Better Borrowing

Purchasing a home is one of the largest and most important financial decisions we’ll make. You could end up paying more than you needed to by not making the right decisions along the way.

The intense focus on mortgage rate keeps clients from factoring in the term selection that best suit their needs. This is what actually determines how much you will fork over to the lender.

“No-frills” low rate mortgages  have more restrictions-you may be stuck with lender for the term of your mortgage unless you sell your property. Closed mortgages with a wrong term will cost you a large penalty to break the mortgage. Variable rate mortgages are only a good option if you have a good tolerance for risk.

There are many things to consider such as pre-approvals, closing costs, choosing the appropriate mortgage, taking advantage of tax breaks(for first time buyers), sources of down-payment options as well as rate/product options.

There is no shortage of advice from the internet, family, friends but what you really need is education and coaching by a mortgage professional. A mortgage professional will give you peace of mind by helping  with the buying and financing process.

Most mortgage agents have access to most lenders in Canada as opposed to the bank being able to offer only their product. You would not walk into one furniture store and purchase from only their selection without looking elsewhere, so don’t do that with your mortgage either. The agents advice is unbiased as they are working for you not one particular lender.

Your home is the biggest purchase you’re going to make! Get it right!




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