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Interest Rates are on the Rise, Lock-in Now with a Quick Possession Home!
What does the Bank of Canada's recent interest rate hike mean for prospective home buyers?
Spring Fever Has Hit Calgary’s Housing Market
Excel Homes has enjoyed a busy spring market this year. Over the past few months, we’ve opened sales centres and show homes in three of Calgary, Airdrie and Cochrane’s most desirable new communities. After a whirlwind of activity, we’re excited to share the highlights from each of our grand opening events.
Understanding Your Mortgage
Preferred Rates
Congratulations! After weeks – or perhaps months – of searching you’ve found the perfect home. You’re already envisioning your life here. Sunday night dinners, playtime in the backyard, creating years of memories. Now, the next step in making your dream home a reality is to secure financing.
Ready to Move? Now's the Time!
Here’s a tip. If you’re in the market to purchase a new home, but aren’t sure if now’s the time to buy, it is! Here’s why:
According to the Calgary Mortgage & Housing Corporation (CMHC), the New Housing Price Index (NHPI) is projected to increase by 4.5% in 215. On the price of an average $4, home, that’s an $18, increase!
The Pre-Construction Process
Buying a new home can feel like quite the undertaking, as there are many factors to consider. Budget, square footage and number of bedrooms are usually the first items on the table. Then you’ll think beyond the home – commuting times, access to transit and available community and neighbourhood amenities. And of course, if you have children, school districts come in to play. Once you have completed the research and found the right home for your family it’s time to rest easy and let your builder to do the heavy lifting.
Calgary's Hot Real Estate Market
Record-breaking migration, continued job creation, rising incomes and historically low interest rates continue to fuel greater Calgary’s hot real estate market.
The Benefits of Buying a New Build
To buy old or new? It’s one of the most common dilemmas that homeowners face when deciding to buy a house. Some people prefer to know that they are the first ones that have lived in the space while others like the unique charm that an older house may possess. So how do you know if a brand new build is right for you? Well, here are some added perks to owning a new house that older homes just don’t offer.
Amortization and How It Affects Your Mortgage
As a new home buyer (or if you’re new to Canada), the various terms related to a mortgage can be confusing. This week we explore amortization and how it affects what your mortgage really costs.
To begin, the length of your amortization period is the number of years you will need to pay the full balance of your mortgage. It’s an important decision because it affects how much interest you pay over the life of your mortgage.
Fixed vs Variable: Finding the Right Mortgage For You
As a home-buyer, first timer or not, deciding on the best mortgage for you is a big part of the process! We know it can get a little confusing or overwhelming at times, so here's an easy definition of the 2 main mortgage types out there.
Qualifying for a Mortgage
If you're in the market for your first home, you might be wondering what factors lenders looks at when determining if you qualify for a mortgage. See our quick blog here to learn more about this process.
It’s been said that most lenders look at 5 factors when determining whether you qualify for a mortgage. These include the following: