10 mortgage advice from mortgage broker
1. Do not just go to the bank, get independent advice.
When it comes to investments, most Canadians recognize the importance of an independent professional. They know a good investment advisor can save thousands of dollars. A good mortgage consultant, it can save thousands of dollars by comparing rates from a wide range of lenders – including most major banks.
2. Request a Mortgage Pre-Before you start shopping.
Here in Canada we take one of the best housing markets in history – the value of homes continues to rise and low mortgage rates are still at a historically low level. As mortgage consultants, we see many people take the opportunity to buy their first home or the home of their dreams. Preauthorized mortgage helps you determine your purchasing power.
3. Make a development at the time of renewal.
Given the uncertainty of rates, you should not wait too long to renew your mortgage. As mortgage consultants, we offer a guaranteed rate for up to four months, and we have access to more than twenty-five banks, trust companies and life insurance companies competing.
4. Home ownership is easier than you think.
Would you buy a house rather than rent one? Thanks to excellent mortgage rates today, your monthly mortgage payments could be even lower than the rent you pay now. Furthermore, several funding options to 100 and even 103% may allow you to use your savings to pay closing costs and decoration.
5. Self-employed workers can get the credit they deserve.
In mortgages, we understand the challenges faced by self-employed owners. We have access to mortgages specially designed for self-employed workers, some of which do not require declaration of income, notice of assessment or confirmation of title to the company. You can get a mortgage quickly and easily.
6. Use the equity in your home to finance renovations.
Canada is the nation of the renovation. Everyone is planning repairs or renovations. As mortgage consultants, we encourage our customers to use the equity in their homes to finance their dream projects. The value of houses rising – which increases in many cases the net worth to be exploited. With low mortgage rates today, it makes the perfect time to finance renovations using the equity in your home.
7. Get a mortgage each time you need.
When people learn that we are mortgage consultants, they tell us they should ask more questions before their mortgage contract. They presume they can not do anything before the deadline. This is not the case. A mortgage consultant can review your mortgage at any time and suggest ways to save money. If you have other debts, you need to help you.
8. Consider consolidating your consumer debt into a mortgage.
As mortgage consultants, we encourage our customers to see their mortgage as their financial tool the most powerful. Think of the interest payments – on your auto loan or the balance of your credit cards, for example. These rates are comparable to today’s mortgage rates? Consider using the equity in your home to dramatically reduce your interest costs – and repay your debts faster.
9. Consider investing in real estate.
Today, we face more and more customers – especially those who have no income – who are considering investing in real estate. Low mortgage rates are still at an historic level and due to new mortgages, the average Canadian can easily add a condominium, house or even a multi-unit building to its portfolio of investments. In the long term, an investment property can be an excellent source of retirement income.
10. Examine your options, the mortgage environment has changed!
It is difficult to imagine how many mortgages have changed over the ten – or even five – years. Today, a mortgage consultant can offer dozens of solutions to meet the needs of almost everyone. It was once very difficult for a self-employed to obtain a mortgage. It was absurd! Now I have many different mortgages for this group.
