Mortgages: The Basics
A mortgage is the largest sum of money that most people will ever borrow. The interest costs alone can easily run into the tens of thousands of dollars. So when borrowing to buy your home, it is important to understand how mortgages work. Knowing how they differ from lender to lender, how much they really cost, and how to reduce your costs can save you a lot of money, and possibly take years off the life of your mortgage.
Consider using a Mortgage Broker
If you do not have a lot of time to go from lender to lender, consider using a mortgage broker. Mortgage brokers are independent professionals who work as liaisons between the borrower and the lender to negotiate mortgage loans. They are specialists who will provide all the information and answers you need to understand the mortgage process. It is your mortgage broker's job to analyze your specific needs and find the mortgage product that best satisfies your budget and goals.
Using a mortgage broker can save you time and money! They have access to numerous lending institutions and investors. They will make sure that you get the best loan possible: the best interest rate, conditions, and prepayment privileges.
And best of all there is no cost to you to use the services of a mortgage broker. In most cases it is the lender who will pay the mortgage broker a fee for any mortgages the broker places with the lender
One of the members of our team is Lawrie Thom of Centum Pacific Mortgages Inc. He has assisted many of our clients with their financing needs. If you would like to contact Lawrie either complete the form below or call him direct at 604-961-2400.
