About Jamie Walsh Your Calgary Mortgage Specialist
As a mortgage broker in Calgary, I am passionate about providing personalized and efficient solutions to meet your mortgage needs. Whether you're interested in mortgage rates in Calgary, looking for the best mortgage rates in Calgary Alberta, or seeking guidance on mortgage interest rates in Calgary, I strive to make the entire process smooth and stress-free for my clients.
Whether you're renewing your mortgage, a first-time homebuyer, a seasoned investor, or considering a refinance or restructure, I am committed to finding the ideal solution for you. With access to a wide network of mortgage companies in Calgary and a dedication to exceptional service, I guide you through every step, from our initial discovery call to closing. I prioritize setting clear expectations, communication, and integrity to ensure a positive experience.
Let me be your trusted Calgary mortgage broker, providing insight on current mortgage rates and helping you navigate the complexities of securing a mortgage. Contact me today to discuss your mortgage goals and take the first step towards achieving your dreams.
Reasons to Work With Me
I understand how valuable your time is, and I’m here to make the mortgage process simple and stress-free. Let me handle the complexities so you can focus on what truly matters—enjoying life without the burden of financial details.
Every lender has its own products, promotions, and terms, and every client has unique goals and situations. As a broker, I’m dedicated to educating you on the different rates and contractual differences between lenders. Together, we’ll explore your options so you can make an informed decision about which lender aligns with your needs.
What sets me apart is that I’m compensated by a finder’s fee from the lenders, not by you. This means it doesn’t matter to me who you ultimately choose; my compensation will be the same percentage of the amount funded, regardless of the lender. You can rest assured that your choice will be based on what’s “right” for you, not what’s “right” for me.
When we work together, you’ll benefit from my expertise and commitment to finding the perfect mortgage fit for you. Even if the process feels overwhelming, I’m dedicated to ensuring it is as smooth and efficient as possible, always keeping your best interests at the forefront of every decision.
Frequently Asked Questions When it Comes to a Mortgage Broker
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Why is it best to work with a mortgage broker?Working with a mortgage broker can streamline the mortgage process and potentially save you time and money. Brokers can shop around with many different lenders, ensuring the best solution for your needs.
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Is there a cost to use a mortgage broker?No, there are no additional costs to use a mortgage broker. Brokers are paid by the lender.
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How can a mortgage broker negotiate better rates and terms during mortgage renewal?By working with a mortgage broker, they will shop around for the best rates and compare offers from multiple lenders. You can also be prepared to negotiate with your current lender for better terms. We’re always looking out for our clients, even if it means staying with your existing lender at renewal.
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Is it possible to switch lenders when renewing my mortgage?Yes, you can switch lenders during mortgage renewal to obtain better rates or terms.
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How is the interest rate determined during the mortgage renewal?The interest rate is determined by the current prime rate, current market conditions, your repayment history, and the lender’s rates at the time. We recommend asking a broker to shop around for you to obtain the best rate and terms for your next mortgage.
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What documents do I need for the mortgage transfer process?You’ll need identification, proof of income, a recent pay stub, a letter of employment, and details about your current mortgage and property. In most cases, a transfer takes around two total hours of work, with the goal of saving you thousands compared to what your existing lender is offering.
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When should I start my mortgage renewal process?You should plan to start the renewal process 4-6 months before the end of your current term by exploring your options to secure the best rate. Most lenders and banks hold a rate for 120 days.
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Should I consider refinancing instead of renewing my mortgage?You should consider refinancing if you want to access any of the equity in your home, consolidate debt, or lower your payments by changing your amortization.
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How do I qualify for a mortgage in Canada?Lenders look at three criteria for borrowers trying to obtain a mortgage in Canada: 1) Income to debt ratios 2) Down payment 3) Credit. A good mortgage broker can obtain a mortgage when even two of the three criteria are average to above average.
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How does the stress test affect my mortgage approval in Canada?The stress test ensures you can afford payments at a higher interest rate, should interest rates rise, reducing the risk of default. The stress test rate is the greater of your rate +2% or the Bank of Canada benchmark rate + 2%.
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How much of a down payment is required to buy a home in Canada?The minimum down payment is 5% for homes under $500,000. For homes over $500,000 but less than $1,000,000, the minimum down payment is 5% of the first $500,000 and 10% of the rest between $500,000 and $999,999. For purchase prices $1,000,000 and above, the minimum down payment is at least 20%.
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What are the current mortgage rates in Canada?Mortgage rates vary by lender and market conditions. Generally, fixed rates are impacted by the global bond market and variable rates are influenced by the Bank of Canada policy interest rate.
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What is the difference between fixed and variable mortgage rates in Canada?Fixed rates remain constant throughout the term, while variable rates fluctuate based on the Bank of Canada prime lending rate.
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Can I pay off my mortgage early during the renewal term?Yes, you can pay off your mortgage early, but you may incur prepayment penalties depending on your mortgage terms. Lenders vary on how they calculate this penalty.