Most people when getting a mortgage for the first time prioritize a low interest rate above all other factors. While a low mortgage rate can save you a lot of money, there are many other factors to also consider. Our mortgage professionals can help you identify all the factors affecting your mortgage payments and allow you to get the very best deal.
There are many factors that will affect your ability to get a favorable mortgage rate. Here is a small list of some of the more important factors:
- Are you self employed?
- What is your current credit score?
- How much have you payed down on your property?
- where is your property located?
- how many other properties do you own?
- Are you living in the property or renting it out?
As is standard for Canadian mortgages, the mortgages that we arrange are compounded semi annually. This means that the mortgage is compounded twice per year.
We can talk with you and arrange a payment schedual that best suits your needs. Please call or email us right away if you require our help.