Buying a home is probably one of the biggest emotional and financial decisions you'll ever make. So it's not surprising that moving is rated as one of the most exciting and stressful times in one's life. Not only are there a lot of things to think about: location, affordability, mortgage term and rate, etc; but there are also quite a few people you'll need to deal with: real estate agent, lender, lawyer, seller, etc. Fortunately, there are a number of tools to help make buying a home an easier and more enjoyable process, one of which is the pre-approved mortgage certificate.

Recommended Mortgage Consultants

Cindy Pusateri is an Accredited Licensed Mortgage Agent and has had an illustrious career in matching details to suit her clients' diverse needs.

Known for her professionalism, empathy and listening skills with her mortgage brokering, she is accomplished in the facilitation, management and consolidation of the best custom packages for her diverse clientele.

As a Senior Mortgage Agent with Invis Cindy is committed to providing every client with unsurpassed customer service.

Most of all it’s always service with a smile!

Cindy resides in Downtown Toronto, for more information please call 416-926-0529 for your Mortgage Consultation.

visit her web site: 

www.mortgagesbycindy.ca

As a Mortgage Consultant with Invis, I am in a position to offer to you the most innovative and competitive mortgage products from over 50 lending institutions. 

I will work closely with you to customize a mortgage that is just right for you whether you are a first time buyer or the seasoned homeowner looking to access home equity, transfer or refinance an existing mortgage.

Likewise, if you are looking to renovate your existing home or consolidate existing debts, I can provide you with effective solutions to help take the burden out of the process.

With great products and great service, let me help you.

visit his web site:

www.mortgagesbyrichard.com

Choosing the best mortgage term.

Selecting the mortgage term that is right for you can be a challenging proposition for even the savviest of homebuyers, as terms typically range from six months up to 10 years. By understanding mortgage terms and what they mean in dollars and sense, you can save the most money and choose the term that is best suited to your specific needs.

The first consideration when comparing various mortgage terms is to understand that a longer term generally means a higher corresponding interest rate. And, a shorter term generally means a lower corresponding interest rate. While this generalization may lead you to believe that a shorter term is always the preferred option, this is not always the case. Sometimes there are other factors – either in the financial markets or in your own life – that you will also have to take into consideration when selecting the length of your mortgage term.

If paying your mortgage each month places you close to the financial edge of your comfort zone, you may want to opt for a longer mortgage term, such as five or 10 years, so that you can ensure that you will be able to afford your mortgage payments should interest rates increase.

By the end of a five- or 10-year mortgage term, most buyers are in a better financial situation, have a lower outstanding principal balance and, should interest rates have risen throughout the course of their term, will be able to afford higher mortgage payments.
If you are shopping for a mortgage for an investment property, you will likely want to consider choosing a longer mortgage term – depending, of course, on your overall plan. This will allow you to know that the mortgage payments on the property will be steady for a long time and enable you to more accurately project your future income from the property.

As well, if you know you will not be staying in the same home for the next five or 10 years, opting for a shorter term can save you significant fees when it comes to early payout penalties.

Choosing the right mortgage term is a unique decision for each individual. By understanding your personal financial situation and your tolerance for risk, I can assist you in choosing the mortgage term that will work best for your situation.

As always, if you have any questions about mortgage terms or your mortgage in general, call Cindy or Richard today! They are here to help!

About Invis

Invis, Canada’s mortgage experts^TM, has a national team of mortgage professionals to serve Canadians from coast to coast.  Invis mortgage professionals provide expert, unbiased mortgage advice to first time home buyers as well as those looking to renew or refinance their mortgage, purchase investment properties, or consolidate debts.