by Jodi | Oct 24, 2019 | First Time Home Buyer, Interest Rates, Mortgage, Mortgage Advice, Mortgage Blog, Mortgage broker, Uncategorized
Tighter mortgage rules and higher mortgage prices, especially in overheated markets like Toronto and Vancouver, have made it difficult for people to buy a home on their own. This can be true even if you have good credit and pay. For example, if your debt to income...
by Jodi | Sep 27, 2019 | First Time Home Buyer, Interest Rates, Mortgage, Mortgage Advice, Mortgage Blog, Mortgage broker, Uncategorized
While you can shop for the lowest mortgage rates in Alberta, that is only one factor to consider when buying a home. Whalen Mortgages wants to provide Red Deer home buyers an overview of the home buying process itself. Step 1: Selecting a Mortgage Provider Red Deer...
by Jodi | Aug 15, 2019 | First Time Home Buyer, Interest Rates, Mortages, Mortgage, Mortgage Advice, Mortgage Blog, Mortgage broker, Uncategorized
Red Deer residents trying to recover from a bad credit event like a bankruptcy or consumer proposal should do everything they can to repair the damage. The question they face is: how? The simplest solution is to open two new credit facilities, using them and paying...
by Jodi | Jul 15, 2019 | First Time Home Buyer, Interest Rates, Mortgage, Mortgage Advice, Mortgage Blog, Mortgage broker, Uncategorized
The Bank of Canada uses a stress test to limit mortgages to those they think will be able to afford the home if interest rates went up or their incomes dropped. The five year benchmark rate used in the mortgage stress test is calculated by the Bank of Canada. It is...
by Jodi | Jul 1, 2019 | First Time Home Buyer, Interest Rates, Mortgage, Mortgage Advice, Mortgage Blog, Mortgage broker, Uncategorized
A client recently approached the team at Red Deer Whalen Mortgages seeking help. “They were our last chance at buying the home we loved”. The big banks had already told her no, she didn’t qualify for that home she had her eye on. She came to us in the hope that we...
by Jodi | May 15, 2019 | First Time Home Buyer, Interest Rates, Mortgage, Mortgage Advice, Mortgage Blog, Mortgage broker, Uncategorized
Conservative Party leader Scheer has promised major changes to Canadian mortgage rules. He shared his vision at a meeting with the Canadian Home Builders’ Association (CHBA). Scheer said that housing affordability was a critical issue across Canada, though it is...
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