Corey McEwen

A home purchase is one of the largest assets and the biggest debt that a person will have (I highly advise you don’t buy a car worth more than your house! lol). If this is your first time obtaining mortgage, then there are a few things that you need to know about what is required to qualify:

1) Credit History: How is your current credit and how has it been in the past? Your financial institution will look at your rating, and that everything is in good standing. If you are able to manage your debt, then it reflects on your ability to manage house payments.

2) Debt Load: What are your liabilities? How much debt do you have? Your financial institution will look at the amount that you owe compared to the amount that you earn. Your debts should not exceed 40 to 42 % of your gross income, and your housing costs should not exceed 30 to 32% of your gross income.

3) Income and Job Stability: How long have you been with your current job? What is your income? Your financial institution will need to verify your pay via recent pay stubs, plus may request a letter from your employer further verifying your income and employment status.

4) Down payment: You will need a down payment of at least 20%, and will need to provide information on where your down payment will be coming from. Will you be withdrawing from RRSPs or other investments? Or do you have other savings that you will be using? Will you require mortgage insurance through CMHC?

Having an amazing Mortgage Broker / Mortgage Representative is a big deal. Whether one of the big 5 banks or an independent broker, I’m happy to refer names of those who have “wowed me” with a level of service far above the average for my clients.

Heads up to any buyers, you have until September 15th to get an accepted offer on a home before the Canadian Government has 0% Financing removed from mortgages.  So if you are wanting to buy a house this way in the Edmonton area, get on the phone with me asap so we can move fast! 780-850-4004 Corey McEwen for all your real estate needs.

Great news for new home builds… check out the Edmonton Journal Link and enjoy the quick read… Edmonton Housing Starts Up.  Have a great rest of the week everyone.

Corey McEwen Edmonton Real Estate February 2012

How is Alberta’s Economy?  Great write up from the Calgary Herald… click here.

IF YOU HAVE SOME KIDS AND YOU’RE LOOKING FOR A GREAT PLACE TO TAKE THEM.  GO TO MILLENIUM PLACE FOR HALLOWEEN.  THIS EVENT IS GEARED FOR FUN AND EXCITEMENT WITH ENTERTAINMENT, TREAT BAGS, GAMES & FUN IN A NON-SCARY WAY.  RUNS FROM 5:30PM-9:00PM.  HOPE TO SEE YOU THERE.

One of my favorite things to do with my son is to take him to a hockey game.  The Joey Moss Cup is a great chance to see the Edmonton Oilers in action on a small budget.  For only $10 a ticket (in advance), you get to see the Oilers split into 2 teams.  Hope to see you there.  Click here to buy your tickets now!

Two years after the Great Recession ended, Alberta’s energy-fuelled economy is again flexing its muscles. With oil prices tripling from their 2009 lows, drilling activity on the upswing, unemployment falling and oilsands investment surging, Alberta looks poised for a new growth supercycle.

To read the rest of this great article click here.

Want to give buyers another way of seeing your home when selling it?  Here is a video tour I created for 758 Johns Road.  A great way to introduce a customer with a busy schedule, or who lives on the other side of the country.

Click here to watch it!

This listing (mls#e3273875) is now available to view from video!  Just click here and get a great idea of the layout of this home.  I will point out the video does make the rooms smaller, so if you like what you see you will want to book a viewing to see it in person.