TYPICAL MORTGAGE QUALIFYING PROCESS
MORTGAGES FOR BUYERS: Whether you are looking to purchase a condominium (apartment or townhouse), or a single family home, you should get pre-approved for a mortgage. Mortgage Lenders qualify you in four main categories:1. Income – Your ability to make mortgage and other payments 2. Credit History -Have you been responsible in the past 3. Equity – Do you have a down payment and how much? 4. Property – Is the home you’re buying worth what you think it is? BASIC CRITERIA
Debt Service Ratios: ***The Gross Debt Service allowed is 32% for all applicants. Data to be provided by applicant: Mortgage Qualification Calculator This calculator will help you determine how much money you qualify to borrow. The results are informal. You will be subject to a credit approval from your financial institution taking into consideration existing debt load, amount of down payment, income and other variables. Mortgage Payment Calculator & Amortization Table This calculator will help you determine what your mortgage payments will be based on purchase price, interest rate and mortgage term, as well as other factors. The amortization table shows what the interest and principal payments will be over the term of the mortgage.
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MORTGAGE SPECIALISTS |
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LAWYERS
Paul Kushwaha | Joe Card | ||
206 A -1935 32 Ave Ne Calgary AB, T2E 7C8Phone : (403) 291-6786 Fax : (403) 291-4320 |
120-3636 23 Street NE Calgary,AB T2E8Z5 Phone : (403) 291-2532
Fax : (403) 291-2534 |
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Ryan McKay | David Gottlieb | ||
Suite 201, 6 Crowfoot Circle NW Calgary,AB T3G 2T3 Phone : (403) 800-8000 Fax : (403) 851-2107 |
Thorncliffe Shopping Centre #8, 5602 – 4th Street N.W. Calgary, Alberta T2K 1B2 Phone : (403) 275-4881 Fax : (403) 274-0367 |
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Jeff Kahane | |||
7309 Flint Road S.E. Calgary,AB T2H 1G3 Phone : (403) 225-8810 Fax : (403) 225-8289 |
SURVEYORS
Pang Surveys | Lovse Surveys | ||
Suite 220, 1300 8th Street S.W. Phone: (403) 242-8040 Fax (403) 242-8017 |
#2, 4750 106 Avenue S.E. Phone: (403) 254-2010 Fax: (403) 254-1723 |
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Douglas Surveys | Terramatic Technologies Inc. | ||
#610, 1300 8th Street S.W. Phone: (403) 228-7005 Fax: (403) 228-4144 |
12, 5080 12A Street S.E. Phone: (403) 214-3655 |
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Global Surveys Group | |||
210, 4954 Richard Road S.W. Phone: (403) 283-5455 Fax: (403) 283-5418 |
Calgary Real Estate: If you’d like to have your Calgary home listed in the MLS® listings service, or if you require further information or wish to arrange a showing on any Calgary homes for sale, give us a call at 403-805-HOME (4663) or contact us at admin@ursold.net.