Adam Mansbridge Mortgage

Adam Mansbridge Mortgage Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Adam Mansbridge Mortgage, Mortgage brokers, Calgary, AB.

Mortgage brokers are paid by the lender, not the borrower! That sounds too good to be true but it is. For standard mor...
05/03/2024

Mortgage brokers are paid by the lender, not the borrower!

That sounds too good to be true but it is. For standard mortgage files, there is no broker fee for the client. The broker is paid entirely by the lender.

For alternative, private and commercial lending, a broker fee may be present but that is always discussed and agreed to before getting underway.

So why would you not get the guidance and care a broker can offer through your mortgage application??

A mortgage broker is SO much more than just rates and terms. And I love every bit of it. It’s also all about providing s...
04/25/2024

A mortgage broker is SO much more than just rates and terms. And I love every bit of it.

It’s also all about providing strategy, planning, guidance and care from pre-approval to the very last payment of that mortgage.

But the best part is seeing first time home buyers get their first home.

Nothing hits you in the feels quite like first time homebuyers taking possession of that first home. But there are so m...
04/11/2024

Nothing hits you in the feels quite like first time homebuyers taking possession of that first home.

But there are so many different and wonderful ways that I can help people as a mortgage broker. And I’ve always been all about how I can be of service to others.

These are just a few!

Bridge loan 101- recap! ☝️ you’ve got to have mortgage on the home you’re buying 🤙 you’ve got to have executed contracts...
04/03/2024

Bridge loan 101- recap!

☝️ you’ve got to have mortgage on the home you’re buying
🤙 you’ve got to have executed contracts on both the home you’re buying as well as the one you’re selling
🤟 you’ve got to have proof of fire insurance on the home you’re selling

Don’t fear the bridge loan! These can be sanity savers at least and life savers at most. It just takes a little understanding on how they work and you’re all set.

Gathered up a little consumer debt over the last few years? If you’re a homeowner, you may have a solution in your equi...
03/27/2024

Gathered up a little consumer debt over the last few years? If you’re a homeowner, you may have a solution in your equity.

Over the last few years, we’ve seen fairly consistent home value growth in Calgary. That means you may have a little more room to refinance than you realize!

Let’s connect to see what opportunity there is for a refinance to wipe out that debt!

Here’s a little summary of how New to Canada mortgage products can literally open the door to homeownership when credit ...
03/20/2024

Here’s a little summary of how New to Canada mortgage products can literally open the door to homeownership when credit history is a bit on the thin side.

Alternative credit is the key! If we’re able to show your lender proof of rent payments here in Canada over 12 months, proof of utility bill payments, an international credit bureau or bank statements showing positive activity, then we’ll be all set for that credit approval.

As always, start with a conversation with me!

Here’s the lowdown on how fluctuating and inconsistent income is qualified in a mortgage application:If you’re employed ...
03/14/2024

Here’s the lowdown on how fluctuating and inconsistent income is qualified in a mortgage application:

If you’re employed and earn commission, have significant bonus structure or have changeable hours, we’ll use a two year average using your two most recent T4s. And in situations where the most recent year is lower than the previous one, we have to use that income amount in the qualification.

If you’re self-employed, we’ll also use a two year average out of your tax documents but it’s a little more complex than that - I’ll save that topic for another day!

So, no mystery to how that changeable income is handled!

But here’s the key: you’ve got to be employed and actively earning that income. And your year to date income ought to be on track with that average or the most recent year.

Pretty easy once it’s understood!

Your mortgage renewal is a HUGE opportunity. Make sure to take advantage of that chance to update rate, term and product...
03/05/2024

Your mortgage renewal is a HUGE opportunity. Make sure to take advantage of that chance to update rate, term and product type according to your changing needs.

Markets change and the best mortgage strategies change with it. Your renewal is a chance to revise your cost of borrowing plan and aim for lowest interest cost over the next term.

Make sure to reach out with time to spare ahead of your renewal date!

Here’s the run down on new build mortgages:☝️ you qualify the same way you do on a resale home purchase ✌️you can select...
02/22/2024

Here’s the run down on new build mortgages:

☝️ you qualify the same way you do on a resale home purchase
✌️you can select either a locked in but pricier builder’s rate OR a completion mortgage where the rate will lock in shortly before possession
🤟be prepared to shell out a minimum 5% deposit or more when signing your contract, depending on the builder

We’ll see more and more new home developments as the housing shortage is addressed. So familiarizing yourself with the options will be important!

Here’s a little debt strategy that could help boost your mortgage qualifying power. If you’re carrying some debt and pla...
02/13/2024

Here’s a little debt strategy that could help boost your mortgage qualifying power.

If you’re carrying some debt and planning to purchase a home, and you’ve got an opportunity to attack some debt, this should be the order of priority:

1. Payout or down credit card or line of credit debt. When you make large payments against these balances, the way that debt is qualified in a mortgage application is immediately changed for the better. And to be honest, at 19%+, why not go after this debt first.

2. If possible, pay out short term loans like Fairstone and Easy Financial. Not because it reduces the monthly payment but because having those paid off paints a nicer picture for mortgage lenders.

3. Lastly, tackle any other debts if you’re able. Large payments against auto loans do not reduce the monthly payment. And honestly, who would want to extend the amortization on an auto loan? And student loans normally come with low payments and low interest. If you have balances that are almost paid in full, go ahead and pay them off. But tackle the points above first.

Voila!

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Calgary, AB
T2T4Z6

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