Collin Bruce Mortgage Team

Are you thinking about purchasing a second property? The link below will help you to learn everything you need to know and provide you with the keys to success to expand your financial portfolio and ensure stability for the future. https://dominionlending.ca/buying-a-home/second-property

Hearing testimonials from our clients is always appreciated. We love to hear all about their experience with us from their perspective. Thank you again Chris for sharing!

Tip Tuesday Pulling equity out of your home: With a refinance the government will allow you to refinance up to 80% of the value of the home.... This is a government rule so consistent among all the banks. As an example: $400,000 house value $300,000 current mortgage balance. $400,000 * 80% = $320,000 (max refinance) $320,000 - $300,000 = $20,000 equity can be taken out of the home. See more

From our entire team, we hope you enjoy your Family Day holiday!

Tip Tuesday Spring is just around the corner and the start of the busy real estate season. If you’re looking to speed up the process of selling your home, we cover in detail what you can do to help make that happen on our blog. Check it out here:... https://collinbruce.ca/tips-for-speeding-up-the-sale-of-yo/ See more

Happy Valentine’s Day We hope you have a special day!

7 things to know before buying your first home! Read the full article here https://edmontonjournal.com//7-things-to-know-before-buyin

The weekend has finally arrived

Keep up to date with all the latest mortgage information on our app. You can even get pre-approved for a mortgage quickly and easily!

Are you self employed and looking for a new mortgage or a renewal? One of our trusted team members can help! We will dedicate our time to ensuring you get the right mortgage for you and your family. Give us a call today at 780-436-2511

Collin and his family started winter camping this year and they have been enjoying it so much! Being able to escape to nature year round has been amazing for their crew! Have you ever done any winter camping?

Tip Tuesday First Time Homebuyers Tips! - pay off any debts and work on your savings... - apply for a mortgage to see what kind of house you can afford - do your research about your desired neighbourhood - take your time and visit a number of open houses - make an offer Read in more detail all about these helpful tips here: https://collinbruce.ca/first-time-home-buyer-tips/

Mark your calendars!

Our skilled team is here to help you through the mortgage process and answer any questions that may arise. Contact us today for all of your mortgage needs!

Feature Friday Let us introduce Thera Sullivan. Thera has been working in the finance industry since 2004 and loves dealing with mortgages specifically. She has been a part of our team for the past 10 years and we are so lucky to have her. If you’re in need of a mortgage, give Thera a call!

Tip Tuesday Fixed rate versus adjustable rate mortgage This is a good strategy to implement if you are considering an adjustable rate mortgage. As an example, someone is debating whether to take a 5 year fixed rate mortgage around 3% or a 5 year adjustable rate around 2.25%. This means that they are comfortable with both payments. If they go on an adjustable mortgage, the day after the mortgage funds, they can increase the payments to match what the payments would be on the fixed rate. Most lenders will allow you to do this without penalty. 100% of the payment increase goes to principal. This helps you pay your mortgage off faster. If (when), the government raises prime, they can decrease the extra payments, keeping the payments the same as what they are now.

We’re talking all about speeding up the sale of your home on the blog! If you’re looking to sell your home fast, this is great read https://collinbruce.ca/tips-for-speeding-up-the-sale-of-yo/

We want to wish you all a safe and happy Thanksgiving weekend!

We are loving this beautiful weather Edmonton has had this fall. Collin and his family have been spending their free time exploring the great outdoors with the kids

Happy Wednesday! The long weekend is almost here.....

Last year I did a post on how interest rates affect the amount of principal you pay. At an interest rate of 2.99%, on a 25 year amortization, this is where you start paying more principal than interest over the 5 year term. As an example: $300,000 mortgage... 25 year amortization 2.99% 5 year fixed rate Over 5 years you pay $41,466.33 interest and $43,625.67 principal. With today's record low rates, the numbers differ drastically. $300,000 mortgage 25 year amortization 1.69% 5 year fixed rate Over 5 years you pay $23,206.45 interest and $50,349.65 principal. So twice as much principal to interest. It sounds like rates are going to stay this low at least until the end of 2021.

Edmonton housing sales jumped 35% in September! Get all the details from the Edmonton Realtors Association. https://bit.ly/3d5uzPZ

Thank you so much Chris for sharing your experience with us! We love to help our clients through the mortgage process and it’s always a bonus when we can help them save money too

The sun is shining and a new month has arrived What is your favourite thing about fall?

In case you missed it, here is a link to our September newsletter. You can sign up to receive our monthly newsletter on our website Click here: https://bit.ly/2EDfpor

What is the difference between a home appraisal and a home inspection? An appraisal is used to determine the value of the home. An appraisal is not required with all mortgages, but this is up to the lender. In most cases our lenders will cover the cost of the appraisal. A home inspection is not required by the lender but is a really good idea to get. ... The home inspection determines the the condition of the home and tips you off to any potential issues the property may have. A typical home inspection is around $400. We recommend Inspection Proof, www.inspectionproof.com. Don and his team will do thermal scans behind the walls, ceilings and floors to detect any moisture.

Top 5 most expensive homes in Edmonton

Collin and his family spent the weekend setting up for winter camping. Do you camp in the winter?