November 27th, 2012 @ // No Comments

Buying your first home can be very exciting, but at the same time, intimidating First you must choose the perfect home. Next, you must select the right mortgage for your needs. Once you choose the best mortgage, your next step is getting the best mortgage rate. With the choice available out there, it can be overwhelming to understand all the finer details as this is a long-term investment and requires serious financial planning. The process can be simplified to a large extent by a trusted and knowledgeable mortgage broker who can evaluate your needs based on your financial situation, show you all the options available, help you choose the right mortgage product and get you the most competitive rates.

Choosing the best mortgage

This depends on your own situation and exactly what you expect from the mortgage. Your mortgage associate will leverage their network of resources to present you with the various option and terms.

There are many different types of mortgages. If you want to pay the same amount over a specific period of time to help you budget better, a fixed term may be right for you. If you are prepared to take a little risk yet take advantage of current low rates, which are likely to rise, a variable rate may be a good option for you. There are mortgages that also allow you to meet your savings goals. Whatever you choose, the plan must factor in your short term as well as long term needs.

Your mortgage associate can negotiate with lenders to provide you with a mortgage product that is flexible enough to let you increase your payments, make lump sum payments and in some cases double up on your payments. Utilizing any or all of these options help’s reduce the principal faster and saves you thousands of dollars on interest. Some lenders will even let you miss a payment in emergencies.

Some factors that can help you get the best mortgage rates are:

A reputable mortgage broker can be your one-stop solution to getting the best mortgage rates for you as they have the knowledge, expertise and resources to guide you through the complex mortgage process. In most instances brokers get paid by the lender and don’t charge you for the service.

For guidance on getting the best mortgage rates, why not get in touch with us today?


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