• Common Mortgage Pitfalls

    Jencor Mortgage    |   

    Categories: Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , Jencor News , Mortgage Broker , Mortgage Refinancing , Mortgage Renewal , real estate news

    A mortgage broker can help you avoid many of the pitfalls commonly encountered during the home buying process, it's still important to be informed even before you start looking for that perfect home.

    1. Check your credit report before you apply for a mortgage - Equifax
    2. Lowest rate is not always the best rate for you
    3. Minimum of 5% of the purchase price, over a purchase price of $500.000 it is 5% on the 1st $500,000 and 10% on the balance of the purchase price
    4. Set a budget for yourself: legals fees, home inspection fees, condo fees
    5. Rate shopping, don't!  Let your broker pull one bureau and find the best mortgage for you

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  • Jencor / Highlander Wine and Spirits Appreciation Event

    Jencor Mortgage    |   

    Categories: Jencor News , Preferred Partner

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    Every year in Calgary we invite our clients and referral partners to stock up for the holiday season.

    Jencor / Highlander Wine and Spirits Appreciation Event is scheduled for November - watch for details and hope you can make it!

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  • Back to School

    Jencor Mortgage    |   

    Categories: Jencor News

    Love it or hate it, the kids are heading back to school in less than a month, and while over 50 per cent of Canadians are looking forward to getting back to a routine, more than one-third cite expenses as the number one stressor when it comes to back-to-school shopping, according to a recent poll by Ebates.ca.   As for spending habits, almost half (45 per cent) of Canadians shell out between $100-$200 per child, and nearly one-in-four spend more than that. Here are the top five money-saving tips to help you stay on budget and make the best of the back-to-school transition this year. Start…

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  • Edmonton Airport Redevelopment Project Taking Off

    Jencor Mortgage    |   

    Categories: Jencor News

    It aims to set the bar for carbon-neutral living in Canada and Blatchford, a 217-hectare development on the site of the former Edmonton Airport, has made a promising start; diverting 27,000 tonnes of building materials from landfill during site preparation. Material included 50 hectares of hard surface consisting of two runways, taxiways, surface parking lots and foundations. The asphalt, concrete and gravel has been processed and sold back to the construction industry. Twelve airport buildings were also deconstructed and sold off to be reassembled and repurposed elsewhere. Those buildings not recycled as complete units were recycled in their component parts. Fixtures that were aviation-related, such as floodlighting,…

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  • New website under construction

    Jencor Mortgage    |   

    Categories: Commercial Mortgage , First Time Home Buyer Mortgage , Jencor News , Mortgage Broker , Mortgage Companies , Mortgage Refinancing , Mortgage Renewal

    New Website Coming Soon!

    We are currently revamping our website. Our new website will be interactive and mobile friendly!

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  • 10th Annual Rock & Roll Car Show July 30, 2017

    Jencor Mortgage    |   

    Categories: Jencor News

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    Looking for a some time out and about and away from the city?

    Marv's Classic Soda Shop in Black Diamond Alberta is hosting their 10th Annual Rock & roll Car Show!

    8am - 4pm - July 30

    Hamburgers, hot dogs, milk shakes, fries, and ice cream just to name a few yummy things on the menu. Marv will even make you a malt in any flavor you want!

    It's the 50's all over again, all retro right down to the uniforms. Great family fun event not to be missed.

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  • July - The Month Interest Rates Turned Upward

    Jencor Mortgage    |   

    Categories: calgary real estate , cmhc , Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , Mortgage Broker , Mortgage Companies , mortgage insurer , Mortgage Refinancing , Mortgage Renewal , New Construction Mortgage , real estate news , Spousal Buyouts

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    After 7+ years of ultra low rates

    This is something that has been a long time coming.  There is a huge overhang of central bank debt around the world that now must be unwound. It will not be without pain. The following are a few articles on the subject that we hope will hep shed some light on what is happening and on what you can expect.

    How The Bank of Canada rate hike will affect borrowers

    Bank of Canada raisers interest rate for first time in 7 years

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  • Winds of Change - Should OSFI's stress tests be expanded to uninsured mortgages?

    Jencor Mortgage    |   

    Categories: calgary real estate , Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , Jencor News , Mortgage Broker , Mortgage Companies , Mortgage Refinancing , Mortgage Renewal

    The Office of the Superintendent of Financial Services (OFSI) announced earlier this month it will be increasing its supervisory efforts for residential mortgage underwriting - specifically focusing on Guideline B-20, which it also announced potential changes to.

    Changes include:

    uninsured mortgages requiring a qualifying stress test

    LTV, loan to value measurements remain strong and adjust for local market conditions where they are used as a risk control, such as for qualifying borrowers

    prohibiting co-lending arrangements that re designed or appear to be designed to circumvent regulatory requirements

    Many brokers would argue that not enough time has been given to see how the impact of those changes from last summer have been.

    Hard to say the impact of these changes if and when they come to pass, but keep an eye out....

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  • Experts Split on Interest Rate Rises

    Jencor Mortgage    |   

    Categories: calgary real estate , Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , Mortgage Broker , Mortgage Companies , mortgage insurer , Mortgage Refinancing , Mortgage Renewal , New Construction Mortgage , real estate news , recreational properties , Spousal Buyouts

    Further interest rate rises may or may not be on the cards in 2017 with no expert consensus as yet. Following the increase on July 12, Bank of Canada governor Stephen Poloz said that further rates would depend on data. The latest retail figures, released by StatsCan last week along with rising inflation have some calling for another rate rise before 2017 ends. TD Securities' Fred Demers told Bloomberg that an interest rate hike in October 'is a very likely scenario," while Benjamin Reitzes of BMO Capital Markets added: "October is still a very reasonable call for the bank." CIBC economist Avery Shenfeld is…

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  • Rebuilding homes in Fort McMurray - Going faster than expected, CMHC says

    Jencor Mortgage    |   

    Categories: calgary real estate , cmhc , Jencor News , Mortgage Broker , Mortgage Companies , mortgage insurer , Mortgage Renewal , New Construction Mortgage , real estate news , recreational properties

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    Rebuilding efforts in Fort McMurray, Alta., are running ahead of expectations, with reconstruction underway on one-third of the homes destroyed in last year’s wildfire, according to Canada Mortgage and Housing Corp. In a report Thursday, the federal agency said the rebuilding of 844 housing units has started and that number is expected to rise to about 1,000 this year. It said 122 of the projects were started last year and 722 in the first half of this year. CHMC market analyst Tim Gensey said the agency underestimated how many construction workers would come to Fort McMurray when it suggested last December only…

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  • Non Residential Investment

    Jencor Mortgage    |   

    Categories: calgary real estate , Jencor News , Mortgage Refinancing , real estate news

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    Statistics Canada reports that $12.4 billion was invested in the sector with industrial and commercial buildings leading the rise while institutional spending was lower.

    Overall, 6 provides posted an increase with Ontario having the largest upturn, followed by BC and New Brunswick.  Alberta and Saskatchewan saw the largest declines.

    Looking to invest in property?  Call a Jencor Mortgage Advisor today and find out exactly how much you can afford and the best mortgage for you!

    Canadian Real Estate Wealth - Steve Randall

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  • The End of the Greatest Outdoor Show on Earth and Retirement of The King!

    Jencor Mortgage    |   

    Categories: Calgary Stampede , Jencor News

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    This was the final race for Kelly Sutherland, 'The King'  as this year's Stampede came to a close.

    Kelly has been competing at the Calgary Stampede for 5 decades!  Now, reaching the age of 65 its time to "hang up his reins"

    First Came the Feather - Calgary Herald July 14, 2017

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  • Maclin Ford 100 Celebrates 100 years of business in Calgary!

    Jencor Mortgage    |   

    Categories: Jencor News

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    Maclin Ford was established in 1917 and held a celebration on Monday to mark the 100 years in business.

    Maclin Ford celebrated the milestone with two $50,000 donations - to the Calgary Women's Emergency Shelter and the Alberta Children's Hospital.

    The dealership has been in its current location, just off Glenmore Trail, since 1987.

    The original location was on Macleod Trail.

    Thank you to the Calgary Herald - July 17, 2017 Article

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  • Cyclepalooza July 14 - July 23

    Jencor Mortgage    |   

    Categories: Jencor News

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    Now in its seventh year, this event is composed of about 25 bike themed activities organized by volunteers trying to bring people together through biking and to demonstrate the positive impact cyclists can have on their communities. Initially somewhat overshadowed by the Stampede, its now in full swing.

    Cyclepalooza

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  • What's Your Best Rate?

    Jencor Mortgage    |   

    Categories: Debt Consolidation , First Time Home Buyer Mortgage , Jencor News , Mortgage Broker , Mortgage Companies , Mortgage Refinancing , Mortgage Renewal , New Construction Mortgage

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    What's your best rate is something we hear everyday and you would think it would be easy to reply, but nothing is ever easy!

    To ensure that you get the best mortgage for YOU, we like to make sure we ask some questions:

    1. What's the term?
      1. fixed / variable / 5 year ?
    2. Is this your primary home or a second home or a rental?
    3. Can you verify your income
      1. we understand that your bank already knows you and they can see your pay being deposited, but not all of the lenders that your broker has access to has that access.  So paperwork will be required
    4. Where is the property located?
    5. When is the closing date / possession date?
    6. Can you live with prepayment restrictions?
      1. some of the lowest rate option do not allow prepayments at all which means no putting your bonus down towards your mortgage
    7. Can you live with portability headaches?
      1. discounted rates will sometimes force you to ensure that the sale and purchase close on the same day!
    8. Can you live with refinance restrictions?
    9. Can you live with a large penalty?
    10. What type of property is it?
    11. Do you want good rates when you renew or refinance early?
    12. Have you ever been bankrupt, consumer proposal, collections?
    13. Do you have a property in mind or do you want a pre-approval?
    14. What would be the loan to value, conventional or insured?
    15. Can you pass the Governments stress test
      1. less than 20% down payment you MUST qualify @ benchmark rate 4.64%
    16. Do you know your credit score?
    17. Are you purchasing, refinancing or wanting to switch lenders?
    18. What is the purchase price of the property?
    19. Is your mortgage already insured?
      1. CMHC / Genworth / Canada Guaranty
    20. How long of an amortization do you require?
      1. some lenders may charge a premium with an extended amortization over 25 years

    This is a lot of questions but, once we go thru these we can find you exactly what you want and you will have all the information you need to make the decision that is right for you!

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  • Travels of the Jencor Mug

    Jencor Mortgage    |   

    Categories: Jencor News

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    The Jencor Mug has been getting around!

    The mug has been to Japan, BC, Las Vegas, backyard BBQ's!

    We want to know where you use your Jencor Mug or where is has been traveling this summer.  At the end of summer we will be doing a give away for one lucky person.

    Don't have a Jencor Mug - Stop by the office, Say Hi and get a mug!

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  • Why Use A Mortgage Broker

    Jencor Mortgage    |   

    Categories: Jencor News , Mortgage Broker

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    There are many great reason for you to consider, aside from the time saving factor and allowing a licensed professional to negotiate with potential lenders on your behalf, really is Expertise!

    For most people buying a home is the single biggest purchase you will make in your lifetime. The choice when it comes to arranging financing can impact you for years to come. Not all mortgages are created equal!  A mortgage broker has the experience and know how to ensure you get the mortgage that is best suited for you.

    Customer service is an important element of using a Mortgage Broker. Their job is to represent you through the full mortgage transaction and to always act in your best interest.  Your mortgage broker has a relationship with many different potential banks and lenders, this allows them to the shopping for you and the right options for your unique situation.  When you shop for a new car, you settle for the first one you see, you do some comparisons, test drive a few, see how the knowledgeable are the sales people.

    A mortgage brokers work is not finished after the mortgage transaction has completed.  We want to stay in touch and time to time give you a call and see how everything is going and if you have any questions and provide you with strategies for paying off your mortgage quicker and planning for the future endeavors.

    Jencor Mortgage Brokers are there for every step of the way, from start to furnish!  Our clients are are a part of something bigger...the Jencor Family!

    Jeff Yuzwak - Jencor Mortgage

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  • Calgary resale home listing surge in June

    Jencor Mortgage    |   

    New Listings greatly outpaced resale demand in June as the city's improving housing market led more Calgarians to put their homes on the market.

    click on the link for the article

    Calgary Herald - July 4, 2017

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  • Alberta Recreation Property Near Big Cities on the Upswing

    Jencor Mortgage    |   

    Categories: calgary real estate , Jencor News , Mortgage Refinancing , Mortgage Renewal , real estate news , recreational properties

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    Alberta's recreational property values, particularly those near Edmonton and Calgary are on the rise a new market report says.

    According to the 2017 Royal LePage Canadian Recreational House Report, recreational properties near the two cities have begun to see their markets turn a corner with slight year over year prices increase so far in 2017.

    Average regional prices in Alberta include:

    • Pigeon Lake: $450K for lakefront / $315K for woodland cabin / $236K resort/condo
    • Wabamum Lake and Lac St. Anne: $516K for lakefront/ $242K for woodland cabin
    • Sylvan Lake:  $1M for lakefront property
    • Pine Lake: $600K for lakefront property
    • Canmore: $2.75M for riverside property / $790K for resort/condo property

     

    Edmonton Journal 06/20/2017

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  • Canada's 150th Birthday Plans

    Jencor Mortgage    |   

    Categories: Jencor News

    July 1, 2017 will mark Canada’s 150th Birthday and Canadians everywhere are getting ready to celebrate.

    This year the Government of Canada has released the Parks Canada Discovery Pass for Free! Now you will have unlimited opportunities to enjoy all Canadian National Parks, National Marine conservation areas and National Historic sites across our beautiful Country!

    If you have not already signed up for your free pass check out the Government of Canada website:
    http://www.commandesparcs-parksorders.ca/webapp/wcs/stores/servlet/en/parksb2c  for more information.

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