Mortgage RATE Shoppers Can Miss Checking Important Boxes
April 13, 2016 | Posted by: Cam Brown
Most people spend more time choosing the right car than choosing the right mortgage, although it’s likely the largest expense they’ll ever undertake.
We still tend to believe that lowest rate is the one and only factor in choosing a mortgage. Most Canadian homeowners would be shocked to discover that their low-rate mortgage could actually cost them more in the long run. Cheapest is not always best. We know that’s true when we’re shopping for anything else.
Sometimes, those cut-rate mortgages come with higher fees, penalties, or restrictive terms, which could prove more costly over the long term than a slightly higher-rate mortgage with flexible terms.
As an accredited independent mortgage broker I will determine the features and privileges that best meet your personal situation, by looking at:
-
Refinancing penalties
-
Fixed vs variable rate
-
Term
-
Pre-payment options
-
Payment flexibility
-
Restrictions
-
Fees
-
Portability
-
Assumability
Make sure you have a mortgage that is custom-built for your personal situation. Cheapest isn’t always best. And obviously the most expensive mortgage is rarely the best choice either. But the right combination of rate and features – matched to your needs – is the fastest route to mortgage freedom. It’s my job to help you with that route-planning: a map for your financial future.
Whether you’re buying your first home, getting ready for renewal, refinancing a mortgage, taking out some equity for debt consolidation, renovations, or investing – it’s a good time to get some fresh, timely, expert perspective. For a free consultation, contact me, Cam Brown at 403 650 5509 or cambrown@invis.ca .
