When choosing a mortgage option that is right for you, planning for the future is an important aspect. Having a mortgage broker walk you through your options can help ensure you choose the best possible solution to fit your specific needs.
Know what your five-year plan is and from there you can choose the mortgage that allows you to achieve your goals. Don’t get caught up in low rates, sometimes going with a rate that is a couple points higher will save you thousands of dollars in future fees. Chose an option with good pre-payment privileges or mortgage portability, giving you more flexibility.
Learn how to control your mortgage payments and use them to your advantage when choosing your mortgage options. Take a look at the frequency of payments and amortization period to get the most for your money. Be aware of your payment options when choosing between a fixed and variable rate and pay as much as you can toward your principal mortgage amount to save yourself money on interest payments.
Finding the right solution takes time and knowledge, at Mortgage Winners we will take the time to find the mortgage that fits your needs and give you confidence in your home ownership goals.