Laughing All the Way to the Bank
It's a wonderful feeling when you finally find the perfect house or condo that you would like to call home.
But, finding the right mortgage at the best rate to purchase your dream home can be equally challenging. It is always best to be an informed consumer.
Fortunately, there are web sites that assist consumers with understanding mortgages as well as comparing mortgage rates.
One of my favourite sites to learn about mortgages is the Canadian Association of Accredited Mortgage Professionals. It has useful information on Mortgage Basics, First Time Home Buyers, Mortgage Industry Information, Accredited Mortgage Professionals, and more. The Mortgage.com also provides useful information on Mortgage Services, Mortgage Calculators & Resources, Mortgage Advice, Mortgage News, and more.
Other sites that allow you to compare mortgage rates before heading to the bank are CANNEX Financial Exchanges Limited – Canada - Mortgages and Financial Post – Market Data.
CANNEX Financial Exchanges Limited – Canada – Mortgages contain free mortgage surveys on Open, Variable to 2 Years; Closed, Variable to 5 Years; and Closed, 6 to 20 Years. In the left margin, click on the heading Mortgages. The free mortgage surveys are located under the Real Time Survey.
Financial Post – Market Data contain mortgage rate comparisons for Closed Mortgages, Long Term Mortgages, and Open Mortgages. Scroll down to the section on Rates and Currencies.
In addition, you may want to check out one of the following titles on Canadian mortgages and mortgage loans from the Toronto Public Library:
Bach, David. The Automatic Millionaire Homeowner : A Powerful Plan to Finish Rich in Real Estate. Canadian Edition. [Toronto] : Doubleday Canada, 2006.
Cefis, Alberta and Roberta Hague. The Truth About Mortgages : How to Make the Most of Your Borrowing Power. Rev. Ed. Toronto : Key Porter Books, 2005.
Gray, Douglas A. Mortgages Made Easy : The All-Canadian Guide to Home Financing. Toronto : J. Wiley & Sons Canada, 2006.
Best wishes to all with your home financing.
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