Mortgage Broker Services

We welcome mortgage associate Barb Eglauer of  The Mortgage Group (TMG) as a new team member of Thor Financial Services.

Whether you are looking to buy a new home, investment property or refinance an existing property, Barb will help find mortgage solutions that save you time and money. From the initial stages of shopping around, throughout negotiations to closing the deal, Barb works for you, not the lenders.

After an initial consultation and single application, Barb begins sourcing the best financing solutions by assessing your specific situation and providing no-obligation, professional advice on what you can comfortably afford to borrow. Through her sound research of Alberta mortgage lender loans and products, Barb helps you make an educated buying decision. Enjoy a fast and efficient process that is often at no cost to you.

Mortgage products include:

Open Mortgage. Allows you the flexibility to pay off a portion of the mortgage or the entire mortgage, at any time, without penalty. Interest rates are usually higher than a fixed mortgage and are tied to the Bank Prime Rate.

Fixed Mortgage. Offers you the security of locking in your interest rate for the term of your mortgage, so you know exactly how much principal and interest you will pay on the mortgage throughout the term. Terms range from 6 months to 10 years. Fixed rate mortgages offer some form of yearly pre-payment, typically ranging from 10% to 25% of the original mortgage balance, depending on the lender. If you wish to pay off your mortgage in full, there will be a penalty of either 3 months simple interest or an Interest Rate Differential (IRD). The benefit of a fixed mortgage is that the rate is lower than an open mortgage, making it a more popular option if you have no plans to pre-pay it in full during the term you select.

Variable Rate Mortgage. Allows you to take advantage of today’s low Prime Rate. Most variable rate products are set below prime, with terms ranging from 1 to 5 years. The terms range from 3 to 6 years. Payments vary depending on the product or lender you choose. In some cases, you can fix your payments for up to 5 years, but the interest rate will fluctuate as the Bank Prime Rate changes. In other cases, your monthly payments will fluctuate depending on how many times the Prime Rate changes during your term.

Secured Line of Credit. Allows you to access the equity in your home whenever you choose. Rates are tied to the Prime Rate and are usually slightly above prime. The required payment on the balance is interest only, making it a good choice where cash flow is important. A secured line of credit offers lower interest rates compared to an unsecured line of credit. You may have a secured line of credit and a mortgage if you have good equity in your home.

2nd Mortgage. Typically refers to a secured loan (or mortgage) that is subordinate to another loan against the same property.

Private MortgageIn this instance, you borrow from another person or business, rather than a bank.

Commercial Mortgage. Similar to a residential mortgage, except the collateral is a commercial building or other business real estate, not residential property. In addition, commercial mortgages are typically taken on by businesses instead of individual borrowers.


Barb Eglauer (nee Nickel) is a trusted mortgage broker with The Mortgage Group. The youngest of eight children, Barb grew up on a farm north of Tofield and maintains strong relationships with the Tofield community alongside her husband Brent, who is also a Tofield native. Since receiving her Certified Management Accounting (CMA) designation (now called Chartered Professional Accountant) in 1998, Barb has worked in the financial sector. Barb has an incredible eye for detail and is committed to helping her clients find the mortgage that will save them the most money. When she is not renegotiating her client’s mortgages, Barb can be found baking or on the ski hill with her family.