Sherwood Park’s trusted mortgage broker

🏡 Life Changes. Your Coverage Shouldn’t.

Whether you're buying your first home or renewing your mortgage, having the right life and disability coverage ensures your home and family are protected—no matter what happens.

If COVID has taught us anything, it’s that change is inevitable—career shifts, health changes, and unexpected life events can happen when we least expect them. That’s why having consistent, portable coverage is so important.

Many people rely on employer-provided insurance, but here’s what they may not realize:

🔹 Switching jobs? Your coverage doesn’t follow—you’ll need to reapply at your new age and health status.
🔹 Health changes? This could mean higher premiums or even not qualifying for new coverage.
🔹 Job loss? Your employer plan ends, leaving you unprotected.

But with mortgage life and disability coverage, your protection moves with you—even if you switch employers or lenders.

Before Moving Your Mortgage to a New Lender, Ask Yourself:

✔ Does your mortgage life & disability insurance move with you?
✔ If not, have you had any health changes?

That shiny lower rate may not be worth it if reapplying for coverage means higher premiums or even denial due to health changes.

If you didn’t take mortgage life & disability insurance when you first got your mortgage, the best time was then—the next best time is today.

📩 Want to learn more? Contact 1-866-677-4366 for advice about this product. For other insurance guidance, you can consult a licensed agent of your choice.

#MortgageProtection #LifeInsurance #DisabilityInsurance #CoverageThatMovesWithYou #HomeownershipSecurity

At 18, you now have the opportunity to start building your credit history, and trust me, it's a big deal. Your credit score influences everything from renting an apartment to buying a car or even getting a mortgage down the road. And you may not be thinking of that for a few years, but here's why managing your credit now is essential:

Establishing a solid credit history early on sets you up for financial success in the future. Lenders look at your credit report to determine your creditworthiness, so starting now means you'll have a longer credit history by the time you need it.

So, how can you start managing your credit responsibly?

You might want to begin with a secured credit card and maintain a low credit limit. Ease into credit as applying for a number of cards at once can negatively affect your score.

Your payment history makes up a significant portion of your credit score, so always pay bills and credit card balances on time, even your cell phone bill. Set up automatic payments so you don’t forget.

Aim to keep your credit card balances low relative to your credit limits. Ideally keep your balance at 30-50% of your credit limit as high credit utilization can negatively impact your score. Keeping your balance near limit, even if you pay it off in full each month can also have a negative impact.

Check Your Credit Report: Regularly review your credit report to catch any errors or signs of identity theft early on. You can do this for free from sites like myborrowell.

Remember, your credit score is a reflection of your financial habits. By managing credit responsibly from the start, you're setting yourself up for a bright financial future. If you have any questions or need guidance, don't hesitate to reach out. Here's to smart financial decisions and a prosperous journey into adulthood!

Closing costs extend beyond your down payment and include various expenses associated with a new home purchase. Here's a breakdown of some common costs:

Legal fees

Working with a lawyer is essential for handling the legal aspects of your purchase and you can expect to spend between $1200 to $1500

Title insurance This protects against any issues with the property's title, such as existing liens or ownership disputes. The cost of title insurance can vary based on the purchase price of the property.

Home insurance

Mortgage lenders require you to have property insurance to protect against potential damages or losses. The cost of property insurance will depend on factors such as the property type, location, and coverage amount.

Adjustments

On closing day there may be adjustments for property taxes. You may be responsible to reimburse the seller if they have prepaid all or a portion of their property taxes.

Generally, lenders ask to show an additional 1.5-4% of the purchase price available to cover closing costs.

As we conclude our 12-week First-Time Home Buyers Series, I want to thank you for your participation whether it was a like, share or comment. Looking ahead, I'd love to hear your thoughts on future topics. What would you like me to cover next? Your feedback shapes the content, and I'm excited to bring you more valuable insights