July 30th, 2010 
1001 Kingsway Avenue SE Medicine Hat, AB T1A 2X7


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Kathy Weeks

Mortgage Broker

Signature Service Financial

Office: 403-527-4000         Cell:    403-502-6181

        Fax:    403-528-4001         Email:  Send an Email

 

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Important Mortgage Terms:

Conventional Mortgage:

 A mortgage up to 75% of the purchase price or the value of the property. A mortgage exceeding 75% is referred to as a "Hi-Ratio" mortgage and the lender will require insurance for that mortgage.  

Amortized Mortgage:

 A mortgage requiring regular payments which include both principal and interest sufficient to fully repay the loan by maturity.


Many wonder what the differences between a pre-qualification and a pre-approval are. To make it simple for you, all you need to obtain before starting to find your dream home is a pre-approval!

 

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