20 Minute Pre-Approvals – Call Now
First Time Home Buyers
Buying a Home in Red Deer? We can have you a Pre-Approval in less then fifteen minutes, Lock in a low rate good for 120 days and you can shop with Confidence! We are Red Deer mortgage experts.
Renewals Term at an end? Don’t just sign your banks first offer, let us help you get the best rate in Red Deer!
Are you looking to save money? Refinancing your home can give you lots of availability to save money monthly! You can pay out existing unsecured debts holding higher interest rates and payments. You can extend your amortization to lower your mortgage payments or we can simply save you thousands on a lower mortgage rate for your Red Deer refinance.
We offer preferred mortgages and rates from these lenders and more!
Whalen Mortgages should be your First Choice when looking for help on your Red Deer Mortgage. I don’t work for the Banks, I work for you!
Using my service as Red Deer Mortgage Broker is free. Our services are free because we are paid by the bank and they all have to compete on rates or we simply do not use their service. Mortgage’s are not complicated and do not need to take weeks to get approved. In less than 24 hours we can have an accepted offer on a property approved by the lender and or the insurer.
We can help you find a mortgage lender that will give you the lower interest rate for the type of mortgage you want. We’re ready to guide you through the process of getting pre-approved for a mortgage before you buy your first home. We know how to help you buy a new home using equity in your current home, whether you want to sell that property or rent it out. We also have experience with family members helping others buy homes or buying a house for a relative to live in. We should be your first choice when refinancing or simply transferring a mortgage, whether the renewal is coming up on your mortgage or you want to get out of that adjustable rate mortgage before interest rates rise. Call Jodi Whalen today to get your Red Deer Mortgage approval with the lowest interest rates in Red Deer. We are your Trusted Red Deer Mortgage Solution.
Renting in Red Deer is expensive, why not buy your own home for what you pay in rent. Why should you buy a home now instead of continuing to rent? First, when you buy a home, you’re building equity with every home payment. You’re paying off the debt and making progress toward owning your home outright. Second, you could probably own a home larger than your current apartment for the same amount of money you’re paying each month in rent. Third, once you lock in a mortgage payment, the rates won’t go up, unlike your rent.
Whalen Mortgage is especially popular with those who have been turned down for a mortgage elsewhere. We know that different lenders have their own, unique criteria for approving a mortgage. Whether you’re self-employed without good record keeping, have an irregular income or built-in overtime, we know how to find the lowest cost mortgage and ensure that the deal is approved.
Why should you work with a mortgage broker like Whalen Mortgages? We have experience working with every lender in the area. We can help you find the mortgage that fits your budget and your needs. If you’re buying a home to live in but may move in the future, let us find you a portable mortgage. If you want to buy a new home before your current one sells, we’re ready to use the ideal combination of mortgage projects to pull equity from the current house to raise the down payment for the new home. Then you can rent out the old home or sell it at your leisure.
I believe in transparency and ensuring you understand the mortgage you pick. There are some products that do not allow you to take your mortgage with you if you sell your home and want to port your mortgage some really low rates that come with high penalties if you break your mortgage early, . I believe in educating the client on perks and downfalls of the products and rates offered. Certain penalties on a $300,000 dollar home if you break your mortgage early can hold a penalty of $17,000 compared to a $4,000 penalty at another Financial Institution. Let me help you get to a lender that fits your needs. A lender you pick after understanding the lenders products. Informed decisions always result in the best outcome. Something that works for you!
I RUN MY BUSINESS OFF REFERRALS AND ESTABLISH FRIENDSHIPS WITH ALL MY CLIENTS. I FIND WORKING WITH HONESTY, TRANSPARENCY AND KINDNESS BUILDS THE FRIENDSHIP AND TRUST. THIS IS WHAT I BASE MY BUSINESS AROUND AND IS THE FOUNDATION OF HOW I LIVE MY LIFE.
I am a problem solver, and fight hard to get your deal approved. I exhaust all options and will not stop until we have an approval. I will help prepare you for home ownership and give financial coaching and advice to get you where you need to be to purchase a home. I will find different solutions to allow you to qualify for that house you always wanted. We have options for borrowed down payment also.
Working with me you will feel confident in the mortgage and lender/bank you choose. Our team of experienced Red Deer Mortgage Brokers will help make the financing enjoyable and get you the best mortgage rate in all of Red Deer.
Red Deer Mortgage Broker
Start with a pre-approval. Continue with looking at homes with confidence. Then once you find the perfect home we seamlessly get your mortgage on the perfect Red Deer home approved.
Barb McIntyre Top Red Deer Realtor
What perks come with using a Local Mortgage Broker?
We understand the local real estate market, and we know the rules and restrictions that apply to every mortgage product offered by local banks and credit unions. We worth with Red Deer clients as well as people from every province in Canada, whether they are moving to Red Deer or commuting to Red Deer to work while using your income here to buy a home for their families living elsewhere we have a Red Deer Mortgage Product for you. We are your Trusted Mortgage Specialist in Red Deer.
Are there 0 % down Mortgages?
Unfortunately, they have been discontinued however there are products such as the flex down mortgage with the ability to use your own line of credit for the down payment but restrictions apply. If you have your own down payment you can get a cash back mortgage however they have way higher interest rates. No money down mortgages were discontinued. It is no longer an option to bundle mortgages so that you can use one loan to raise the down payment on a new home unless you’re using equity in your existing home as a down payment on your next home. Whalen Mortgage knows how to arrange for a mortgage against existing properties so you can buy a new home. We also work with family members providing a down payment for the new home buyer or buying a home for a relative
Can I tap into my RRSP funds as a First time home buyer?
Yes! If you are a first time home buyer, you can withdraw a down payment from the RRSP without being taxed on the withdrawal. If you sold your home and put the money back in your RRSP before renting for a couple of years, you have the option of doing it all over again tax-free. Contact your RRSP investor on your eligibility for withdrawing money from your RRSP for a down payment, and then contact Whalen Mortgage to get pre-approved for the right mortgage for you.
What are the rules for buying a second home or vacation property?
You can buy a vacation home with as little as 10% down. If you want to buy a home that a family member will live in full time, you can do so with as little as 5% down.
If I want to buy a rental what should I know?
To buy a rental you will be required to put 20% down payment. Anything less than 20% down requires CMHC or Genworth mortgage insurance and they only support and ensure the house you live in also known as your primary residence. A rental is an income property and requires a minimum of 20% down payment.
This is not my first home, how much down payment will I need?
You should only need 5% down payment as long as it is your primary residence regardless if it is not your first home purchase. The requirement is it needs to be your primary home to qualify with as little as 5% down payment. If you start to get over a million in total mortgage exposure or the application as a full is weaker they may want 10% down payment to help mitigate risk!
What are my options if I have a house and want to turn it into a rental?
If you’re buying a new home as a primary residence and want to rent out the old property, you can do so with as little as five percent down on the new property. Our rental offset options allow you to wash away the debt of the old home and free up your debt load when buying a new home. We are your first Red Deer Mortgage Broker choice!
Do you work with lenders that support housing programs/incentives?
Another benefit of working with a local Red Deer mortgage broker is the fact that we understand the house programs and incentives employers in our area offer. We know how to properly utilize a living allowance, down payment assistance or mortgage subsidy when applying for a mortgage to ensure you qualify for the home you want. We also know how to minimize the odds of rejection because you didn’t know how to list your driving allowance, built-in overtime, shift differentials or bonuses on your mortgage application. Just leaving off one of these line items could prevent you from qualifying for a mortgage because of your debt to income ratio.
Why should I use a Red Deer Mortgage Broker?
Mortgage Brokers are independent of the bank and use multiple lenders to get the best interest rate for your Mortgage. All the lenders compete on rates. I believe in informing the clients of all the products available and restrictions or perks each lender offer.
Mortgage lenders throughout Canada have many different specialized mortgage products to fit different client’s needs. I can work on your mortgage in any province. I can refinance your current Red Deer home with the lowest mortgage rates. Or just renew your Red Deer Mortgage for the best rates.
As a Red Deer Mortgage Broker, I understand how those products apply in our unique market where overtime, bonuses, housing allowance and shift differential income are common. As a Red Deer Mortgage Specialist, I understand each mortgage is unique and will keep on top of all the changes to ensure I find a mortgage that fits your needs.
I work around your schedule and am always available, if you call expect a call back in 10 minutes. No waiting for appointments or approvals. Let me get you pre-approved ASAP. My clients are my top priority. Remember I work for you, not the Banks! I want to tell you congratulations the house is yours, this is the primary reason I love my job. Check out more about your Red Deer Mortgage Brokers.
Raving Client Reviews
We thought buying a house wasn’t going be an option for a few more years, however with the knowledge and helpful direction by Jodi we were in our own home within 90 days. Excellent service and a delightful person to work with. We highly recommend her.
Working with Jodi has been a great experience. My wife and I have used Jodi’s services to obtain two mortgages and both times Jodi was knowledgeable, organized, and quick to resolve any issues that popped up. If you are looking for a hassle free mortgage approval contact Jodi.
The most helpful lady I have met! She helped me and my fiancé buy our first home together! After trying another broker and a bank broker they both wanted me to sign a contract which scared me. I talked to Jodi who reassured me that there would be no obligation to stick with her if I was unhappy. I decided to work with Jodi, she got me the best interest rate and lender!
Jodi helped my financing and it seemed like a breeze! Spending much time going over things I didn’t understand, making me feel very comfortable working with her knowing she was out to help me not make a sale.
You are making the best decision to work with Jodi!
Thank you again Jodi!
Jodi by far exceeds my expectations with any real estate transaction or mortgage approval. As a realtor I have seen many banks and mortgage brokers and I can say without any hesitation Jodi is the best I have ever seen. Her approval time is the fastest I have ever seen and her communication skills are exceptional. You will always know what is going on during your mortgage approval. Jodi always gets the deal approved when the banks struggle. I recommend her with the highest confidence, knowing how hard she works you will not be disappointed.