April 28, 2011
Shopping for a Mortgage: Beyond the interest rate
One of the first conversations folks usually have when they are preparing to purchase a new home is financing. Sometimes people are very focused on the interest rate but don't always ask questions about payment options, payout penalties, admin fees and other terms of their mortgage. Life happens so even though you may think 5 years is a short time, you may need to pay out your mortgage early.
There was a recent article published in REM Online: How to avoid hidden mortgage costs.
I highly recommend the read and to ask all the questions outlined when researching your mortgage options. I often suggest people speak to their current bank where they have an established history as well as a great mortgage broker to determine their best options.
If you need some help planning your purchase, give me a call. I am happy to help.
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