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Conventional Mortgage VS High Ratio Mortgage - Source Mortgage - Mortgage Experts Alberta
Conventional Mortgage VS High Ratio Mortgage

Conventional mortgages are those where the purchaser pays 20% down and borrows no more than 80% on a home. High ratio mortgages are those where the purchaser pays a lower downpayment and consequently borrows over 80% on their chosen home. As the risk of default is higher when it comes to high ratio mortgages, mortgage [...]

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By Lori on July 1, 2019
in Mortgage Broker Services
What Do Mortgage Brokers Bring to the Table? - Source Mortgage - Mortgage Experts Calgary
What Do Mortgage Brokers Bring to the Table?

If you are just beginning your home-buying journey, you may be wondering if working with a mortgage broker would be helpful. You’ve heard that brokers help to consolidate your search by presenting offers from a variety of lenders. For many people, that is reason enough to talk with one of our mortgage experts. However, there [...]

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By Lori on June 15, 2019
in Mortgage Broker Services
The Difference Between Using a Banker vs a Mortgage Broker - Source Mortgage Centre - Mortgage Brokers Alberta
The Difference Between Using a Banker vs a Mortgage Broker

There are many ways to secure a mortgage out there, starting by who you decide to enlist on your team. At the beginning of your mortgage journey, you will need to choose between using a banker and a mortgage broker. Here are some key differences between the two: Application Process The application process is probably [...]

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By Lori on June 1, 2019
in Mortgage Broker Services
Mortgage Closing Costs to Keep in Mind - Source Mortgage - Mortgage Experts Alberta
Mortgage Closing Costs to Keep in Mind

Purchasing your own home is such an incredibly liberating experience that it can be easy to forget all of the underlying costs not included in your mortgage contract. Don’t be caught unawares by hidden costs. Here are some expenses you’ll want to consider in your home buying budget. Home Inspection While not mandatory, home inspections [...]

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By Lori on May 15, 2019
in Mortgage Broker Services
Explaining Mortgage Payout Penalties - Source Mortgage - Mortgage Experts Alberta
Explaining Mortgage Payout Penalties

Purchasing a home comes with a lot of rules. While most people prefer mortgage rules to those that come with renting a home, homeowners should still be aware of what they can and cannot do. When it comes to prepayment, you’ll definitely want to read through the fine print. Prepayment: When Penalties Apply Your lender [...]

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By Lori on May 10, 2019
in Mortgage Broker Services
Simplifying the Mortgage Process with Velocity - Source Mortgage - Mortgage Brokers Alberta
Simplifying the Mortgage Process with Velocity

It’s no surprise that the mortgage process has the potential to get very complicated. With all of the paperwork and lenders and moving parts involved, it’s important to have a way to keep everything organized. If you’ve read our page on Velocity, then you know that we are using this technology to transform your mortgage [...]

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By Lori on April 1, 2019
in Mortgage Broker Services
Advantages of Going to a Broker Before a Bank - Source Mortgage - Mortgage Experts Alberta
Advantages of Going to a Broker Before a Bank

When it comes to purchasing a home, there are a lot of players in the game. From appraisers to lenders, real estate agents to lawyers, it can seem a little crowded. For many new homeowners, it can be overwhelming, so why add a mortgage broker to the mix? Will it really make that much of [...]

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By Lori on March 15, 2019
in Mortgage Broker Services
Tricks for Budgeting Your Monthly Mortgage Payments - Source Mortgage - Mortgage Experts Alberta
Tricks for Budgeting Your Monthly Mortgage Payments

Saving up to purchase a home is no walk in the park, but don’t forget that you’ll have to keep on top of your monthly mortgage payments long after your down payment has been made. In Canada, you never truly miss a mortgage payment, you’re just “late”. Your records will show every month after that [...]

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By Lori on February 1, 2019
in Mortgage Broker Services
Standard vs Flex Down Payments - Source Mortgage - Mortgage Brokers Alberta
Standard vs Flex Down Payments

Most homebuyers are familiar with the standard down payment on a house. All this means is that they have to save up at least 5% of the purchase price well before buying the home. For some, saving up that much money can be a daunting task, so they choose to forgo purchasing and go on [...]

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By Lori on January 1, 2019
in Mortgage Broker Services
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Mortgage Rates: Where do they come from?

While homebuyers are out to find a home, lenders are out to make a profit. After all, theirs is a very important business. Lenders earn their living by charging interest on the money you borrow to make big purchases. While this arrangement is fairly common knowledge, many folks still find it a mystery as to [...]

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By Lori on December 1, 2018
in Mortgage Broker Services
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Heartwarming Stories

Source was absolutely great to work with - went above and beyond to help us get everything done when buying our new home. Highly recommended!! Chad and Jenelle Richards Jan 09 2013

Chad and Jenelle Richards
Added January 23rd 2013

Interest Rates

6mth Term 3.95%
1yr Term 2.99%
2yr Term 2.69%
3yr Term 2.99%
4yr Term 3.39%
5yr Term 3.04%
V.R.M. Prime-.65 or 2.35%

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