Welcome to "The MLS® Portal"

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MLS Portal for Calgary Real Estate

Welcome to The MLS® Portal, your single access point for MLS® listing information, brought to you by Jerry Charlton

When you arrive at The MLS® Portal, you may find it convenient to save its website address as a favourite or bookmark in your web browser. This will enable you to easily visit The MLS® Portal at any time.

Listing Information is Provided By Jerry Charlton. 

Jerry Charlton may email listing information to you in two ways: manually or automatically. Both types of emails contain a hyperlink which you can click to visit The MLS® Portal and view the listing information Jerry has prepared for you.

  • Manual ("Direct") Emails: Jerry Charlton may personally compile and send MLS® listing information for you. These emails contain a link to The MLS® Portal where these listings are available for you to view. This collection of listings will remain available for you to view on The MLS® Portal for 60 days.
  • Auto Emails: Jerry Charlton may also arrange for you to receive auto emails. These are also personally set up and controlled by Jerry Charlton but dispatched by the MLS® system itself, based on your criteria. Auto emails also contain a link to The MLS® Portal where matching listings are available for you to view. Auto emails will continue to be sent to you until you ask Jerry to stop them or you unsubscribe from the service yourself.

On the Start tab, you'll see links to any Direct Emails and/or Auto Emails Jerry has prepared for you. Click on one of those links to view the associated listings.

For additional MLS® Portal Tutorials and Guides visit the link below:

Customer Portal Video Overview

Customer Portal Quick Start Guide

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Calgary Home Buyers Getting More Choices Heading Into The Spring Real Estate Market as Sellers Rush Towards the Exit Doors!

106 homes are being sold daily so far in February. That is close to the daily high of April last year. Detached homes account for over 1/2 the daily sales number so far. Attached homes are seeing demand not seen in years with an average of 28 sales per day. That is higher than any month last year. Condo sales are also benefiting from the detached seller's market as daily sales are hitting new highs as well.

Inventory should continue to jump as eager sellers head for the exit doors. Picky and Patient Calgary Home Buyers will be rewarded with more selection soon. Calgary Realtors should also get a bit better at pricing homes which will tighten the spreads between asking and selling prices.

We Offer Free Calgary Home Evaluations With Zero Obligation to Sell

In the charts below you see the % of Listings Sold on a month-to-month basis. A Balanced Calgary Real Estate Market happens around 33%. At 33% we theoretically have three months supply of housing inventory. This means if no new listings came on the market, after three months there would be no houses to buy. Above 33% sales leans towards a Sellers Market because available homes are selling at a faster rate than three months supply. And of course, less than three months or 33% is a home buyers market. Labelling a Real Estate Market can be applied at all levels and within all home types to drill down for more relevant data. These charts start with the Combined Home Types in Calgary, then get divided amongst the major home styles of Detached Homes, Attached Homes & Condos. We can drill down farther to the City of Calgary 4 Quadrants of NW, NE, SW, and SE. Or the 8 MLS® Districts of Calgary. Or down to your community and home type. And then whatever time periods you are interested in. Last 3 years or the last 23 years, we can give you the stats you want to better understand the micro and macro real estate markets in Calgary. Call me anytime Jerry Charlton 403 831 0842 and I will get you the stats that matter most to you.

Calgary Home Inventory on the Rise Going into the Spring Market

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February 2022 Calgary Real Estate Newsletter


Selling your Calgary Home and those Two Little Voices

Thinking About Moving In The Near Future in Calgary?

When you’re shopping for a new car or anything else that impacts you personally, you probably have two little voices chatting in your head. The first is saying, “This is what I want.” The second is asking, “Can I really afford this?”

Ideally, both voices are in agreement and you’re able to buy what you want at a price that’s reasonable. Of course, there are other times when you’ll need to compromise on some features in order to stay within your price range.

This same dynamic plays out when you’re thinking of moving. You may start wondering, “Is the type of house I want to get into really within my price range?”

In fact, that question holds many homeowners back from even considering a move. They’re stuck wondering if they can get into the home they want.

If you’ve been wondering the same thing, why not find out? It’s relatively easy.

The first step is to calculate how much your current property would sell for on today’s market. That figure is determined by many factors, but it’s mainly driven by what similar properties in your area have sold for recently.

Once you know what you can expect to get for your home, you’ll need to find out how much of a mortgage (if required) you qualify for.

The final step is to take a look at current Calgary Listings in neighbourhoods you’re targeting and see which properties for sale fit within your budget.

You might be pleasantly surprised to discover that the two voices in your head are in agreement, and you can get the home you want at a price you can afford.


Should You Replace Your Homes Windows?

Replace Windows Before Selling A Calgary Home Could Be A Good Idea

Here’s a surprising statistic. Less than 30% of window replacements are the result of the old windows being worn, broken or otherwise in need of replacement.

Clearly, there are other good reasons to consider new windows!

One of the most popular motivations is cosmetic. Brand new windows have a huge impact on the overall look of a home, both on the inside and the outside. New windows can improve the curb appeal — an important element when you sell a home. From the inside, new windows can dramatically improve the look of a room.

Another reason to replace windows is to address energy costs. Modern windows are packed with technologies that lower heating and cooling bills. From low-e/argon to special spacer bars to highly insulating options, window technologies can provide savings you’ll notice, especially if you’re replacing very old windows.

A third reason is window style and characteristics. Simply put, you may not like your current windows! You may want more glass and less frame to enhance your view. Maybe your windows pull up (vertical sliders) when you’d rather have them open like a door (casements). Perhaps you’d like fancy blinds in-between the panes of glass. Replacing windows lets you get exactly the look and features you want.

Will new windows boost the resale value of your home? They might, at least a little. But there’s one thing for certain: upgraded windows definitely make your home look more appealing to buyers.


How to Get the Buyer’s Perspective on your Property

Calgary Home Buyers Perspective is Very Important to Consider

When you walk through the front door of your Calgary home, you have a very different experience than a home buyer would. You see the familiar. You see the memories. You see your life. In fact, you might even wonder why anyone would hesitate to fall instantly in love with your home.

Buyers, however, don’t have that same perspective.

When they walk through your front door, they see a place they’ve never been before. To them, it’s a stranger’s home. They’re looking at your property with a critical eye.

They’re asking questions like, “Is the living room large enough? Do we like the feel of the place? Is it move-in ready or do repairs and improvements need to be done? Does it feel spacious or cramped? Neat or cluttered?”

So, when preparing your property for sale, it’s important to analyze it from a buyer’s point-of-view. A good exercise is to pretend you’re a buyer and walk through your home, starting at the entranceway. Ask yourself “buyer questions” as you visit each room.

For example, when you see the kitchen, from a buyer’s perspective, what do you like about it? What do you not like? Do the same with the other rooms and spaces in your home. Imagine, as the buyer, noticing clutter, needed repairs, poorly lit areas, and rooms that feel small and confining.

Also, of course, notice those features that would likely impress a buyer, such as a modern ensuite bathroom or new and stylish kitchen appliances.

Once you’ve done that exercise, you’ll have a clearer idea of what you need to do to make your home look its best to buyers.

Remember, an interested Calgary Home Buyer is more likely to make a good offer on a property that “shows” well.


Notable, Quotable, Quotes!

“We are what we repeatedly do. Excellence, then, is not an act, but a habit.”
Aristotle

“Live out of your imagination instead of out of your memory.”
Les Brown

“In giving advice, seek to help, not to please.”
Solon

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Calgary Real Estate Market - Home Sales Charts - Year-Ending Dec 31, 2021


The first chart is the total home sales for Calgary in all three main categories of home types. The three types in the Calgary MLS Database system are Detached Single Family Homes, Attached Homes and condos. The Calgary Real Estate Market is considered a sellers or a buyers market when we are above or below three months of supply. Look at any chart to see how many properties were sold last month. If we have three times that number in current listings we are in a balanced housing market in Calgary. Less than 3 months favours Sellers over Home Buyers. More than three months and Buyers Rule the day. The supply and demand of homes in the three distinct home types in Calgary are the net effect of everything else happening in the world. Mortgage Interest Rates, Employment, new homes being built, politics, etc. all eventually show up in the actual supply and demand numbers. These are the only charts you ever need to see to get an overall glimpse of today's Calgary Real Estate Market.


Single Family Detached Homes continue to favour Home Sellers

My prediction is this will continue for some time. It's very hard to flood the market with detached single-family homes even in a lousy economy. 


Attached Homes Sales have picked up as many Detached house buyers are forced to look elsewhere

Attached homes are second on the list for most home buyers and sales usually reflect that. In the current market attached homes are enjoying the short supply in detached homes


Condos get the least amount of love in the Calgary Real Estate Market

Condos are at the bottom of most people's wish list for a Calgary home and the supply and demand numbers back that up. Condos have got a bit of a bump as the tide of the overall market rises. But still lag badly as a home choice for Calgarians and Real Estate Investors. I wonder if all these buildings that converted to condos years ago might start to revert to rental buildings. If you are buying a condo, don't forget you will own your portion of the entire structure along with its liabilities. Buyer Beware applies to everything and more so to condos in my opinion.


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January 2022 Calgary Real Estate Newsletter


Listing Before a Repair or Fix-Up is Done?

Listing A Calgary Home For Sale

If you’re thinking of selling your Calgary home, you may have walked through it and discovered that you’ve been ignoring work that should be done to make your home look its best. For example, you may have been living with a cracked floor tile that needs to be fixed, or a damaged closet door that requires replacement.

Is it a good idea to get these maintenance issues dealt with before you list? Typically, yes. You want your home to show well. Anything unsightly or concerning will get noticed by and discounted by Calgary Homebuyers.

Fortunately, investing the time and money to get the work done will pay off. It will help you sell your home faster and for a better price than selling As-Is.

However, there may be circumstances in which you need to list before repairs and other improvements are completed. For example, if you need to sell within the next few weeks, you may simply not have enough time. In that case, there are a couple of options. Either you can arrange for the work to be done and let buyers know that it’s been scheduled; or, you can let buyers know about the issues and let them know you’re selling as is. Or You could let Us Make You A Cash Offer to Buy Your Home.


Fire Safety Checks You Should Do at Least Once a Year

Fire Extinguisher in the Kitchen

Chances are, you know that you should change the batteries in your smoke detectors at least once a year — even if you suspect the batteries are still good.

But that isn’t the only fire safety check you should do annually. Here are some other recommended tips to help keep you and your family safe.

  • Clean your stove burners and oven regularly. Hard grease build-up can become combustible.
  • Check your cupboard for cleaning products, paints and other liquids that are flammable. Read each label carefully. Use and store each product only as recommended.
  • If you keep a fire extinguisher in your kitchen — and you should — confirm that it is still good. Extinguishers are like food. They have expiry dates!
  • Go over your fire escape plan with your family. Make sure everyone knows exactly what to do if a smoke detector goes off or if there’s a fire.
  • Check that all windows open easily, especially upper floor windows.
  • Check appliances you use often, such as hair dryers, for worn or frayed cords.
  • Regularly clear away lint build-up in the clothes dryer. Check the outside dryer vent annually to make sure it’s clear and working correctly.
  • If you have a wood-burning fireplace or stove, get it cleaned and inspected by a licensed technician once a year.

Many local fire departments offer homeowners free tips and even in-home advice and inspections at no cost. Contact your Calgary Fire Department and ask about programs available to you.


Getting an Early Start on Selling your Home

You’ve probably heard the expression, “The early bird gets the worm.” It refers, of course, to those who get in early and reap the rewards. For example, if you arrive early to a retail store for a big blowout sale, you’re likely to get the deals before the inventory runs out. The stragglers who come later will miss out.

Well, this same wisdom can be applied to selling your home. Starting the process early — even if that means simply doing some initial planning — gives you the edge in several ways.

First of all, you get extra time for preparation. That means you can get your home cleaned, uncluttered and staged without feeling rushed. You also get more time to find out how much your property will likely sell for on today’s market. That’s important information, especially if you’re also looking to finance a new home.

Secondly, there’s less stress. You’ll have more time to make the right decisions. The last thing you want is to be scrambling around, last minute, trying to get your home ready for sale.

Finally, with your initial preparations done, you’ll be able to put your home on the market at a moment’s notice. That’s a huge advantage that’s likely to lead to selling your property more quickly and for the best price. In fact, by getting an early start on the process, you might even find that this is the best time to list — and you’ll be able to do so, with confidence.


Notable, Quotable, Quotes!

“You don’t have to be great to start, but you have to start to be great.”
Zig Ziglar

“Life is like riding a bicycle. To keep your balance, you must keep moving.”
Albert Einstein

“The indispensable first step to getting the things you want out of life is this: Decide what you want.”
Ben Stein

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How Much Mortgage Will A Home Rental Payment Carry?

If you cannot pay for a home in full, you are renting. Either you are renting someone else's home or you are renting the money to be able to call it your own home. The big difference is in who gets the equity from your monthlyRent or Own shouldn't even be an argument. Stop Renting Houses, Rent Money Instead. payments. You can rent money via a mortgage and keep the equity or you can add to the landlord's equity every month. Much better to pay yourself by renting the money to buy a home.  

What can you afford? Well, you are probably paying rent plus utilities plus insurance and maybe minor repairs. So chances are good you can afford a mortgage payment based on your rent payments.

This first calculation should be How Much Mortgage would your current home rent payment carry. It's easy to figure out yourself with an excel spreadsheet. Or you could just ask me. Jerry@JerryCharlton.com

But here are the instructions to do it yourself.

You need the formula for a Microsoft Excel spreadsheet based on Canadian Mortgages.

This present value formula is for Canadian Mortgages with Interest Calculated Semi-Annually.

Replace Mortgage Rates with your rate or a cell reference. Same for Amortization and Payment You Can Afford.

=-((PV((1+Mortgage Interest Rate/2)^(1/6)-1,Amortization in Years*12,Monthly Payment You Could Afford)))

The next step is to divide the mortgage amount by the amount you need to finance.

Example 223,231.11 / 95% - 223,231.11 = the 5% Down You Need $11,749.01

Down Payment Plus Mortgage equals $234,980

Here's a quick reference table for you to see the possibilities. Of course, you still would need to qualify for a mortgage, but at least you would know what monthly payment range would be comfortable for you.

Rent Payment Mortgage Interest Rate
    2.50%
 $ 1,000.00 $223,231.11 Amortization
 $ 1,100.00 $245,554.22 25
 $ 1,200.00 $267,877.34
 $ 1,300.00 $290,200.45
 $ 1,400.00 $312,523.56
 $ 1,500.00 $334,846.67
 $ 1,600.00 $357,169.78
 $ 1,700.00 $379,492.89
 $ 1,800.00 $401,816.00
 $ 1,900.00 $424,139.11
 $ 2,000.00 $446,462.23
 $ 2,100.00 $468,785.34
 $ 2,200.00 $491,108.45

We have highly qualified Calgary Mortgage Agents standing by to help you.
Get started today and make yourself rich... not your landlord.

We will also help you become The Landlord as your Trusted Real Estate Investment Advisors!

How To Stop Making Your Landlord Rich and Instead Build Your Own Wealth with Calgary Real Estate

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What's your home worth in today's Calgary Real Estate Market?

Home values in Calgary are moving targets. We can give you a snapshot of the value of your home today. Tomorrow it could change. Home values are determined by the basics of supply and demand with location and condition added in. As a homeowner, you have no control over Supply or Demand or Location. The location is the location and you can't move it. Supply and demand are not controlled by anybody or anything. But do react to mortgage interest rates, time of year, employment stats, migration in and out, politics, fear and greed just to name a few things that cause the supply and demand to change like the weather.

Looking at the chart below of average prices we see that prices do go up, down and sideways in the short term for homes in Acadia Calgary. But the long-term trend is up. Just like the price of a loaf of bread is not the same as it was twenty years ago, neither is a home. The problem with investing in bread is it has a short shelf life. Not so with Acadia Calgary Real Estate.


Acadia Calgary Average Home Price Trend is Up Over The Longer Term

Home Price Profile for Acadia Homes in Calgary

Many people find this chart below very interesting as it tells the story of a typical Calgary Community with homes built in the early sixties. Acadia is home to over 2,000 bungalows that are of a similar size and on very large plots of land compared to newer Calgary Communities. These homes are getting older and losing value at the same time as the location of the land and lot sizes are gaining in value. The building goes down in value and the land goes up in value over time. And this chart shows that very clearly as the spread in pricing gets wider. Older homes that have never been updated are at the low end of the price scale. The homes at the high end are homes where someone has taken charge of the only thing you really have control over - The Condition. Knowing the price profile for any Calgary Community is very valuable and easy - Just Contact Me at 403 831 0842 or Jerry@JerryCharlton.com


Acadia Calgary Home Price Profile For The Community

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A Few Things About Calgary Alberta Foreclosures - FAQs

What is a Judicial or Court of Queens Bench Listing in Calgary?

What a Judicial Listings is not, is a motivated seller. A Judicial Listing is a Court Ordered MLS® Listing of a property. The bank has obtained a Court Order to list the property for sale. At this point, the sellers could still catch up with the payments and end the Court Order. The Judges who evaluate all offers to purchase are more sympathetic to the people and not the banks. What that means to potential buyers is the Judges rarely if ever accept an offer below market value. They care more about the people than the banks' profit and loss statement. If no offers get accepted after a determined time limit, the court will terminate the listing and transfer the legal title to the property to the bank.

Do the banks accept low-ball offers after they get possession of the property?

No, because the banks dominate the mortgage business it would be against their best interests to accept low-ball offers. Accepting low-ball offers would knock down the price of nearby properties they also hold mortgages on. Banks would be shooting themselves in the foot if they dumped all the foreclosures on the market at once and took below-market offers. If you do see a foreclosure that was sold at what appears to be a low price - It probably needed a lot of work. So the price was fair market value. Banks control the real estate market.

If Banks and the Courts are not Motivated Sellers, Who Is?

A motivated seller is anyone that Has to Sell vs those that Want to Sell. Divorce causes a lot of forced home sales. Loss of Jobs, transfer of jobs, transfer of kids schools, bad money management, estate listings, disgruntled landlords, people tired of all the home upkeep, forced downsizing, etc. There are lots of truly Motivated Sellers willing to sell below market value for every foreclosure out there. And there are lots of people watching the new listings daily that snap up the great deals before you've had your morning coffee.

How can you tell if someone is Motivated to Sell a Calgary below market value?

Number one is you have to know general market values for the area you are looking at and the style of homes in that area. In other words, you need to do some work. There's always someone working just as hard or harder than you are to find the great deals that pop up. After a while of studying the market and viewing lots of properties, it gets easy to spot something out of the ordinary that might be an opportunity. Then you write an offer with your Realtor with the price, terms and conditions that you want!

What kind of Terms and Conditions do Motivated Calgary House Sellers want?

They want all-cash offers with no conditions or terms and quick closing dates. If you want a lower price, you shouldn't weaken your offer by adding any crazy-sounding conditions and terms. If you do need a financing condition and home inspection condition the length of time you ask for can also weaken your offer. If it's a great deal, count on the seller getting a few offers to compare against each other. Put yourself in their position.

What other signs are there that a Calgary Home Seller might be motivated?

Two people on the legal title and only one adult living in the home. Moving boxes already packed up. Deferred or ignored home maintenance. Vacant properties. Tenant Occupied Properties. The owner is on the title is a company. Neighbours look sketchy. The neighbourhood looks run down. Size no longer works. After looking at lots of properties the signs generally jump out at you.


What you really need if you want to buy a bargain property in Calgary is a seasoned Realtor® that knows what to look for and where to look on your behalf.

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December 2021 Calgary Real Estate Newsletter


5 Ways to Re-Energize in Just 5 Minutes

Re Energize in Just 5 Minutes

December tends to be a busy month for most people. It’s all too easy to feel drained and even burned out. Unfortunately, you may not have the luxury of time to relax with a good book or go to a yoga class. So, with that in mind, here are some proven ways to quickly unwind and boost your energy:

  • Take a short walk. Scientists say your body will often de-stress significantly after just a 12-minute stroll.
  • Drink a glass of water. Dehydration, which can come on without you realizing it, can quickly lead to fatigue and tension.
  • Do something completely different. Often, if you completely remove yourself from a situation or activity, even for just a few minutes, you’ll come back feeling better. So, take a moment for yourself!
  • Breathe and stretch. It’s almost impossible to feel tense after a few deep breaths and some stretching exercises. In fact, that’s where the urge to yawn and stretch comes from. It’s your body’s way of boosting energy!
  • Write it down. If you’re worried or frustrated about something, writing it down will feel like deflating that balloon of stress. Taking it off your shoulders and onto paper will put the concern into perspective. 

Try one of these tips the next time you feel overwhelmed.


Showcase your Home With the Right Lighting

Showcase Your Home With The Right Lighting

The top retail store chains invest heavily in creating just the right lighting to make their products look great. Why? They know that lighting makes a measurable difference to sales.

The same is true when you sell your home. Lighting can make a big difference in the impression your home has on buyers.

There are two types of light sources, manufactured and natural. You need to consider both when staging your home for sale.

Think about the mood you want to create in each room. For example, you might want the kitchen to seem bright and alive. If yours isn’t quite like that, check whether you are using the highest wattage light bulbs suitable for your fixtures. Also, look for ways to bring in more sunshine. Switching curtains for blinds might do the trick.

In the living room, you might want a cozier feel. That can be accomplished by using lamps that cast a softer and gentler light than more imposing overhead fixtures.

Pay particular attention to dimly lit rooms in your home, including nooks and crannies. Even adding small track lighting to a pantry cupboard can make the space seem brighter and more inviting. Check that lighting is adequate in the garage and walk-in closets too.

Finally, make sure all lights in your home work during viewings. Have spare bulbs available in case one burns out. You don’t want a buyer to try to turn on a light and discover it’s not working.


Leverage the Power of “Done” to Achieve Goals

Check Of Your Goals

During a marathon, organizers typically set up signs along the route to indicate distances completed. For example, one might say, “You’ve just finished 4K!” They do that for two reasons: to let runners know where they are; and, to motivate them.

Why are these signs motivational? They give runners an ongoing sense of accomplishment. The runners have “finished” a certain section of the marathon. They’ve reached a milestone. That part is done! As a result, they feel inspired to continue on.

You may feel the same way when you finish a project or task. Energized!

You can use this phenomenon to help you reach your 2022 goals. If you have a big goal, you can divide it into specific milestones that will give you that motivating sense of completion. Say, for example, you want to lose weight. Your milestones might include:

  • Make a nutritional eating plan.
  • Find a weight loss buddy to share the journey.
  • Lose your first 5 pounds.

As you check off each milestone, you’ll become motivated to take on the next. Give this technique a try in the new year!


Notable, Quotable, Quotes!

“Start each day with a positive thought and a grateful thought.”
Roy T. Bennett

“The way to get started is to quit talking and begin doing.”
Walt Disney

“I never dreamed about success. I worked for it.”
Estée Lauder

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Calgary Mortgage Payout Penalties

When it comes to Calgary home mortgages, it is easy to focus on the mortgage interest rates and your current situation, but the reality is that life happens and when it does, great mortgage rates won’t be the only thing that matter.

At the end of the day, a mortgage is a contract between you (the homeowner) and the bank. As such, there are often mortgage payout penalties involved if the contract is ever broken. This is something that every homeowner agrees to when you sign mortgage paperwork, but it can be easy to forget - until you’re paying the payout penalty. These things do happen as approximately 6 out of 10 mortgages in Canada are broken within 3 years. Should your circumstances change, knowing the next steps can help you navigate the mortgage payout penalty process.

Calculating Mortgage Payout Penalties

Typically, the penalty for breaking a mortgage is calculated in two different ways. Lenders generally use an Interest Rate Differential calculation or the sum of three months' interest to determine the payout penalty. You will typically be assessed the greater of the two penalties unless your contract states otherwise.

Interest Rate Differential (IRD)

In Calgary, there is no one-size-fits-all rule for how the IRD is calculated and it can vary greatly from lender to lender. This is due to the various comparison rates that are used. However, typically the IRD is based on the amount remaining on the mortgage and the difference between the original mortgage interest rate you signed at and the current mortgage interest rate a lender can charge today.

In this case, these penalties vary greatly as they are based on the borrower's specific mortgage and the specific rates on the agreement, and in the market today. However, let's assume you have a balance of $200,000 on your mortgage, an annual interest rate of 6%, 36 months remaining in your 5-year term and the current rate is 4%. This would mean an IRD penalty of $12,000 if you break the contract.

Ideally, you will want to be aware of what your IRD penalty would be before you decide to payout your mortgage early as it is not always the most viable option.

Three Months Interest:

In some cases, the penalty for breaking your mortgage is simply equivalent to three months of interest. Using the same example as above - balance of $200,000 on your mortgage, an annual interest rate of 6% - then three months interest would be a $3,000 early mortgage payout penalty. A variable-rate mortgage is typically accompanied by only the three-month interest penalty.

Paying The Mortgage Payout Penalty

When it comes to making the payment, some lenders may allow you to add this payout penalty to your new mortgage balance (meaning you would pay interest on it). You can also pay your penalty upfront. Whenever possible, if you can wait out your current mortgage term before making a change to your mortgage, it is the best way to avoid being stuck in the penalty box. If you cannot avoid a penalty, do note that, while only calculators can be great tools for estimates, it is best to contact our mortgage agents directly to discuss your mortgage terms and potential mortgage penalty calculations.

CLICK HERE For More Information on Payout Penalties and How To Protect Yourself

Life happens and not always on the same schedule as your mortgage. Do your homework to avoid nasty surprises from your friendly banker!

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.