For anyone wanting to purchase their first property, the process can seem more than a little daunting, and knowing who to turn to for help and advice, not to mention your mortgage, can be confusing.

The real estate market in Calgary has been incredibly busy up until now, and looks set to continue that way. With the ongoing health pandemic, Canadians have been forced to alter everything about their lives, and with lockdowns and curfews in place for many weeks, their priorities have shifted towards their homes, and making them as comfortable and livable as possible.

Buying a home, whether it’s your first, second, third or fourth can be an exciting time, but it’s easy to get carried away in your search for a dream home, without having a sound understanding of your financial constraints.

Predictions made by experts within the housing and mortgage market, suggest that housing activity in Canada will continue to be strong throughout 2021 and even into the following year, and it’s estimated that 701,000 homes will be sold through Canadian MLS systems this year.

We might be heading towards the halfway point of the year, but that doesn’t mean that you can’t reassess your financial goals and begin preparing to get a mortgage loan; not all resolutions have to be made on the 1st January! With this in mind, here are a few tips to help you better manage your finances and begin saving for a mortgage:

When you make a late payment or default on a payment, the lender or creditor reports the information to the credit bureaus. Then, it’s included in your personal credit report, which can then be used to enable other lenders or creditors to make a more informed decision as to whether to extend you credit. If you’re applying for a mortgage and have bad credit, this can affect your ability to secure a loan, but it doesn’t always have to be a complete barrier.

When making what is likely to be the biggest purchase of your life, you want to be sure you get the very best deal possible, but how can you guarantee this? With so many banks, lenders and brokers all waiting eagerly to take your loan application, what can you do to ensure you get a great mortgage deal?

While Canada might not be experiencing a housing bubble, the global pandemic has brought about conditions that have tipped the housing market on its head, and it pays to be mindful of such changes and how they could affect you, as a homebuyer.

Garnering a lot of media attention, a sub-one percent interest rate on a mortgage that was recently revealed, has caused a lot of consumers to wonder whether such low rates are too good to be true.

If you’re not exactly in a rush to go out and buy a home right this minute, it might be worth thinking about whether there is a good time to buy a home in Canada. You might not realize it, but the time of year can have a very definite impact upon home buying, and as such, buying a home at certain times of the year might prove beneficial: