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Moving to Edmonton? Top Tips for Settling In and Shopping for a Mortgage
December 18, 2024
Are you thinking of making the move to Edmonton, Alberta? Whether you’re drawn by its affordable cost of living, vibrant arts scene, or proximity to nature, Edmonton is a fantastic place to call home. But let’s face it—moving to a new city comes with its challenges, and securing a mortgage can feel like a daunting part of the process.
As a local Edmonton mortgage broker, I’ve worked with countless new residents to help them find their footing—and the right mortgage. Here are a few practical tips to make your move smoother and ensure you get the best deal on your new home.
1. Get to Know Edmonton’s Neighborhoods
Edmonton is a city of neighborhoods, each with its own unique charm. Whether you’re into the trendy vibe of Old Strathcona, the family-friendly feel of Terwillegar, or the quieter, suburban pace of St. Albert, there’s a spot for everyone.
When choosing where to live, think about your priorities. Do you want to be close to schools? Work? Public transit? Spend some time exploring the city before you commit to a home. Knowing where you want to live will make your house-hunting process much easier—and help your mortgage broker find you a deal that fits your budget.
2. Understand Edmonton’s Real Estate Market
The real estate market in Edmonton is known for being more affordable than other major Canadian cities, but that doesn’t mean you shouldn’t be strategic.
In 2024, home prices in Edmonton are still relatively stable compared to places like Toronto or Vancouver. But as always, timing is everything. Working with a mortgage broker gives you an advantage because we keep a close eye on the market and can guide you through fluctuations to get the best possible rate.
3. Partner with a Mortgage Broker Early
Speaking of mortgage brokers (wink, wink), partnering with one early in the process is a game-changer.
Here’s why: A good mortgage broker works for you, not the banks. That means I shop around, compare rates, and help you navigate the fine print to find a mortgage that fits your financial goals. I also understand the unique challenges that come with moving to Edmonton, whether you’re a first-time homebuyer or relocating from another city.
Plus, mortgage brokers often have access to deals and rates that aren’t advertised to the public. So, before you start applying for loans or making offers, let’s chat—I can save you time, stress, and money.
4. Consider Pre-Approval
If you want to hit the ground running once you find your dream home, getting pre-approved for a mortgage is a must. A pre-approval not only gives you a clear picture of your budget but also shows sellers that you’re serious.
As a mortgage broker in Edmonton, I can walk you through the pre-approval process, making sure your application is strong and setting you up for success.
5. Plan for Edmonton’s Winters (and Budget Accordingly!)
It’s no secret—Edmonton winters can be intense. When you’re shopping for a home, consider how winter will impact your living expenses.
For example, homes with energy-efficient features like triple-pane windows or upgraded insulation can save you big on heating costs. And don’t forget about the little things, like budgeting for snow removal or winterizing your car.
Let’s Make Your Move to Edmonton a Breeze!
Moving to a new city is exciting, but it’s even better when you have the right support. Whether you’re still figuring out which neighborhood suits you best or you’re ready to shop for a mortgage, I’m here to help.
Let’s connect and chat about how we can make your Edmonton home-buying journey as smooth (and stress-free) as possible.
Ready to get started? Contact me today to find the right mortgage for your new Edmonton home!
5 Essential Steps for First-Time Homebuyers in Canada for 2024
December 18, 2024
Buying your first home in Canada is an exciting milestone, but as we enter 2024, there are unique challenges and opportunities to consider. Whether you’re ready to dive into house hunting or just beginning to think about buying a home, there are important steps you can take to set yourself up for success. Here’s a guide to help first-time homebuyers make informed decisions and be fully prepared for the journey ahead.
1. Understand Your Financial Situation
Before you even start looking at properties, take a close look at your finances. Buying a home is a major financial commitment, and understanding where you stand financially will help you avoid stress and make the process smoother.
• Evaluate Your Income and Savings: Look at your current income, any additional income streams, and your savings. Aim to save for a down payment and additional closing costs, which can add up to 1-2% of the purchase price.
• Check Your Credit Score: A healthy credit score is key to getting a favorable mortgage rate. Request a free credit report to know your current standing and take steps to improve your score if necessary. Pay down debt and avoid opening new lines of credit.
• Determine Your Budget: Use online mortgage calculators to get an idea of how much you can afford. Be realistic and ensure that the monthly payments, along with other homeownership costs (like property taxes, insurance, and utilities), align with your monthly budget.
2. Explore First-Time Homebuyer Incentives
Canada offers several incentives to help first-time homebuyers get into the market. Take the time to explore these options, as they can make a significant difference in your financial outlook.
• Home Buyers’ Plan (HBP): This allows you to withdraw up to $35,000 from your RRSP tax-free to use toward your down payment, provided you repay it within 15 years.
• First-Time Home Buyers’ Tax Credit: You may be eligible for a $10,000 non-refundable tax credit, which can provide a tax break of up to $1,500.
• First Home Savings Account (FHSA): The FHSA is a new savings account introduced to help first-time buyers. Contributions are tax-deductible, and withdrawals for purchasing a home are tax-free, making it a powerful tool for saving your down payment.
• Shared Equity Programs: The First-Time Home Buyer Incentive is a shared equity program that helps reduce your monthly mortgage payments by letting you borrow a portion of your home’s purchase price from the government.
3. Get Pre-Approved for a Mortgage
In a competitive housing market, a mortgage pre-approval is essential. Not only does it give you an idea of how much you can borrow, but it also shows sellers you’re a serious buyer.
• Shop Around: Interest rates vary from lender to lender, so don’t settle for the first offer. Check with various banks, credit unions, and mortgage brokers to find the best rate and terms.
• Understand Mortgage Terms and Types: Familiarize yourself with different mortgage terms and options, such as fixed vs. variable rates, amortization periods, and payment schedules. In today’s market, understanding whether a fixed or variable rate is better suited for your financial situation can save you thousands over the life of your loan.
• Get Documentation in Order: For pre-approval, lenders typically need proof of income, employment, assets, and debts. Gather all necessary documents to make the process faster.
4. Research and Choose a Location Wisely
Location is one of the most important factors in real estate. The right location not only suits your lifestyle but can also affect the future value of your investment.
• Consider Your Lifestyle Needs: Do you need to be close to work, schools, or public transportation? Is a suburban area better suited to your lifestyle than a bustling urban center?
• Look into Future Growth: Areas with planned developments, like new transit routes or commercial projects, can increase property values over time. Research neighborhoods that have growth potential to maximize your investment.
• Understand Local Market Trends: Real estate markets vary greatly across Canada. Prices may be rising in some areas while stabilizing or falling in others. Pay attention to local market trends, as they can influence your buying decision and help you avoid overpaying.
5. Work with a Knowledgeable Real Estate Professional
The homebuying process is complex, and having an experienced real estate agent in your corner can make all the difference. A good agent can help you navigate the market, find properties that match your criteria, and negotiate on your behalf.
• Find an Agent with Local Expertise: An agent who understands the local market trends and neighborhood specifics can provide valuable insights.
• Ask for Referrals and Check Reviews: Referrals from friends or family who had a good experience can be a great way to find a reliable agent. Additionally, check online reviews to ensure they have a solid reputation.
• Ensure They’re a Good Fit: Schedule an initial meeting to ensure your agent understands your needs, budget, and long-term goals. Having someone who listens and communicates well can make the process far less stressful.
Final Thoughts
Becoming a homeowner is a big decision, and being prepared is key to success. By following these five steps—understanding your finances, exploring incentives, securing pre-approval, choosing a location, and working with the right real estate professional—you can enter the 2024 market with confidence. With some careful planning and informed choices, you’ll soon be on your way to finding the perfect home for your needs and lifestyle.
Happy house hunting!
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Submitting Mortgage Documents - tips and tricks
September 18, 2024
INTRODUCTION
One of the most overwhelming parts of the whole mortgage approval process can be summed up in one word:
DOCUMENTS
Gathering, uploading, sending and making sure all the proper information is included can be very challenging for many. As a mortgage assistant, it is my job to make this process as easy as possible for you. Today I will guide you through the process of signing documents digitally, scanning documents without a scanner, and how to upload your documents. Not everyone has experience with these processes, so I hope this article helps make this process much easier for you.
DIGITAL SIGNING
Digital signing can feel daunting for many people, but take comfort: it truly can be a seamless process. You can sign your document online with many options available, such as Adobe Acrobat. Most options provide a free service to assist you in signing documents with your mouse or trackpad on your laptop or home computer.
Alternatively, if you have an smartphone, you can digitally sign the forms directly on your phone. Some choose to download apps that specialize in document signing, such as DocuSign, eSign, or Adobe Fill & Sign just to name a few, however, if you have an iPhone, you can sign directly onto any PDF using the Markup tool. Unfortunately, Android does not offer a built-in PDF signing feature (see Scanning Documents section for how to get markup functionality on your Android smartphone).
USING MARKUP ON YOUR IPHONE:
1: open the attachment in your mail app
2: tap the share icon and select the ‘Markup’ option.
3: press the ‘ADD’ icon. Two options will pop up:
Add Text Form Box - used for adding info such as initials, the date or your name. Tap done
Add Signature - used to sign the document using your finger on the touchscreen. Tap done
4: Place the signature and other information you’ve added to the correct places. Tap to resize and then use your finger to drag to the appropriate size.
5: Tap Done again. Your edited document will save to your phone.
SCANNING DOCUMENTS
We are in a wonderful age of technological ease. If you do not have access to a scanner, have no fear! There’s an app for that! We highly recommend a FREE app called Adobe Scan. It allows you to use your smartphone camera to capture an image of the documents you wish to "scan". You can crop the image as needed, adjust brightness and format as a PDF. Here are the links for the respective app stores for both iPhone and Android*.
*This will provide a Markup function on android phones, which will enable you to digitally sign your pdfs directly on your phone.
Please note that there is always the option to take a high quality photo and send it in as well. I can reformat the image as needed.
UPLOADING DOCUMENTS
Now that your documents are scanned or downloaded on your device, you can easily send them as email attachments or upload them directly to your personalized client portal assigned to you. If you require more assistance with this step, here is an article which goes into more detail on this process.
SUMMARY
Utilizing the technology we have on hand has never been more accessible… and for some, it’s never been more confusing. I hope this article helped simplify this portion of your mortgage approval process.

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