relatively flat in the first quarter of 2013 compared to a year earlier, with increases across the country averaging between 1.2 per cent and 2.4 per cent, according to a new survey released Thursday. In the first quarter, the national average price of a standard two-storey home increased 2.2 per cent, compared […]
Read MoreThose improvements, announced by the FCAC, were designed to make life easier for people needing to assess the cost of an early refinance or mortgage termination. The first set of enhancements arrived by last September. Among other things, they required banks to develop online educational material about IRD charges and online prepayment charge calculators. The final measures came into […]
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