MASTER S CLUB CHANTELLE TAYLOR MORTGAGE SPECIALIST. Top 20% of Mortgage Alliance Professionals HOME BUYING GUIDE

Transcription

1 MASTER S CLUB 2015 Top 20% of Mortgage Alliance Professionals CHANTELLE TAYLOR MORTGAGE SPECIALIST HOME BUYING GUIDE

2 2 TABLE OF CONTENTS Congratulations & Welcome... 3 The Chantelle Taylor Advantage... 4 A Mortgage Alliance Broker... 5 Your Dream Home Team... 6 The Home Buying Process... 7 Mortgage Documentation Required... 8 Payment Options & Calculations... 9 Purchase Plus Improvements Description Of Closing Costs Mortgage Glossary Moving Checklist Directory... 15

3 3 CONGRATULATIONS BUYING A HOME IS A GREAT EXPERIENCE WITH THE RIGHT BROKER This guide has been created for you. With a step-by-step approach: whether you are buying a house, a condo, a new build or an existing residence, this Guide will help you through the process. I want to make sure you understand my role as the broker. I also want the roles of your realtor, lawyer, home inspector and so on. I also want to help you understand the mortgage approval process and any and all costs involved in buying a home. This Guide should answer most of the questions you already have or will have along the way. Should something come up along the way that needs more clarification, I am just a call away and can keep us on track to a great mortgage/home purchasing experience. Congrats, on taking the first steps to home ownership. Making educated decisions moving forward in one of the biggest purchases you may make will help to keep the process as stress free as possible. Chantelle Call me for more Information:

4 CHANTELLE TAYLOR MORTGAGE SPECIALIS T 4 THE CHANTELLE TAYLOR ADVANTAGE We at Mortgage Alliance are an independent team of mortgage professionals. Licensed in every province, Mortgage Alliance serves more than 40,000 Canadians annually that are looking for the best in service, rates, mortgage solutions and other financial products. We are an independent team of mortgage professionals that have achieved national presence through recruitment and development of entrepreneurial people. We believe that Canadians deserve the choice of mortgage providers, an easy and convenient financing process and the unbiased counsel of a dedicated and informed mortgage professional. We believe that an independent advocate working for the consumer affords a better value than traditional methods of getting a mortgage. Our mission is to inform Canadians of their options when choosing a mortgage by building a brand that they know and trust! A brand that personifies the Five Diamond Credo of Mortgage Alliance Service; ENTHUSIASTIC APPROACHABLE EMPATHETIC SINCERE ACCOUNTABLE WHY USE A MORTGAGE BROKER I could go on and on about why you should use a mortgage broker, there are many reasons that make the broker option more favorable. Ultimately it comes down to the relationship. If you want to work with someone who is dedicated to you and your family, then working with Chantelle Taylor is the best option available. With flexible hours and an enthusiast drive to make your home ownership dreams a reality Chantelle will get the job done. RIGHT BROKER RIGHT MORTGAGE CalgaryMortgageLoan.ca crtaylor@tmacc.com

5 5 A MORTGAGE ALLIANCE BROKER CHANTELLE TAYLOR A little bit about me. For as long as I can remember, I have wanted to work for myself, under my terms and with the option to be financially successful. In 2012 I made a big decision and enrolled in the RECA course to do just that and become a Mortgage Broker. With the support of my husband and my family, I entered into an unknown world. After just a few years I could see how great that decision was, I now have the ability to help my clients buy homes, we fulfill their dreams and mine all in one. I m able to still be a great partner to my husband Matt, and I m able to successfully work and have a family. Our son was born in 2014 and thanks to my amazing clients I was able to continue my business; now as a mom and a career woman! I m happy to say now I can relate even more to my clients as I ve bought my first home and I ve become a mom. I understand the late nights and I understand that some days things don t go as planned or just don t go at all. I d love to get to know your family and friends and look forward to building a great relationship going forward in your journey of buying a home! LENDERS: 6 B2B Merix Canadiana National Bank CFF Bank Optimum Equitable Bank RMG First National Radius Home Trust Street Capital ICICI Scotia Bank Lendwise MCAP TD Bank Private lenders & more Call me for more Information

6 YOUR DREAM HOME TEAM YOUR MORTGAGE AGENT A Mortgage Agent, Specialist or Broker is the starting point of the buying process. A lot of people will begin by finding the right home, ultimately it s very helpful to you the buyer to know how much home you can afford and what your monthly costs will be. Your agent will take the time to sit down with you or discuss over the phone with you what you need to provide and what you need to receive in order to qualify and buy a home. The agent you work with acts on your behalf to find the best lender for your situation, the best rates available in your area and will represent you to the lender. In most cases, there is no cost to use a Mortgage Agent, as the lenders compensate them, in the form of a referral fee. Your Mortgage Agent also works with the mortgage insurance company, 3 of which are available and offer several products depending on the needs of the buyer; Canada Mortgage and Housing Corporation (CMHC), Genworth Financial (GE) and Canada Guaranty (CG). YOUR REALTOR The Realtor s role is to work with you in finding a property. A lot of your time with be spent with the Realtor you choose, it s important to pick someone you like and someone who understands your family and your needs. Once you ve established your home needs, they will begin researching the housing market on your behalf. Generally you will begin receiving information about new properties as they come available and you and your realtor will begin viewing these homes to decide which one is the dream home. At this point your Realtor will prepare an offer, they will represent you through the negotiations. In most cases, you do not pay a fee to the Realtor who represents you when you are buying a home; the seller of the home pays the fees. Real Estate Agents are licensed through RECA (in Alberta) and have to follow the same level of education and credibility that your mortgage broker does, it s important to do your research and choose the right realtor for you APPRAISER The appraiser is a licensed professional who takes market information and determines the value of your home. There is more than one process used in the marketplace to determine value and each appraisal company uses their own method. The appraiser visits the property and creates a report which is provided to the lender to confirm property values. The Appraiser role varies depending on the lender, the amount of money used as down payment as well as the property type. If you want more information on this part of the process, it would be ideal to talk about it more in person. HOME INSPECTOR A home inspector provides you with a written report of information on the construction of your home. The inspector will inform you of any repairs that need to be done in the near future, and will let you know what types of repairs you can expect in the next few years. Home Inspections are a great way to make sure you are buying a safe, well built home. Your Realtor or Mortgage Agent can provide you with names of quality home inspectors in your area. LAWYER Your lawyer (or notary) will transfer the property title to your name and otherwise ensure that your interests are protected in the purchase transaction. Your lawyer liaises with your lender to ensure they have all of the required paperwork to process the sale. Your Realtor or Mortgage Agent can refer you to a lawyer if you do not have one. MORTGAGE LENDER Your Mortgage Agent will recommend the lender that best suits your requirements. The majority of your contact with the lender will be after you obtain your mortgage funds, in the future you may want to know your balance or request a statement RecallChek Free for All Appliances Free Followup Visit Infrared Scan Included Active CAHPI & internachi Member Mold Sampling & Analysis Available Reports with Pictures in 1 Hour Life Cycles & Costs Guide Included Visa, MasterCard, American Express, Debit License # & # Jeremy Cook, RHI inspectonthemoney.com

7 THE HOME BUYING PROCESS 7 STEP 1: PRE-APPROVAL When you first decide you want to purchase a home, it is wise to get a pre-approved mortgage. In addition to letting you know how much you qualify for, a pre-approval also guarantees an interest rate for a period of time, often 120 days, giving you ample time to find your dream home without the worry of a rise in interest rates. Pre-approvals are subject to the property meeting the lender s criteria and other conditions. STEP 2: HOUSE HUNTING Once you know your price range, your Realtor will begin researching the available properties and will show you homes that fit your criteria STEP 3: MAKING AN OFFER TO PURCHASE Once you ve found the home you are interested in, you will make an offer. The offer will be subject to financing, meaning that the offer depends on whether or not you are able to obtain a mortgage on that property. Your offer may also have other conditions, such as subject to a satisfactory home inspection or subject to review of the condo documents. Once the offer is accepted, you will provide a copy of the purchase and sale agreement to your Mortgage Agent. STEP 4: FINALIZING THE FINANCING Your Mortgage Agent will work with the lender, insurer, and appraiser to get you final approval on the financing. You may be asked for further documentation at this time. You will need to collect the requested paperwork and submit it to your Agent in a timely fashion. STEP 6: PLANNING YOUR MOVE The lawyer is now receiving and preparing the mortgage documents. Use this time to start preparing for your move. Please refer to the moving checklist on page 14 for helpful hints. STEP 7: SIGNING WITH YOUR LAWYER The lawyer will call you in to sign, usually about a week prior to the closing date. The closing date is the day the money is given to the sellers, and the property is transferred into your name STEP 8: TAKING POSSESSION The possession date is the closing date and the day you receive the title of your home and you receive your keys, usually between noon and 2. STEP 9: YOUR FIRST MORTGAGE PAYMENT Unlike with rent, which is paid in advance, you make your mortgage payment at the end of each payment cycle (e.g. monthly, semi-monthly, bi- weekly). For example, if the purchase of your home was completed on June 1, and you chose monthly payments, you will not have a mortgage payment until July 1. If you chose weekly payments, the payments would come out at the end of every week. You can arrange your payment frequency with your Agent. STEP 5: FINALIZING THE PURCHASE Once you have met all of your financing conditions, your Agent will instruct you to remove the subject to financing condition from your purchase contract. This is done with your Realtor. You may remove other conditions at the same time (if they have been met), such as subject to a satisfactory home inspection. Once all of the conditions are satisfied, you have a firm sale. Call me for more Information

8 MORTGAGE DOCUMENTS REQUIRED 8 In order to process your financing request, Mortgage Agents require documentation for the lender to verify the information in the application. Please note that there may be additional documentation required that is not listed below. PROOF OF INCOME Please provide the following documents: EMPLOYEES 1. Employment confirmation letter on company letterhead If you are on salary, confirm your salary amount, position and length of employment If you are paid hourly, confirm your hourly rate, number of guaranteed hours worked per week, position and length of employment 2. Two most recent pay stubs from within the last 60 days 3. Two years of T1 Generals and Notice of Assessments *(if using bonus or overtime income) COMMISSIONED OR SELF-EMPLOYED 1. Two years of business financial statements 2. Two years of Notice of Assessments 3. Two years of T1 Generals * Notice of Assessment is the summary form Revenue Canada sends after your income tax has been filed. It specifies what you claimed on your taxes last year and indicates balance owing. If you do not have a copy of your Notice of Assessment, you can visit: DOWN PAYMENT VERIFICATION The source of your down payment must be verified. Please provide the following documents: 1. If your down payment is from savings in your bank account, provide three months of bank statements. The statements must state your account number and verify the account is in your name 2. If your down payment is from investments (RSP,GIC,stocks,bonds), provide a copy of a recent quarterly account statement or a 90 day history as well as proof of redemption. 3. If your down payment is a gift, a gift letter from an immediate family member is required together with proof that the funds have been deposited into your bank account. (We provide the gift letter) 4. If your down payment is from the sale of an existing property, a purchase and sale agreement and current mortgage statement are required. ADDITIONAL DOCUMENTATION: Please provide the following additional documentation: 1. Purchase and Sale Agreement and MLS listing for the new property 2. Copies of any waivers and amendments 3. Copy of deposit cheque(s) 4. Void cheque for the account from which mortgage payments will be withdrawn 5. Name of the lawyer you will use for this transaction Maurice Roy #105, Avenue NE Calgary, AB T2E 7S8 Office: (403) Cell: (403) Fax: mauriceroy@realtyexecutives.com Broker Independently Owned & Operated

9 PAYMENT OPTIONS & CALCULATIONS 9 CALCULATING MONTHLY MORTGAGE PAYMENTS Your Agent can calculate your estimated monthly mortgage payments considering the amount borrowed, interest rate and amortization period. To calculate your mortgage payment, you can visit our website at then follow the calculator menu. ADVANTAGE OF FREQUENT PAYMENTS Paying off your mortgage is a more flexible process than you may think. By taking advantage of the increased payment frequencies that lenders offer, you can pay off your mortgage faster and save thousands of dollars in interest. Your agent can discuss the options available from the lenders who conform to your borrowing strategy. Payment Frequency Payment Amount Years to Pay off Mortgage Estimated 5 Year Interest Paid Monthly $ Years $ 55,477 Bi-Weekly Accelerated $ Years $ 56,660 *** Above example is based on a $400,000 mortgage with an interest rate calculated semi- annually, not in advance, and assumes that the interest rate remains at 3.0%. These numbers are estimates and are subject to change. ADDITIONAL POINTS TO CONSIDER More than half of First-Time Buyers used a mortgage broker to arrange their mortgage CMHC reported in April 2015 In the 2015 survey, 55% of First-Time Buyers reported arranging their mortgage through a mortgage broker, compared to 42% for Repeat Buyers. Irrespective of mortgage channel used (broker vs. lender), the desire to get the best rate or deal is the key driver, with 57% of broker users and 54% of those using a lender indicating this factor had a great deal of influence on their purchase decision of whether to use a lender directly or go through a broker. About four-in-ten First-Time Buyers received a recommendation to use a specific broker (44%) or lender (40%). Of those receiving a recommendation to use a specific broker, 79% ended up using the broker channel. Similarly, 98% of those receiving a recommendation to use a specific lender used the lender channel. These recommendations are most likely to come from real estate agents, 36% in the case of broker recommendations and 31% of lender recommendations. Mortgage brokers play a significant role in First-Time Buyers switching financial institutions. Among First-Time Buyers switching financial institutions, 72% arranged their mortgage through a broker. When arranging their mortgage directly with a lender, In almost half of the cases (43%) First- Time Buyers dealt with someone who exclusively specialized in mortgages. Call me for more Information

10 UPGRADES REQUIRED? 10 Use a PURCHASE PLUS IMPROVEMENT mortgage to include the cost of renovations in your mortgage (up to $40,000 or 10% of the property value). As specialists in this type of unique mortgage, Your Advisor can walk you through all the steps. Most lenders offer this type mortgage, but not all, make sure to inquiry about this process before the approval is started. Pay someone else to do the work maybe you just don t have the time or inclination to do the renovation yourself or want it done fast so you can move in quickly! Why not at least have the choice? This unique type of mortgage is designed for those who wish to purchase a home or who already owns a home that may require some immediate upgrades. If the property isn t exactly what you want, then build it, renovate it, add it, upgrade it! Maybe you have a desire to add your own personal touch to your home or increase your living space, so create your own dream home by... u Adding a new or updated kitchen u Developing the basement for more living space u Updating or replacing the carpeting or maybe adding hardwood u Adding a garage or workroom u A new bathroom u A new roof u A more efficient central air or furnace system u Adding new siding, eaves or fascia u Replacing or updating doors and windows u Adding a swimming pool or major landscaping * Lenders can specify what they allow, make sure all quotes are detailed SO HOW DOES IT WORK? Let s assume that you have 5% down payment on your new home. Before the mortgage financing is arranged, written quotes are obtained from licensed contractors or suppliers for the repairs and/or the improvements to be done to the home. The application for mortgage financing is requested and is made for 95% of the purchase price plus 95% of the cost to complete the improvements. The lender will hold-back on closing the improvement portion of the mortgage until the work has been completed and inspected, normally within 120 days of closing. Once the work has been completed, the lender will advance the balance of the funds to either you or your contractors. WHAT DOES THIS MEAN? Let us give you an example with 5% down payment on a purchase: Purchase Price $400,000 x 95% $ 380,000 Cost of Improvements $40,000 x 95% $ 38,500 Total Mortgage $440,000 x 95% $ 418,000 Therefore, an application is made for a mortgage in the amount of $418,000, which represents 95% of the purchase price plus 95% of the improvements. After closing, the contractor or yourself complete the improvements as soon as possible and then the lender advances the hold-back. As a specialist in this unique type of mortgage, your Agent can answer all your questions and provide you with recommendations for great contractors.

11 11 DESCRIPTION OF CLOSING COSTS The following is a list of closing costs home buyers can expect with their mortgage. Be prepared for the lender to verify the information in the application. Please note that there may be additional documentation required that is not listed below. LEGAL FEES A lawyer or notary will be necessary in the home buying process. Your lawyer will prepare the mortgage documents, have you sign the documents, and will transfer the property to your name. Legal fees can vary depending on your purchase price and mortgage amount. Most lawyers websites provide a fee breakdown. APPRAISAL FEES An accredited appraiser will look at your home to verify the market value of your purchase. The appraiser will compare recent sales of similar properties to determine the estimated value of your home. He or she will provide a report to your lender that confirms the value. TITLE INSURANCE An insurance policy that protects you, the home owner, against challenges to the ownership of your home or from problems related to the title to your home. The policy provides coverage against losses due to title defects, even if the defects existed before you purchased your home. Title Insurance is completed with your lawyer. FIRE INSURANCE Fire insurance ensures you have adequate coverage to pay off your mortgage in the case of a fire. The lawyer will want proof that there is fire insurance in place with first loss payable to the lender when you go in to sign the papers at his or her office. PROPERTY TAX ADJUSTMENT You may have to pay some of your annual property taxes at the time of closing. This would be done when you sign at the lawyer s office. Because every situation is different, it is best to confirm with your lawyer what you will owe. INTEREST ADJUSTMENT If you have chosen monthly mortgage payments, and your payment comes out on the first day of the month, you may have an interest adjustment. If the purchase of the home closes on May 29, for example, you will have to pay for three days of interest on your mortgage (May 29-31). If the purchase closes earlier in the month, you may have a larger interest adjustment payment. It is best to find out from your lawyer the amount of your interest adjustment. HOME INSPECTION Many people choose to have home inspections, although most of the time it is optional. A home inspector will look through your home and provide you with his or her professional opinion on the construction of the home. The home inspector will advise of any maintenance required, and will let you know what kind of maintenance you can expect in the next few years. Your Advisor can provide you with names of certified home inspectors. UTILITIES CONNECTION CHARGES Some utilities charge a move-in or connection fee. You will need to contact utility providers to find out about their charges. Call me for more Information

12 MORTGAGE GLOSSARY 12 AGREEMENT OF PURCHASE AND SALE Often referred to as the Offer to Purchase, this is a written contract setting out the terms under which the buyer agrees to buy the home. AMORTIZATION PERIOD The time over which the mortgage is to be completely repaid, assuming equal payments. This means, for example, that when looking at a mortgage with a 25-year amortization period, it would take 25 years to reduce the balance to zero if all regular payments were made on time and the terms (payment, interest rate) remained the same. Amortization periods can go as high as 35 years APPRAISER An appraiser determines the market value of a house based on its condition, and the selling price of comparable houses recently sold in the area. CANADA MORTGAGE AND HOUSING CORPORATION (CMHC) A Crown corporation that was initially created to administer the National Housing Act and is Canada s only public sector mortgage insurer. CMHC is charged with administering government housing initiatives and works with community organizations, the private sector, non-profit agencies and all levels of government to help create innovative solutions to today s housing challenges. Genworth and Canada Guaranty are also available choices. CLOSING DATE The date on which a sale becomes final, funds are transferred from the purchaser to the vendor and the new owner takes possession of a property. COMMITMENT A letter / document is issued by a lender reciting the basic terms of a loan which, when accepted by the borrower, forms a binding contract. The commitment may have conditions attached to it that must be met before the contract can be finalized. CONVEYANCE The transfer of an interest in property from one person to another. DEBT SERVICE RATIOS Ratios that are used to compare borrowers debts to their incomes to determine if they can afford loans. With a Mortgage loan, we review Gross Debt Service Ratio and Total Debt Service Ratio. HOME EQUITY LINE OF CREDIT (HELOC) Type of line of credit that is secured by property collateral. It gives you freedom to borrow from it at anytime and also allows you different repayment options. HOME INSPECTION A visual inspection of the major components of a home, by a qualified individual, that gives the homebuyer a true and unbiased picture of the home s condition. INTEREST ADJUSTMENT DATE The date from which interest is calculated at the rate, and compounded at the frequency, set out in the mortgage contract. It is normally the first day of the month following the closing of the mortgage transaction. INTERIM FINANCING (BRIDGE LOANS) Interim loans are used to provide means of a down payment until the sale of your existing house is complete. In order to obtain interim financing, a firm sale must be in place prior to possession of your new home. MORTGAGE FIXED RATE A mortgage for which the interest rate is fixed for the term.

13 13 MORTGAGE OPEN A mortgage with no interest penalty for pre-payments. MORTGAGEE The lender. MORTGAGE DEFAULT INSURANCE A type of insurance that protects the mortgage lender in case the borrower defaults on the mortgage payments. MORTGAGE TERM The length of time the interest rate is guaranteed for a mortgage. In a mortgage, the term is the actual length of time for which the money is loaned. The term is usually shorter than the amortization period. Mortgage terms normally range from 6 months to 5 years or more, after which time the borrower can either repay the balance of the principal owing or re- negotiate the mortgage at current rates. MORTGAGOR The borrower. PREPAYMENT CLAUSE A clause inserted in a mortgage that gives the mortgagor the privilege of paying all or part of the mortgage debt in advance of the maturity date. PREPAYMENT PENALTY The sum of money (usually equal to an amount of interest) a lender may require from a borrower to repay all or part of any outstanding principal in advance. PRIME RATE The rate at which financial institutions lend to their customers. PROGRESS DRAW (ADVANCE) MORTGAGE A mortgage loan occurs when the funds are advanced in intervals as the house is being built. REAL PROPERTY REPORT (RPR) OR SURVEYOR S CERTIFICATE A formal statement signed, certified and dated by a surveyor, giving the pertinent facts about a particular property and any easements or encroachments affecting it. SECOND MORTGAGE A mortgage placed on real property that is already encumbered with one mortgage. Determination of first, second or third mortgage is by priority or registration (time and date). TITLE The legal evidence that shows the rightful owner of land. TITLE INSURANCE POLICY A contract by which the insurer, usually a title insurance company, agrees to pay the insured a specific amount for any loss caused by defects of title to real estate, wherein the insured has an interest as purchaser, mortgagee (lender) or otherwise. Call me for more Information

14 MOVING CHECKLIST 14 UTILITIES & SERVICES o TAXES (T.I.P.P) In Calgary: 311 o ENMAX o DIRECT ENERGY o SHAW CABLE o TELUS BUSINESS ACCOUNTS & SERVICES o BANKS o CREDIT CARDS o FINANCE COMPANIES o FINANCIAL PLANNERS o POST OFFICE o REVENUE CANADA PEOPLE & ORGANIZATIONS o FRIENDS & RELATIVES o BUSINESS ASSOCIATES o CHURCH o SOCIAL GROUPS PROFESSIONAL SERVICES o DOCTOR o DENTIST o LAWYER o BROKER o INSURANCE, LIFE o INSURANCE, AUTO & PROPERTY o VETERINARIAN FINAL MOVING DAY CHECK LIST o ALL METERS READ & RECORDED o TELEPHONE, CABLE & INTERNET DISCONNECTED o LIGHTS SHUT OFF o WINDOWS/DOORS SHUT & LOCKED o KEYS LEFT AS AGREED UPON o MAIL FORWARDED TO NEW ADDRESS o LEAVE FORWARDING ADDRESS WITH NEW OWNERS PUBLICATIONS & SUBSCRIPTIONS o NEWSPAPER o MAGAZINE * Canada Post offers mail forwarding. Visit your local office for pricing and information Call me for more informaton

15 15 DIRECTORY CHANTELLE TAYLOR - MORTGAGE SPECIALIST crtaylor@tmacc.com JEREMY COOK - HOME INSPECTOR MAURICE ROY - REALTOR mauriceroy@realtyexecutives.com WAYNE GREAVES - HOME INSURANCE WALTER THOPSON - LIFE INSURANCE Call me for more Information

16 Homeowners have two options: Personally owned insurance OR Lenders mortgage insurance 6 great reasons why you should choose personally owned insurance: 1YOU OWN THE POLICY AND DESIGNATE THE BENEFICIARY With lenders mortgage insurance, the lender is the owner and beneficiary. Your family will not receive any money. 3YOUR COVERAGE CONTINUES AFTER THE MORTGAGE IS PAID With lenders mortgage insurance, the coverage expires when the mortgage is paid off, leaving you no option to keep it. 2 4 YOUR COVERAGE WILL NOT DECREASE Your personal policy remains level as your mortgage decreases. With lenders mortgage insurance, you are covered for only the declining balance while continuing to pay the same premium. ONLY YOU CAN CANCEL OR MAKE CHANGES Your premiums are guaranteed for the life of the plan. The lender, on the other hand, can change the premium or cancel the policy at any time. Why insurance that you own makes more sense than your lenders mortgage insurance You ve just bought a home perhaps the largest purchase you ll ever make. It is critical that you protect it and your family s future by choosing the right insurance. 5YOU BRING THE INSURANCE WITH YOU WHEN YOU MOVE Lenders may not allow your insurance to transfer to a new mortgage, new lender, or even a renewal. 6 YOUR COVERAGE IS CONFIRMED WHEN YOU APPLY Lenders mortgage insurance may assess your eligibility only when you make a claim, leaving you unsure of your coverage. With personal insurance, your medical history is reviewed before the policy is issued. That coverage will be in place when needed. Planning brings you peace of mind: your house is now a home Insurance is an important component of your overall financial plan. Your insurance should cover your unique needs, not those of the lending institution. Discuss your options with your Investors Group Consultant to ensure Discuss your plan your offers options you the with right Walter protection Thompson and peace at of mind. CHANTELLE TAYLOR MORTGAGE SPECIALIST Phone: CalgaryMortgageLoan.ca crtaylor@tmacc.com HOME BUYING GUIDE