Canada First Mortgage - Calgary Alberta

Mortgage Questions & Answers

Q. Why are your rates so much lower than my bank?

Major institutions have a lot of money to lend, but they also have a lot of expenses! Overhead, salaries, benefits, desks, utilities, to name a few.

At Canadian Mortgage Experts - Canada First, we work for you, and not for the banks. We bring a great deal of business to each bank and so are offered wholesale rather than retail interest rates. Major institutions make their money on the profit margin on the interest rates that are sold. This is why you need to haggle for the lowest rate possible, and even when you think you have won the battle, chances are, you have not.

Mortgage brokers are not paid based on the interest rate sold, but rather on the mortgage amount. Therefore, you are offered the lowest rate upfront.

Q. What is the difference between a fixed rate and a variable rate?

Fixed rates remain unchanged for the entire term you have selected. You will not need to worry about payment changes, or market conditions. These rates are based on the bond market and will not need to be renegotiated until the end of your term.

Variable rates are based on the prime rate. Most variable programs offer anywhere from .4% - .75% under the prime rate. Payments on a variable term will usually be lower than that of the fixed terms, with many people opting to use their extra money to set their payments higher and pay down their principal faster. Interest rates that are based on the prime rate are not guaranteed to stay the same and will change whenever prime changes. Most lenders will offer you the ability to lock into a fixed rate term without penalty if prime begins to rise.

Q. Is it better for me to make bi weekly payments?

Absolutely! Making biweekly accelerated payments can shave years off of the life of your mortgage . Bi weekly accelerated payments occur every 2 weeks- different than twice per month. When you make payments every 2 weeks you will be making 2 extra payments per year. These extra payments will be applied directly to your principal, potentially saving you thousands in interest.

Q. How do you get paid?

Mortgage brokers are paid by the financial institution your mortgage is placed with. In 99% of cases, our services are offered to you at NO CHARGE!

Q. Do you have to own a home to get a debt consolidation loan?

Canadian Mortgage Experts - Canada First deals only in mortgages and not regular loans. Therefore, if you do not own a home we cannot provide you with a debt consolidation.

Q. Can I refinance my mortgage to purchase investments?

Absolutely! With interest rates at record lows this has become a very popular thing to do. You can refinance your home for just about any purpose.

Q. Do you service all of Canada?


Q. How long does it take to get a reply?

Our goal at Canadian Mortgage Experts - Canada First is to provide prompt and knowledgeable service. You can expect a reply with 2 hours. If you have not heard from us after 1 business day, please call 403-294-0033.


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Canadian Mortgage Experts - Canada First
Dan & Stacey Mass
Calgary, Alberta
Direct: 403-650-6596

Fax: 1-866-377-4410

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