Have you ever found a super low rate on the Internet only to discover—upon speaking with your bank—that you weren’t eligible for it? If so, you’re not alone.
There are countless reasons why the great mortgage rates you find online aren’t all that they appear to be—and this article in the Globe outlines five of them quite clearly. Basically, if the rate has an asterisk beside it, there are stipulations around it—either it’s only available in certain provinces, to individuals with certain down payments, on deals that are going to close quickly, or a slew of other caveats.
A mortgage broker can help you navigate the less-than-transparent mortgage landscape and avoid disappointment. Not only can we make sure get the best rate available to you, but we will also take extra steps to ensure there’s no “fine print” that could cause you extra money down the road.
Long story short: While it never hurts to peruse the Internet to see where rates stand, when it comes to actually applying for a mortgage, it’s best to see a mortgage broker first. We’ll make the process smoother—and finding the right mortgage easier.