Finding your mortgage fit

You step through the door and feel the exhilarating rush that tells you this is the one this is the house for you. You’ve decided on the house, but now you need your financing in place to seal the deal.

Thanks to tools like the Internet, home buyers are more mortgage savvy than ever and much more aware of the variety of products and services that
are available. But with such an extensive range of options available in today’s market, it can be difficult to wade through and find the one that is
right for you. That is why almost one-third of Canadians are turning to a mortgage broker when making the biggest financial decision of their lives.

The goal of a mortgage broker is to meet the needs of their client and see them through their mortgage transaction from start to finish. Brokers are the ideal source for mortgage information because they have extensive industry knowledge and will ensure you’re getting what you need from your home financing.

By assessing your financial style and examining your current financial picture, a mortgage broker can give you the pros and cons of various mortgage features, such as variable versus fixed-rates, longer amortizations, interest-only and zero-down payments to help identify which option is best for you.

Once your needs are clearly identified, your broker has access to a large assortment of mortgage products and lenders to choose from and can identify
the one that is right for you. A mortgage broker will also take into account your plans for the future. Perhaps you want a second home or an investment property down the road. Your mortgage broker can help you structure your finances now to make your future plans attainable.

Walking you through your first mortgage step-by-step is really just the beginning of what can grow to become a lifelong relationship. Your broker
can help you with a variety of transactions like refinancing, debt consolidation, or purchasing an additional property for recreation or as an investment. They will always be looking out for your best interests.

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.