| Current Rates |
| Todays Prime: | 3.50 | |
| Term | Broker | Bank |
| 6 Month: | 5.90 | 5.90 |
| 1 Year: | 4.25 | 5.60 |
| 2 Year: | 5.05 | 6.25 |
| 3 Year: | 5.15 | 6.25 |
| 4 Year: | 4.79 | 6.45 |
| 5 Year: | 4.89 | 6.75 |
| 6 Year: | 6.10 | 7.00 |
| 7 Year: | 6.25 | 7.20 |
| 10 Year: | 6.45 | 7.35 |
| 15 Year: | N/A | N/A |
| 18 Year: | N/A | N/A |
| 25 Year: | N/A | N/A |
| No Down: | 7.00 Cash back | N/A |
| Variable 1: | 4.10 | N/A |
| Variable 2: | N/A | N/A |
| Local: | 1 - 403 - 313 - 0606 |
| Toll Free: | 1 - 877 - 699 - 0719 |
| Updated: | Dec 28, 2008 |
|
First Time Home Buyers
Buying your first home can be both exiting and stressful. Let Western Canada Mortgage take the stress away. Having a mortgage broker work on your behalf ensures that the transaction will run smooth. We will match you up with the lender that best suits your needs while getting you the lowest mortgage rates available. Western Canada Mortgage has a vast network of solicitors, appraisers, realtors and specialists that know the first time home buyer process. This network combined with our extensive knowledge of the mortgage market will allow for a stress free home buying experience.
Step 1 - A Pre-Approved Mortgage
Having a pre-approved mortgage shows you how much of a mortgage you qualify for while giving you a rate hold for 120 days. The rate hold protects you if rates go up. If rates drop during your 120 day period, you will get the lower rate. With amortizations up to 40 years, you can control how much of a payment is comfortable for you.
Step 2 - Purchasing a Home
Choosing a possession day closer to the end of the month, right up to the 1st of the month will save you money on the interest adjustment fee. Give yourself one week between the accepted offer and the condition removal day. During this week you will need to finalize the mortgage financing with your mortgage broker. On conventional mortgages, the appraisal would be ordered at this time. If you wish a home inspection, now would be the best time.
Step 3 - Lawyer
You will need to find a lawyer to handle the transaction. If you don't have one, ask your mortgage specialist for a list of lawyers that come highly recommended.
Step 4 - Pack!
Step 5 - Signing
The lawyer will be in touch with you approximately 10 days before your possession date. You will be required to sign documents in their office. This is when all financial matters are completed.
Step 6 - Possession
Your realtor will take you through a "walk through" on your possession day to make sure everything is the way it should be and you will be given the key.
We save you time, money and our service is absolutely FREE ! What are you waiting for?