Explore the home-buying facts with CMHC and FCAC
Both the Canadian Mortgage & Housing Corporation (CMHC; www.cmhc-schl.gc.ca) and Financial Consumer Agency of Canada (www.fcac-acfc.gc.ca) websites have terrific information about buying a house -- interest rates, variable-rate mortgages, high-ratio mortgages, pre-approvals, etc, etc.
The Mortgages 101 section on the FCAC site is a must read for a home buyer as it discusses amortization periods versus interest rates, and then offers suggestions on making additional payments.
When it's time to buy a house, talk to me, talk to your bank and a mortgage broker, ask me for a few referrals. It's a fun process to purchase a home, but -- just like buying a car -- an educated consumer is the best consumer.
If you think there's a 100 questions to be possibly answered on the FCAC site, there's likely 101. Maybe that's why they call it: Mortgages 101.
Mark Schadenberg
Sales Representative
Royal LePage Triland
519 537-1553
Email: mschadenberg@rogers.com
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