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  • Holiday Charity Referral Program

    Jencor Mortgage    |    Dec 13, 2022

    Categories: accredited mortgage professional , Broker , calgary real estate , Dominion Lending Centres News , First Time Home Buyer Mortgage , Fixed Rate , Jencor , Jencor Mortgage , lender , Lending , Mortgage

    referral.png

      We are so grateful for every referral you give us. To show our thanks for your trust and kind words, we want to give the gift of supporting your local food bank this holiday season! From December 1, 2022 to January 31, 2023 anyone who refers their family and friends to Jencor will be entered to receive a $500 donation to the Calgary Food Bank or the registered Canadian food bank of their choice. How it Works When we receive a call or email from a new client, we will ask who sent them our way. The referrer’s name will then be entered…

    READ MORE »


  • Announcing the new website

    Jencor Mortgage    |    Aug 29, 2017

    Categories: Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , New Construction Mortgage , Preferred Partner

    Announcing new website

    We are delighted to announce the launch of our new website!

    Our new website provides our existing and prospective clients with a simple yet interactive view of our work and the services that we offer.

    READ MORE »


  • Common Mortgage Pitfalls

    Jencor Mortgage    |    Aug 26, 2017

    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

    READ MORE »


  • New website under construction

    Jencor Mortgage    |    Aug 01, 2017

    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!

    READ MORE »


  • July - The Month Interest Rates Turned Upward

    Jencor Mortgage    |    Jul 24, 2017

    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

    july.jpg

    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

    READ MORE »


  • Experts Split on Interest Rate Rises

    Jencor Mortgage    |    Jul 24, 2017

    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…

    READ MORE »


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

    Jencor Mortgage    |    Jul 24, 2017

    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....

    READ MORE »


  • What's Your Best Rate?

    Jencor Mortgage    |    Jul 04, 2017

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

    rate.jpg

    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!

    READ MORE »


  • Mobile Homes Impacted by Mortgage Changes

    Jencor Mortgage    |    Jun 11, 2017

    Categories: cmhc , First Time Home Buyer Mortgage , Mortgage Companies , mortgage insurer , Mortgage Refinancing , Mortgage Renewal

    New mortgage rules prohibit insured property from being refinanced and the fact that most lenders require mobile homes located in a mobile park to be insured, regardless of the amount of equity the owner has.

    A number of brokers are already reporting cases where their clients have tried to refinance only to find it wasn't possible, or having to use private lenders with a higher interest rate and fees from the lender and the broker.

    It has been noted that the restrictions aren't unique to mobiles homes, but can also include small condos under 550 square feet, homes on leased land, homes built using alternative building methods.

    "To be very fair to a private lender, they realize that the ability for them to resell that home in the case of default is now very small and so their risk increases quite a lot as well."  "They have a higher default on mobile homes and it cuts their losses that way, but that's still a very small number." (quote from Joel Olson, DLC Mortgage Expert in Kamloops)

    "Article - Steve Huebel June 12, 2017 - Canadian Mortgage Trends"

    READ MORE »


  • CMHC First Quarter Results

    Jencor Mortgage    |    Jun 05, 2017

    Categories: cmhc , Debt Consolidation , First Time Home Buyer Mortgage , Mortgage Broker , Mortgage Companies , mortgage insurer

    Last week CMHC announced their first quarter results, and the Globe and Mail reported:

    "Steven Mennill, CMHC's senior vice president of insurance, said most of the drop in demand for portfolio insurance in the first quarter was the result of a premium hike CMHC introduced January 1 because of new capital requirements for mortgage insurers that were introduced by Canada's financial regulator.

    Mr. Mennill said CMHC doesn't know yet whether the drop in portfolio insurance signals a permanent shift in its business model or whether demand for the insurance product will swing back again.

    "It's not clear at this point whether either of these changes will be sustained over the long term," he said. "Portfolio insurance (demand) is largely a function of the overall sources of capital and liquidity and funding available to lenders in the system, which is affected by a wide range of factors. The cost of portfolio insurance is just one of them."

    The declining insurance volumes led to an 8.1% drop in premiums and fees earned by CMHC on new mortgage insurance written in the first quarter.

    We are just wondering, perhaps CMHC's premium volume drop, is because of not accepting application for single unit rentals, not accepting applications of refinances, not accepting applications for properties valued at over $1 million rather than a premium hike.

    CMHC used to promote itself as "helping house Canadians". CMHC now is in the business of preventing Canadians from achieving home ownership. Have all the changes CMHC instituted been in the best interests of the home buyer and mortgage consumer?

    It would be very nice to see a dialogues about the role of CMHC in Canadian Housing. The House of Commons Standing committee did received testimony on the subject. The role of CMHC in our economy and in the housing market needs to be openly discussed and understood. Top down dictates from such an important institution do not serve Canadian well.

    We all need to make ourselves aware of the government and CMHC's unintended consequences from mortgage rule changes. IF the VP of Insurance at CMHC is quoted as thinking the premium hike is responsible for the drop in revenue and not the restricted product offerings, perhaps more awareness is needed.

    Croft Axsen

    Broker Owner / President

    Jencor Mortgage Corporation

    READ MORE »


  • How to Find a Professional to Work With

    Jencor Mortgage    |    May 08, 2017

    Categories: Debt Consolidation , First Time Home Buyer Mortgage , Mortgage Broker , Mortgage Companies , Mortgage Refinancing , New Construction Mortgage , Spousal Buyouts

    blog 2.jpg

    You have worked hard, saved and are financially ready to buy a home and your next step is to find the professionals, Jencor Mortgage Agents are licensed mortgage professionals and can also refer you to a licensed real estate professional as well as lawyers.  Jencor's team of professionals will provide advise to ensure you are comfortable and you successfully negotiate the best mortgage financing.

    Whether purchasing your first home, vacation property, renewing your mortgage or looking at some investment properties. Let us work with you and provide you with the service and expertise you deserve.

    Bank employees can assist in mortgage financing but they do not require a license through The Real Estate Council of Alberta.

    We have Mortgage Advisors licensed in Alberta, British Columbia and Ontario.

    Refer to the RECA website:  www.reca.ca / Searching for an Industry Professional.  All mortgage brokers in Alberta must obtain a license thru RECA. For British Columbia FICOM, Finanical Institutions Commission http://www.fic.gov.bc.ca/index.aspx?p=mortgage_brokers/index. Financial Services Commission of Ontario http://www.fic.gov.bc.ca/index.aspx?p=mortgage_brokers/index

    READ MORE »


  • U-Haul’s Migration Trend Report

    JENCOR MORTGAGE CORPORATION    |    Mar 19, 2017

    Categories: Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , Mortgage Broker , Mortgage Calculator , Mortgage Companies , Mortgage Refinancing , Mortgage Renewal , New Construction Mortgage , Spousal Buyouts

    spousal buyouts calgary

     

    Did you know that U-Haul releases an annual report which details the previous year's highest growth markets? The cities are calculated by the net gain of arriving one-way U-Haul trucks over departing one-way U-Haul trucks for a calendar year. The data is compiled from more than...

    READ MORE »


  • Documents You Will Need When Applying For A Mortgage

    JENCOR MORTGAGE CORPORATION    |    Mar 06, 2017

    Categories: Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , Mortgage Broker , Mortgage Calculator , Mortgage Companies , Mortgage Refinancing , Mortgage Renewal , New Construction Mortgage , Spousal Buyouts

    mortgage renewal calgary

    You're thinking about buying a home, which means you'll most likely be in the market for a mortgage. As with any large financial transaction, there is a lot of paperwork involved. Below is a list of the standard documentation you'll need to provide.

    READ MORE »


  • Moving Day Is Coming! Have You Backed Up Your Tech?

    JENCOR MORTGAGE CORPORATION    |    Feb 23, 2017

    Categories: Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , Mortgage Broker , Mortgage Calculator , Mortgage Companies , Mortgage Refinancing , Mortgage Renewal , New Construction Mortgage , Spousal Buyouts

    commercial mortgage calgary

    You’ve bought new home and there are a million things swirling in your mind to prepare as the closing day countdown ticks away. The normal hassles of changing your mailing address, canceling utilities and setting them up at the new place.

    READ MORE »


  • First Quarter News From CMHC

    Jencor Mortgage    |    Feb 09, 2017

    Categories: Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , Mortgage Broker , Mortgage Calculator , Mortgage Companies , Mortgage Refinancing , Mortgage Renewal , New Construction Mortgage , Spousal Buyouts

    mortgage refinancing calgary

    Part I - Hiking Rates

    For the third time in four years, the Canada Mortgage and Housing Corporation (CMHC) recently announced it will again increase mortgage insurance premiums, which would average an additional $5 per month ($60/year) for the typical insured mortgage.

    READ MORE »


  • Vancouver’s New Foreign Buyer Tax and Regulations

    JENCOR MORTGAGE CORPORATION    |    Jan 19, 2017

    Categories: Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , Mortgage Broker , Mortgage Calculator , Mortgage Companies , Mortgage Refinancing , Mortgage Renewal , New Construction Mortgage , Spousal Buyouts

    mortgage renewal calgary

    In July 2016, BC's government unexpectedly mandated a 15% tax on any foreign national buying real estate in Metro Vancouver. This maneuver was to put a major speed bump on the steady flow of offshore money (mainly Chinese), streaming into the province, which bore the brunt of the blame for Vancouver's record high real estate last year.

    READ MORE »


  • A Year In Review and Looking Ahead To 2017

    JENCOR MORTGAGE CORPORATION    |    Jan 05, 2017

    Categories: Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , Mortgage Broker , Mortgage Calculator , Mortgage Companies , Mortgage Refinancing , Mortgage Renewal , New Construction Mortgage , Spousal Buyouts

    first time home buyer mortgage calgary

    As we enter into 2017, we take a look back at major headlines in 2016 and projections for what might lay ahead for Canadians in the next 12 months.

    New Mortgage Rules

    Last October, Canada's Federal Finance Minister made an announcement that would affect those trying to qualify for a mortgage as of November 30, 2016. In the past, borrower's could qualify for a mortgage based on discounted rates.

    READ MORE »


  • Prepayment Privileges–What You Need To Know

    JENCOR MORTGAGE CORPORATION    |    Dec 29, 2016

    Categories: Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , Mortgage Broker , Mortgage Calculator , Mortgage Companies , Mortgage Refinancing , Mortgage Renewal , New Construction Mortgage , Spousal Buyouts

    mortgage renewal calgary

    A mortgage is a considerable financial investment for anyone. It is likely one of the biggest investments an individual will make in their lifetime and there are many aspects to consider to ensure that your type of mortgage is the right one for you.

    READ MORE »


  • Getting Into Investment Properties Things You Should Know

    JENCOR MORTGAGE CORPORATION    |    Dec 01, 2016

    Categories: Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , Mortgage Broker , Mortgage Calculator , Mortgage Companies , Mortgage Refinancing , Mortgage Renewal , New Construction Mortgage , Spousal Buyouts

    mortgage broker calgary alberta

    If you've ever thought about trying to make more money, the idea of making an investment has probably crossed your mind. Perhaps you've thought about getting into real estate, as investing in property could potentially offer the perfect opportunity to expand your income.

    READ MORE »


  • Should You Move Or Turn Your Current Home Into Your Dream Home?

    JENCOR MORTGAGE CORPORATION    |    Nov 17, 2016

    Categories: Commercial Mortgage , Debt Consolidation , First Time Home Buyer Mortgage , Home Construction Loans , Mortgage Broker , Mortgage Calculator , Mortgage Companies , Mortgage Refinancing , Mortgage Renewal , New Construction Mortgage , Spousal Buyouts

    new construction mortgage calgary

    No matter what kind of home you live in, it's probably safe to assume that you want it to be as close to your taste as possible, which is often more difficult than it sounds.

    READ MORE »


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Recent Posts

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  • Common Mortgage Pitfalls
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  • July - The Month Interest Rates Turned Upward
  • Experts Split on Interest Rate Rises
  • Winds of Change - Should OSFI's stress tests be expanded to uninsured mortgages?
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