Merry Christmas

By  Leann Scarlett |   | Posted in " Alberta Proud, Mortgage Broker Alberta, Red Deer Mortgage Broker, Universal Mortgage Solutions "

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In the hustle and bustle of today, may you have time to sit and observe. Observe the ordinary ... the ordinary of the crisp winter air, the warmth of your favorite drink, the ordinary of a quiet moment ... and once you are here think of something or someone you are grateful for. As I sit in my quiet office, getting ready to shut down the computer for some time with my family and friends... Know that I am grateful for you.. all the stories you shared, your dreams and your goals :) May the spirit of the season fill your heart and home……


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First Home Savings Account

By  Leann Scarlett |   | Posted in " #First Time Home Buyers Savings Plan, Alberta Proud, Broker Red Deer, Down Payment, First Time Home Buyer, Mortgage, Mortgage broker, Mortgage Broker Alberta, Mortgage Broker Red Deer, Ponoka Mortgage Broker, Red Deer Mortgage Broker, Rocky Mountain House Mortgage Broker, Universal Mortgage Solutions, Working with Realtors "

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The deadline is approaching to contribute to the First Home Savings Account for 2023 tax year. If you are considering buying a home in 2024 or beyond this may be a great way to start saving for that home.    I will refer to this progarm as "FHSA" as we go forward.   The FHSA is a combination between an RRSP and a TFSA account (I wrote a blog in September bout this that can be found under blogs on my website)   This post is just a quick "Hey, Don't miss the window to contribute for 2023" (it's December 31, 2023)   Call me if you have……


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What A Ride 2023

By  Leann Scarlett |   | Posted in " #First Time Home Buyers Savings Plan, Alberta Prosperity, Alberta Proud, Alternative Mortgages, Broker Red Deer, Consolidation, Down Payment, First Time Home Buyer, First Time Home Buyers, FTHB, HOME BUYING, Home Buying 101, Home Equity Line of credit, Investment Mortgages, Metis Down Payment Assistance Program, Mortgage, Mortgage boker, Mortgage broker, Mortgage Broker Alberta, Mortgage Broker Red Deer, Mortgage Renewal, Ponoka Mortgage Broker, RE-FINANCING, Red Deer Mortgage Broker, Refinance, RENEWING, REVERSE MORTGAGES, Rocky Mountain House Mortgage Broker, Universal Mortgage Solutions, Working with Realtors "

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Wow the 12th Month of the Year… (how did that happen) 😊 2023 had some ups and downs. Higher interest rates, lack of inventory in the real estate market, uncertainty of where interest rates may go, the scare of a housing shortage, on and on. Interest rates have spooked some buyers, and honestly the interest rate really isn’t that high. Did you know that the average 5 year fixed rate over the past 10 years is 4.17% (twenty five year average 5.26%). We aren’t to far off that right now. At this writing, we are currently in the mid 5’s (this……


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First Home Savings Account (FHSA)

By  Leann Scarlett |   | Posted in " #First Time Home Buyers Savings Plan, Alberta Prosperity, Alberta Proud, Alternative Mortgages, Broker Red Deer, Consolidation, Down Payment, First Time Home Buyer, First Time Home Buyers, FTHB, HOME BUYING, Home Buying 101, Home Equity Line of credit, Investment Mortgages, Metis Down Payment Assistance Program, Mortgage, Mortgage boker, Mortgage broker, Mortgage Broker Alberta, Mortgage Broker Red Deer, Mortgage Renewal, Ponoka Mortgage Broker, RE-FINANCING, Red Deer Mortgage Broker, Refinance, RENEWING, REVERSE MORTGAGES, Rocky Mountain House Mortgage Broker, Universal Mortgage Solutions, Working with Realtors "

Here is a fantastic savings plan that the government has created. It's a hybrid of an RRSP and a TFSA, for the purpose of home ownership. What is it... here are the details... -As of April 1, 2023, financial institutions have the ability to offer the new First Time Home Buyers Tax Free Savings Account -Under the new plan, prospective first-time home buyers have the ability to save $40,000.00 on a tax-free basis -Similar to a Registered Retirement Savings Plan (RRSP), any contributions will be tax deductible -Withdrawals' from the FHSA to purchase a home are non-taxable, similar to a TFSA -The Plan includes an $8,000.00……


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Are you Métis ? This Blog is For You!

By  Leann Scarlett |   | Posted in " Alberta Proud, First Time Home Buyer, Metis Down Payment Assistance Program, Mortgage broker, Ponoka Mortgage Broker, Red Deer Mortgage Broker, Rocky Mountain House Mortgage Broker "

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Did you know there is a Métis down payment assistance program. That's fact and it's back!  here are some of the details: Owning a home is now within your reach! Eligibility Criteria Must be a citizen of the Métis Nation of Alberta in good standing (at least one applicant must be an MNA citizen in good standing and their name must be on the title of said purchase). Must be gainfully employed NEW! Annual family maximum gross income of $150,000.00 Must be able to qualify for a mortgage with a major bank or financial institution  Must not own any other home currently or within the past three years. Must be 18……


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Graduation

By  Leann Scarlett |   | Posted in " Alberta Prosperity, Alberta Proud, Alternative Mortgages, Consolidation, First Time Home Buyers, HOME BUYING, Home Buying 101, Home Equity Line of credit, Investment Mortgages, Mortgage Broker Alberta, Mortgage Broker Red Deer, Mortgage Renewal, RENEWING, REVERSE MORTGAGES, Working with Realtors "

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Graduation is such a special time in ones life.  The 1st  accomplishment for many.  A minimum of 12 years of perseverance, determination and hopefully some fun in the mix.   For some of the Grads in Red Deer, I have had the pleasure of meeting them, being in their classrooms (or on zoom), doing a presentation on credit.  The do's and the don't of applying for credit, of maintaining credit and how to keep a good credit score.  Each presentation I give them 3 take a-ways, take a-ways to go home with, to tell their parents about what they should be doing to help……


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Alberta Proud

By  Leann Scarlett |   | Posted in " Alberta Prosperity, Alberta Proud, Broker Red Deer, Consolidation, First Time Home Buyer, First Time Home Buyers, HOME BUYING, Home Buying 101, Mortgage, Mortgage broker, Mortgage Broker Alberta, Mortgage Broker Red Deer, Mortgage Renewal, RE-FINANCING, Refinance, RENEWING, REVERSE MORTGAGES, Universal Mortgage Solutions, Working with Realtors "

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Alberta on the Rebound... What does that mean to you... Where are property values going... What about those interest rates  So many questions for people wanting to get into home ownership or wanting to upgrade their homes. Is it time to buy and move? the simple answer is absolutely YES Alberta's economic cycle is one that is Unique in Canada. We have big swings. The Alberta "Boom and Bust" effect  So from a life time resident of Alberta and having strong ties to the Oil and Gas sector my advise for you is this, hang on for the ride :))  The wave of people from other provinces en route to Alberta is astonishing. ……


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Some Documents to Gather

By  Leann Scarlett |   | Posted in " Broker Red Deer, Consolidation, First Time Home Buyer, HOME BUYING, Home Buying 101, Mortgage, Mortgage Broker Alberta, Mortgage Broker Red Deer, Mortgage Renewal, Refinance, Universal Mortgage Solutions, Working with Realtors "

I have put together a post here of what documents you may need to start gathering before applying for a mortgage.  I hope this helps you moving on the right path to your home ownership dreams :) …


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Are you Financially Ready to Purchase a home?

By  Leann Scarlett | 

 How much are you spending now? Calculate your household expenses. The first thing you need to figure out is how much you are spending now. What is your present household budget? How much are you now spending each month on household expenses? The Current Household Budget worksheet below will  help you take a realistic look at your current monthly expenses. Fill in all the figures that apply to you, and add them up. CURRENT HOUSEHOLD BUDGET: Detail average monthly expenses Rent $ Electricity $ Heat $ Water $ Maintenance/Repair $ Parking Fees $ Cable TV $ Internet $ Telephone/Cell Phone $ Vehicle Fuel $ Vehicle Repairs $ Vehicle Insurance $ Clothes $ Personal Hygiene Products $ Groceries $ Insurance Costs $ Prescription Drugs $ Dental Expenses $ Public Transportation $ Child Care $ Household Furniture and Decor $ Entertainment $ Cigarettes, Liquor etc $ Gifts $ Pet Care $ Education/Classes/Gym Memberships $ Loan Payments $ Credit Card……


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Purchase Plus Improvement, a quick guide for you

By  Leann Scarlett |   | Posted in " First Time Home Buyers, HOME BUYING, RE-FINANCING, RENEWING, REVERSE MORTGAGES "

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You found the perfect home, great location,  but its missing a garage or the kitchen is less than desirable? Let's talk about the Purchase + Improvement Mortgage... Purchase Plus Improvements is a great mortgage option for consumers looking to purchase a home that has great potential, but needs renovation. This program allows you to make improvements immediately after taking possession of your new home and have the costs rolled into one easy-to-manage mortgage. The idea is that immediately renovating your home adds to its market value and the mortgage is essentially based on that new and improved value. It’s a great way to purchase a home AND……


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