Today’s Good News: –
- The Canadian Real Estate Association said Tuesday that home saleswere up just under one per cent from August to September, while overall …
- The Canadian Real Estate Association said Tuesday that national salesof 38,147 during the month were up 18.2 per cent from September …
- The national average price for homes sold in September 2013 was … The Canadian Real Estate Association is one of Canada’s largest …
- … month rose 18.2 per cent from a year earlier, the Canadian Real Estate Association said Tuesday. September’s sales were slightly above the …+
And before you buy, check this out: –
The ultimate mortgage checklist: How to get the best possible deal
The lowest possible rate is how many define a good mortgage. But that’s like judging the “best car” by the one with the lowest monthly payment.
Anyone who’s had to cough up a mortgage penalty or deal with refinance limitations can vouch for one thing: Mortgage restrictions can easily outweigh small (e.g., 0.10 to 0.15 percentage point) differences in interest rates.
It’s tough to predict your refinance needs three or four years out. Statistics show that well over half of Canadians with a mortgage renegotiate before their term is up. And the average five-year borrower changes their mortgage every three-and-a-half years.
That’s why it often pays to trade a slightly lower rate for more flexibility, unless you know you won’t change your mortgage during its term. A cheap rate can certainly save hundreds of dollars up front. Just be sure it doesn’t cost thousands after closing.
On that note, here’s a list of questions to ask your mortgage expert of choice. Check the boxes one by one as you talk with your adviser. With a little effort, this list will help you snare the most feature-rich mortgage possible, at a rate that’s better than average.
Download the PDF version of this checklist.