Spruce Grove Mortgage Broker: Krista Lindstrom
 (780) 946-6222   ·    Email

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What’s The Difference Between The Bank And Your Broker?

What’s The Difference?

The difference between a banker and a broker comes down to the products each can offer, and where their allegiances lie.

A banker is paid by the bank, to make the bank money at your expense, while a mortgage broker is paid by the lender to get you the best mortgage available, which is to your benefit.

Mortgage Brokers

A mortgage broker has access to multiple lenders and shops around to get you the best mortgage product available for your needs.

Working with a mortgage broker provides you with options right across the board. Instead of having to go in and fight the bank for a deal, your mortgage broker does all the leg work and outlines your options at several lenders. Since the lender pays the mortgage broker upon closing, there is no cost to you for your brokers services.

Bankers

A banker works for a single financial institution, and can only offer mortgage products from that institution.

As banks can only offer you their rates and products, they are very limited in how they can help you. They never offer you the best deal to start with, however, will eventually negotiate on terms and rates, but you will be responsible for doing the negotiations on your own.

Renewal Time?

If you have a mortgage up for renewal, or you would like to refinance, it is always in your best interest to contact your mortgage broker instead of dealing with the lender who currently holds your mortgage. Just because they were the best option previously, that doesn’t mean they will be the best option in the future.

If you or someone you know is considering a new mortgage, let’s connect to get you the best mortgage options available!

Questions on your mortgage, or want to compare your mortgage to what is currently available? Please email me.

Connect with me on social media as well.

Alignable Spruce GroveSpruce Grove Mortgage  Mortgage Linked In

 

Mortgage Broker Spruce Grove

Money & Conflict Luncheon

Money MOrtgage

Krista is presenting at the Alternate Dispute Resolution Luncheon  Tuesday February 19th in Edmonton.

It should come as no surprise that money woes can be the cause of marital and family stress; unemployment or poor spending habits can exacerbate the situation. One can easily conclude that
this reality extends well beyond just the family unit.

The FOAJ & ADRIA are pleased to present two speakers this month that will offer their experience, insights and resources to better understand the money & conflict dynamic. What skills or resources might be available to you when assisting families though these difficult conversations or decisions?

 

Speakers

As a mortgage broker, Krista Lindstrom has focused her own practice on families facing separation and divorce, and walking her clients through the complexities of restructuring mortgages and finances to retain the marital home, often with the bets interest of their children in mind.Knowing that life isn’t always easy, particularly at the end of a relationship, Krista has dedicated herself to
helping people navigate all possible mortgage options when facing separation and divorce. Krista believes that Knowledge is Power, and will share her personal experiences in dealing with families in conflict. Attendees will gain insights into approaches, tools and resources that would be useful in their

 

Second presenter is Manraj Waraich, from the Credit Counselling Society, a non-profit service helping individuals and families find their best options to deal with their debt and get their finances back on track. Manraj will present Financial First aid for Mediation Professional, assisting us all to learn how financial stress impacts our clients, to recognize the signs of financial stress, and to know what strategies and resources might be available to assist them.

 

EDMONTON
Tuesday, February 19
11:30 AM to 1:00 PM
Buffet Royale West
17202 95 Ave NW
Money & Conflict
$25 for members & $35 non-members

 

Buy Your Ticket

What Documents Do You Need To Apply For A Mortgage?

Home buying is exciting, but also can be a lot of work. There are a lot of factors in play when thinking about purchasing a home, from location, how many bedrooms, finding a realtor, mortgage broker and lawyer.

Within all of this there is some documents and information needed as well. In order to apply for a mortgage we need to be able to figure out your income and your down payment.It can sometimes seem like a lot so here are a couple of tips for organizing:

  • Set up a place where you can have all the documents go. This could be an accordion file folder labelled with each item or simply a inbox on your desk where it gets placed and ready to go.
  • For any letters you need, ask employers/family for them now, as sometimes they need a bit more than a days notice to pull together a letter.
  • Print off our Mortgage documents checklist and keep it with your paperwork, checking off items as you have them.

With this check list you can now begin to pull together all of your documents and start the four steps to getting a new mortgage below.

Step 1: Apply

You can start the application process with me online even, by visiting this link. Or you can give me a call (780) 946-6222 or sending me an email Krista@mortgagesimple.ca

Step 2: Processing

I will then be in touch to review your application and discuss your specific needs before getting you approved for your mortgage financing.

Step 3: Acceptance

When your loan is approved, I will send you your approval and a list of required documents. The checklist above is a great start ahead of time. The approval must be signed and returned along with any other required documents.

Step 4: Funding

Once your loan is complete you will need to meet with your lawyer to finalize and register your loan.

From there, find and move into your new home and enjoy the fruit of your hard work!

Spruce Grove MortgageAxiom Mortgage Edmonton

 

 

Tips For Saving For A Downpayment

Saving For A Downpayment

Saving for a down payment is one of those things most of us have to/had to do in our lives. You have created your life and/or family and are looking to get into your first home. This tips will help you with saving some money for your down payment.

Determine how much you need to save

The current minimum needed for a down payment of a home less than $500,000 in Canada is 5% of the purchase price. For homes between $500,000 and $999,999 the minimum down payment is 5% on the first $500,000 and 10% for any of the amount over it. Finally if you purchase price is $1,000,000 or more, the minimum down payment is 20%.

You can try out my handy Mortgage Calculator to input some prices to determine what you think would be an affordable mortgage payment for you for a general idea of your price range in homes.

Set a timeline

Once you have a timeline and an amount from there you can do some simple math to determine how much you need to put away weekly/monthly to save. For example, if you are wanting to save $20,000 (5% of $400,000) and are hoping to do it in 3 years you would need to put away $555 a month or $256 bi-weekly.

Automate your savings

Now that you have the amount you want to save per month in mind, set up automatic transfers with you bank in to a savings account. If you have specific dates you receive your pay you can have them set up to take out that day or the next.

Extras add up

Receiving a bonus at work or a little extra money in your birthday card? Put this money into the savings and it will quickly add up. Just as the little things like eating out and cab rides add up to take funds out of your account, saving on these things will encourage growth in your bank account.

What Our Clients Are Saying

Reviews of services

Thank you to all of our clients for their recent reviews on Google. We truly appreciate everyone that has taken the time out of their day to leave us a review.

We thought we would take a moment to share a few of our reviews.

Dave said:

Very helpful, knowledgeable and made the application process easy. Very pleasant to deal with.

Debbie said:

Krista Romberg is very professional Krista is a great person to talk to and communicate with, she went above and beyond to ensure I would qualify for this Mortgage! Thank You! I will definitely recommend her and the Axiom Mortgage company to friends and family! Thank You Again!

Samantha said:

Krista is super easy to deal with and she knows her stuff! I attended a conference that she ran on the spousal buyout program and it was very informative.

Gloria said:

Krista bent over backwards to resolve our mortgage issues. She’s as efficient as she is pleasant. She deserves all the awards she received this year.

Keri said:

Axiom helped me to afford to keep my home, without a co-signer, after my divorce. I am truly grateful for their services!

Again, thank you all for your kind words and support. It means so much to know people are getting the service they need and deserve.

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