• About
  • Android Apps
  • Buying a Home & Your Taxes
  • Charity / Join us
  • Contact Me
  • Disclaimer
  • E-Visit Me
  • Fighting Mold in your Home — The Homeowners’ Guide to DIY
  • Home Inspection Articles – Links
  • Homelife
  • Measure above Sea Level

GTA REALTY AGENT'S BLOG >>

~ Information for Real Estate Buy-Sell-Invest in Ontario, Canada

GTA REALTY AGENT'S BLOG  >>

Tag Archives: mortgage renewal

Finding Best Mortgage Rates

19 Tuesday Apr 2011

Posted by gtarealtyagent in current real estate affaiirs, FAMILYLAW & REAL ESTATE, FSBO, Green Investment, H.S.T., Home Reno (adds The Value), Houses, Interest Rates, Leasing/Renting, Let's Talk Investing, Mortgage, Opinion, Real Estate info & ideas

≈ Leave a comment

Tags

debt consolidation, home equity financing, mortgage rates, mortgage renewal, refinancing


Finding Best Mortgage Rates



For most Canadians, shopping around for a mortgage is something that happens once every five years. This is the time to figure out if you can get a better mortgage rate, and lock in something new for another five years. But if you want to get the best possible mortgage rate, whether you are renewing, refinancing or buying a home, you will have to do a little legwork.

First Things First: What’s Your Financial Situation?

Before you start shopping around for a mortgage rate, you will need know your own financial situation. Get a good handle on the following aspects of your finances before you start shopping around:

  • Income
  • Debt
  • Expenses
  • Credit History/Score

You should also have a general idea of what you can afford in a home, as well as how much you are planning to borrow. This will give you basic information that banks and mortgage brokers can use as they prepare a quote for you.

Before you start looking for a good mortgage rate, you need to make sure you are in a position to afford your mortgage. With a renewal or refinance, it is a little bit easier to know what you can afford — you are already making payments! If you are buying a home, though, you will need to consider the costs of home ownership, and recognize that a home comes with costs beyond the mortgage. Make sure that you can afford the mortgage plus the added expenses that you will see. There are many online calculators that can give you an idea of what kind of mortgage you can afford.

Shopping Around for the Best Mortgage Interest Rate

Once you know your financial situation, and once you have a pretty good idea of what you can afford, it is time to start shopping around. Be sure to familiarize yourself with the different mortgage options available, and get a general idea of the mortgage product that is most likely to benefit your individual situation. Then, once you have an idea of what you are looking for, it’s time to shop around.

You might want to start at your bank, and then compare what your bank is offering to what is being offered by other banks, and by what a mortgage broker is likely to get you. Make sure you get all offers in writing. Let banks and brokers know the basics of your situation, without filling out a full mortgage application. Instead, treat each lender or broker you speak with as if you are interviewing him or her. Find out how knowledgeable each is about mortgage products and services, and find out what sort of rate is available to you. You can try to ask for the best rate in some cases, although you may have to use the posted rate as a starting point for negotiating down.

Be sure you are comparing apples to apples throughout the process, and make sure that banks and brokers know that you are shopping around. You want them to offer their best possible mortgage rate, and you want to be able to make meaningful comparisons between that rate and what is being offered elsewhere.

In the end, what is offered to you will depend on your financial and credit situation, as well as market rates. But, by shopping around you can figure out what would work best for you.

This blog communication is for public awareness and public responsibility, for client and customer benefit and best intrest in mind.

Vijay Gandhi is an Re/max Real Estate Sales Rep. &  independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.
Have you considered a 50/50 Mortgage?

As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!

Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today!We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…

Thanks for visiting my web sites:

vijaygandhi.com , icxforsale.com & torontomortgagetrends.com

Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate!
*condition apply/sub. to availability

Vijay Gandhi,
Sales Representative- REALTOR®

RE/MAX Dynasty Realty Inc. Brokerage*

&

Mortgage Agent – Lic.# M10001947
CENTUM Metrocap Mortgage Corp. Lic.#11074

C: 647-267-6338 (Direct-Leave message or text)
O: 416.335.4335 | 905.471.0002 (page me-Have me)
F: 905.471.7441
E-MAIL: vtgandhi@yahoo.com , vgandhi@remax.net
WEB:  www.vijaygandhi.com , www.icxforsale.com
BLOG: https://gtarealtyagent.wordpress.com/
“YOUR PERSONAL REAL ESTATE & MORTGAGE ADVISOR® FOR LIFE”
Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!

Share this:

  • Email
  • Reddit
  • Twitter
  • Print
  • Facebook

Like this:

Like Loading...

Enter your email address to follow this blog and receive notifications of new posts by email.

Pages

  • About
  • Android Apps
  • Buying a Home & Your Taxes
  • Charity / Join us
  • Contact Me
  • Disclaimer
  • E-Visit Me
  • Fighting Mold in your Home — The Homeowners’ Guide to DIY
  • Home Inspection Articles – Links
  • Homelife
  • Measure above Sea Level

Categories

  • BANK SALE P.O.S. – TAX SALE
  • Business
  • condo assignment investments
  • Condos
  • current real estate affaiirs
  • Development
  • FAMILYLAW & REAL ESTATE
  • FSBO
  • Green Investment
  • H.S.T.
  • Home Reno (adds The Value)
  • Houses
  • Interest Rates
  • International
  • Leasing/Renting
  • Let's Talk Investing
  • Listing of the Day
  • Mortgage
  • Multiplex-Multi Residetial Investment
  • Neighbourhoods
  • New Canadian Immigrants
  • New Development/Week
  • Opinion
  • POWER OF SALE-FORECLOSURE PROPERTY
  • Pre-Construction
  • Re/Max
  • Real Estate info & ideas
  • Rental
  • Search
  • Stories!
  • Toronto Politics
  • TREB/OREA/CREA
  • Uncategorized
  • Unemployment
  • Videos-Pictures
  • VIP Condo

BANK SALE P.O.S. - TAX SALE Business condo assignment investments Condos current real estate affaiirs Development FAMILYLAW & REAL ESTATE FSBO Green Investment H.S.T. Home Reno (adds The Value) Houses Interest Rates International Leasing/Renting Let's Talk Investing Listing of the Day Mortgage Multiplex-Multi Residetial Investment Neighbourhoods New Development/Week Opinion POWER OF SALE-FORECLOSURE PROPERTY Pre-Construction Re/Max Real Estate info & ideas Stories! Toronto Politics TREB/OREA/CREA Uncategorized

Top Clicks

  • None

Archives

Meta

  • Register
  • Log in
  • Entries feed
  • Comments feed
  • WordPress.com

gtarealtyagent tweets

  • RT @Schwarzenegger: My message to my fellow Americans and friends around the world following this week's attack on the Capitol. https://t.c… 1 year ago
  • RT @CTVToronto: #BREAKING: Health officials in Ontario are confirming more than 400 new cases of COVID-19 for the third day in a row. http… 1 year ago
  • RT @IChitrangda: Indifference makes us blind . We have to have to be better than this .. #WeAreTheVirus #RIPHumanity 😔 https://t.co/NTvHccd… 2 years ago
  • @Breaking911 ? 2 years ago
  • RT @ONtransport: #ScamAlert: DO NOT use roadtestontario. org, this is a fraudulent website collecting private data. To book a road test for… 2 years ago

Recent Posts

  • Bank of Canada hikes key interest rate 50 basis points for 1st time in 22 years!!
  • The Bank of Canada raised its target for the overnight rate to 0.50 per cent.
  • Despite record high inflation, Bank of Canada holds interest rate steady & Unchanged
  • The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. Feb/05/2020
  • Two Big Six banks hike benchmark rates by Approximately 45 BPS, Despite BOC holding its rate.

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 14 other followers

Blog Stats

  • 108,892 7998

Create a free website or blog at WordPress.com.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy
  • Follow Following
    • GTA REALTY AGENT'S BLOG >>
    • Already have a WordPress.com account? Log in now.
    • GTA REALTY AGENT'S BLOG >>
    • Customize
    • Follow Following
    • Sign up
    • Log in
    • Report this content
    • View site in Reader
    • Manage subscriptions
    • Collapse this bar
 

Loading Comments...
 

    %d bloggers like this: