HOA fees, or Home Owners Association Fees are commonly required for properties purchased in some of Calgary’s newer communities, such as Auburn Bay, Mahogany or West Springs, in which residents are required to pay an annual fee to community associations.

As a short-term interest-only loan taken out with the available equity in your property, a second mortgage is typically only offered by private lenders, and unfortunately, their rates are higher than those you’d see for first mortgages at a bank.

If you choose to work with a qualified mortgage broker in your locality, they will help talk you through your loan estimate, a 3-page document outlining the most important details of your loan, and help you to understand what the lender expects from you if you choose to proceed.

Getting the right property at the right price is crucial if you’re planning to buy a commercial building in Canada, and the first part of the process is to understand the different types of commercial properties available to you.

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.