What Matters Most
Shopping For The Best Fixed Rate In Alberta?
–Posted By Mike Hamdan–
A Licensed Mortgage Agent With Dominion Lending Centres/Eagle Group Mortgages Since 2009
If you live in Alberta and have an excellent credit score with provable income, but don’t have time to waste, then you are in for a treat.
Because in the next 60 seconds, I am going to show you how to differentiate between a gimmick rate VS the best mortgage rate simply by asking the right questions outright:
- Is this an effective rate or the actual contract rate?
- If the proposed low mortgage rate is an effective rate, can you tell me what is the actual contract rate?
- What are the advantages and disadvantages between the two?
- Are there any restrictions if I proceed with the proposed mortgage?
- What are the prepayment options?
- What happen if I decide to sell the property during the term?
- Can I leave the lender during the term to refinance my mortgage elsewhere?
- How the lender calculates the penalty?
- Is the mortgage portable?
- Is the mortgage assumable?
Ideally, you want to ensure the proposed mortgage combine the best rate and total flexibility. Need help understanding your options? Click here to discuss your options with an experienced mortgage professional near you.
About the contributor:
Mike Hamdan, has been a Licensed Mortgage Agent with Dominion Lending Centres/Eagle Group Mortgages since 2009. He has proven track record and many happy clients – Click on the link below, to read what some of his clients have to say: comfortablemortgagepayment.ca/testimonials
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