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Kathy Weeks
Mortgage Broker
Office: 403-527-4000 Cell: 403-502-6181
Fax: 403-528-4001 Email: Send an Email
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!