For many, purchasing a home is the largest investment they’ll ever make so a mortgage (sometimes referred to as a home loan) isn’t something to take lightly.
You want to make sure you choose the mortgage that is best suited for your needs and get the lowest interest rate on that mortgage in order to save as much money as possible.
The lowest interest rate alone doesn’t necessarily mean the best deal. The terms and conditions within your mortgage contract can also have a great effect on the overall cost of your mortgage.
If your mortgage doesn’t match your needs, you could end up paying thousands of dollars in unnecessary penalties and fees.
For example, sometimes Lenders offer mortgages commonly known in the industry as “low rate basic” or “no frills” mortgages. These are mortgage products that offer a very competitive interest rate but are usually limited in features or have certain restrictions such as flat rate penalties or sale-only clauses which could end up costing you a lot of extra money if you need to break your mortgage contract early.
My job as your Mortgage Specialist is to understand your needs and the plan you have for the home you’re buying and then search through offers from dozens of different Banks, Credit Unions, and other types of Lenders to find you the right product at the lowest interest rate.
So how do I find you the best deal?
The first step is to get a proper mortgage pre-approval. Once that’s in place, you go out and find your perfect home that falls within your budget. You’ll write an offer on that house with your Realtor and once that offer gets accepted by the seller, that’s when I jump into action and find you the best deal!
The first thing I’ll need to know is what your plan is for the home you’re purchasing