I'm sure that you have heard on the news about the extremely low rates currently available from some Canadian Banks right now!

While rate is important, it may not be the most important factor in your situation.

Here are some of the items you should take a look at when negotiating your next mortgage (and there are more...).

1. The maximum amortization period

2. How long will they hold the rate for you? Can I arrange this mortgage before I start looking for a home?

...

3. Can you be pre-approved for this mortgage? See #2.

4. Can you make lump-sum pre-payments? How many? To what maximum?

5. Can I choose to change payment size? How much?

6. Is the term closed? Can I refinance or early renew before the term is finished?

7. Can I skip a payment(s)> What if an emergency arises?

If you would like great mortgage advice from a mortgage expert, contact us today and we will be happy to connect you with a mortgage specialist to fit your needs.

Reach Tracey at (519) 500-1226 or Tracey-Appleton@ColdwellBanker.ca.