Mortgage Knowledge Center

Thank you for visiting our Calgary Mortgage Broker Knowledge Center! We encourage clients to learn as much as they can about mortgages, and we hope that we have laid it out in a manner that is both informative and user friendly. We find that the client's who are most informed, are usually the ones who feel the most satisfied that the decisions they made were the right ones, making the overall experience more pleasant. If you have any questions or concerns about our Mortgage Knowledge Center, please do not hesitate to call or drop us an e-mail.

Current Mortgage Rates

Verico Mortgage Options delivers on its commitment to supply our clients with the best mortgages rates available in Calgary!

Verico Mortgage Options Lending Network

Verico Mortgage Options works with 50 of Canada's top mortgage lenders. In our network, you will find big banks, mortgage companies, trust companies and private lenders, all competing for your business by offering our Calgary mortgage brokers their best mortgage rates. Let one of our Calgary mortgage brokers negotiate on your behalf!

Types of Mortgages

There are three general types of mortgages products. Regardless of what you are using the mortgage for (purchasing a new home, refinancing, etc) or what specific program you qualify under, your mortgage will always be a variable rate (sometimes referred to as adjustable), fixed rate or line of credit.

What is a credit report?

A credit report is a history of how well you have paid your previous and active credit lines. When you apply for credit, a file is created with the credit reporting agencies with the date the credit was granted, the amount of the credit and the amount of the monthly payments.

First 10 Steps in the Home Buying Process

Many clients have a difficult time getting started toward home ownership because they just don't know where to start. So we have laid out a framework to show you how there is usually a series of steps you go through in order to get from the day you decide to buy till possession day. We don't want to over simplify this as the path may have a few curves along the way, but the destination is always the same and is definitely worth the trip. We think you will find that if you take one step at a time, the process is not nearly as overwhelming as it seems.

Step 1: Decide if you are ready to be a Calgary homeowner. It is not just a financial decision but also a lifestyle decision.

Step 2: Call a Calgary mortgage broker to get pre approved.

Step 3: After getting your pre approved amount from your Calgary mortgage broker, go onto Realtor.ca to see what that amount of money will get you in the area you want.

Step 4: Find your realtor.

Step 5: Find your property.

Step 6: When you make your offer on the property, make sure you make it subject to financing (even if you are pre approved) and subject to home inspection.

Step 7: Make sure you budget to have money left over after your down payment for closing costs (legal fees, appraisal, property taxes etc), as well as things you know you need to buy for your new home.

Step 8: Arrange fire insurance on your new home, you must have it before your appointment with the lawyer..

Step 9: Meet with the lawyer to sign mortgage documents.

Step 10: Move in!

Calgary Mortgage Brokers

Call one of our Mortgage Brokers today, or apply online for a Free Pre-Approval today.