Posted: August 5, 2010 Categories: calgary mortgage broker, calgary mortgages No Comments
A big congratulations to JoAnne Purcell of the Purcell Mortgage Team for ranking with the Top 50 Mortgage Professionals in Canada.
Every year the Canadian Mortgage Professionals Magazine gathers information from Canadian Mortgage Professionals and ranks them by dollar volume of mortgages funded for the year. For 2008 and 2009 JoAnne Purcell has earned the right to say she is in Canada’s Top 50 Mortgage Professionals. On top of being ranked highly in Canada, by the same ranking system JoAnne is also considered in the Top 10 Mortgage Professionals in Alberta and the Top 3 in Calgary (CMP Top 50 List).
JoAnne has achieved status as a Top Mortgage Professional due to her continuous high level of customer service which has built hundreds of relationships and created thousands of satisfied customers over the years. JoAnne truly is a one of Calgary’s top Mortgage Professionals.
About the Purcell Mortgage Team:
The Purcell Mortgage Team are an industry-leading pair of mortgage professionals who have been serving Calgary for several years. JoAnne Purcell was ranked within the Top 50 Canadian Mortgage Professionals in the CMP Magazine. If you are in need a reputable calgary mortgage professional, please contact us today!
The Purcell Mortgage Team are experts on Calgary mortgages!
Posted: July 27, 2010 Categories: calgary mortgage broker, calgary mortgages, mortgage advice 1 Comment
At some point in their lives, most Canadians have probably asked themselves whether it is better to buy or rent a home. And purchasing a home is one of the biggest decisions most people ever make.
Ultimately, the decision is a personal choice, but it helps to look at the pros and cons of buying to determine whether home ownership is right for you.
Some advantages of buying a home
Owning a home is generally considered to be a sound, long-term investment that can provide satisfaction and security for you and your family.
Each month when you make your mortgage payment, you are building equity in your home.
Equity is the portion of the property that you actually build through your monthly payment versus the portion that you still owe the lender.
At the beginning of your mortgage, more of your payments go toward paying off the interest and less toward paying off the principal. But the longer you stay in your home and the more mortgage payments you make, the more principal you pay off and the more equity you accumulate.
Most mortgages also offer you the option of making additional monthly or annual payments to reduce your principal faster. Some prepayment privileges, for instance, enable you to pay up to 20% of the principal per calendar year. This will also help reduce your amortization period (the length of your mortgage), which, in turn, saves you money.
There is also a tax advantage. If your home is your principal residence, any profit you make when you sell it is tax-free. A home can appreciate – or increase in value – as time passes, building more equity. As you build up equity, it’s usually easier to upgrade to a more expensive home in the future thanks to the profit you’ll make when selling your current home.
As an owner, you can also decorate and improve your home any way you like. Ownership tends to give you a sense of pride and can offer you and your family stronger ties to the community.
If you do decide that home ownership is right for you, it’s important to choose a home you can afford. If you can’t afford to buy your dream home, purchasing a more modest home can be a great place to start building equity that one day may allow you to buy the home of your dreams.
Since we’re currently in a buyer’s real estate market and interest rates have been dropping, now may be an ideal time to enter into home ownership for the first time.
Some disadvantages of buying a home
Since it’s easy to get caught up in the excitement of buying a home, it’s important to remember that home ownership has some additional responsibilities as well.
For one thing, a home can be expensive. Chances are, your monthly payments will be more than what you are currently paying in rent when you factor in such things as your mortgage, property taxes, repairs and general maintenance.
Owning a home ties up some of your cash flow and is likely to reduce your flexibility to move to a new location or change jobs.
While your home might increase in value as time goes by, don’t expect to get a big return quickly. There are no guarantees that your home will increase in value, particularly during the first few years. In the beginning, you could actually lose money if you sell because your home may not have appreciated enough to cover the real estate fees, and moving, renovation and other selling costs.
Real estate is, however, usually considered a good investment over the long term.
When making the decision about whether to buy or rent, it’s important to carefully choose a home you can afford, and then weigh the pros and cons. Millions of people enjoy the rewards of home ownership but, ultimately, it’s a personal decision based on your own priorities.
If you’re thinking of buying your first home, Dominion Lending Centres mortgage professionals can answer all of your mortgage-related questions.
About the Purcell Mortgage Team:
The Purcell Mortgage Team are an industry-leading pair of mortgage professionals who have been serving Calgary for several years. JoAnne Purcell was ranked within the Top 50 Canadian Mortgage Professionals in the CMP Magazine. If you are in need a reputable calgary mortgage professional, please contact us today!
The Purcell Mortgage Team are experts on Calgary mortgages!
Posted: July 14, 2010 Categories: calgary mortgage broker, calgary mortgages, mortgage advice No Comments
There are generally two ways to get a mortgage in Canada: From a bank, or from a licensed mortgage professional.
While a bank only offers the products from their particular institution, licensed mortgage professionals send millions of dollars in mortgage business each year to Canada’s largest banks, credit unions, and trust companies … offering their clients more choice, and access to hundreds of mortgage products!
As a result, clients benefit from the trust, confidence, and security of knowing they are getting the best mortgage for their needs.
Mortgage professionals work for you, and not the banks; therefore, they work in your best interest. From the first consultation to the signing of your mortgage, their services are free. A fee is charged only for the most challenging credit solutions, and it’s especially under those circumstances that a mortgage professional can do for you what your bank cannot.
Whether you’re purchasing a home for the first time, taking out equity from your home for investment or pleasure, or your current mortgage is simply up for renewal, it’s important that you are making an educated buying decision with professional unbiased advice.
About the Purcell Mortgage Team:
The Purcell Mortgage Team are an industry-leading pair of mortgage professionals who have been serving Calgary for several years. JoAnne Purcell was ranked within the Top 50 Canadian Mortgage Professionals in the CMP Magazine. If you are in need a reputable calgary mortgage specialist, please contact us today!
The Purcell Mortgage Team are experts on Calgary mortgages!
Posted: November 22, 2009 Categories: calgary mortgage broker, calgary mortgages, contests No Comments
Dominion Lending Centres – Mortgage Services Inc.
Trip Giveaway Contest
Rules and Restrictions
Who is eligible?
Everyone who refers business that closes between October 1, 2009 to December 31, 2009 and every client that completes a mortgage that closes between October 1 and December 31, 2009.
(Dominion Lending Centres – Mortgage Services Inc. 102, 279 Midpark Way SE; Calgary, AB T2X 1M2; Associates and their immediate families are not eligible).
What is the prize?
The prize is a trip credit** valued at $2,500 that can be used anyway the winner determines to use it. (ie. All at once one trip, as two small trips, or part of a larger trip). The voucher can be used for flight, accommodations, or any other part of the trip.
How to win:
Every referral received that closes between October 1 and December 31, 2009, earns the referrer and the client one ballot into the draw. There is no limit on how many ballots one referral source can earn. On Friday, January 9, 2010 the winner will be announced.
** trip must be booked before December 31, 2010.
Posted: October 30, 2009 Categories: calgary mortgages No Comments
The Canada Mortgage and Housing Corporation is looking at the real-estate market with an open mind. Despite massive volatility in the market, and in Calgary especially, the CMHC is expecting a rebound as early as next year. There are many reasons for this, but here in Calgary you can see them quite plainly:
- New home construction - No matter which end of the city you reside in, new areas are going up. Calgary is still expanding its borders as it adds new suburbs to its mix. This article by the Calgary Herald sheds some light on the surprisingly good performance in the housing market for the last three months, and this article (also by the Calgary Herald) makes mention of the new community going up in Airdrie.
- New infastructure - While the ring road may be experiencing a bit of a roadblock, there’s no denying that the City of Calgary is spending lots of money on bringing its infrastructure up to par. This, aside from being a significant economic stimulant in its own right, will make Calgary more accessible.
- The economy is stabilizing - Yes, there are many reports that the economy is still sluggish, but it’s also showing signs of stability. As long as you have prepared yourself financially (see related posts: here, here, and here) there is little to fear at this point. The contractions are happening, but unlike what happened in late 2007/early 2008, most of the downsizing has already taken place. In fact, unemployment has fallen by 0.3%.
Keep a watchful eye on the market if you’re thinking about making a purchase. Now may be a great time to take advantage of good interest rates and plenty of availability- you never know just how long it will last.
About the Purcell Mortgage Team:
The Purcell Mortgage Team are an industry-leading pair of mortgage professionals who have been serving Calgary for several years. JoAnne Purcell was ranked within the Top 50 Canadian Mortgage Professionals in the CMP Magazine. If you are in need a reputable calgary mortgage specialist, please contact us today!
The Purcell Mortgage Team are experts on Calgary mortgages!
JoAnne Purcell, AMP