A mortgage is a loan used to buy a property. As with all loans, how much interest you pay depends on several factors. This link will introduce you to What is a mortgage?
For advice on mortgages, the video, “A guide for mortgage virgins” offers invaluable tips. Watch and listen to Doug Melville, Canada’s Ombudsman for Banking Services and Investments tell you what you need to know before you sign on the dotted line.
He will introduce:
1. Terms of payments
2. Type of rate
3. Privileges and penalties
4. What if you move
5. Mortgage insurance
You have many different choices, and each lender promotes their products in a different way. You can learn more here about What choices do I have when I shop for a mortgage?
If you’re looking for a reputable Mortgage Broker in the Metro Vancouver area let me help you. BTW, I do not accept referral fees for referring clients to a Mortgage Broker.