5 Year Fixed 3.44%

5 Year Variable 2.70%

CTV Morning Live: Mortgage Minute February 27, 2018

CTV Morning Live: Mortgage Minute February 27, 2018

Date Posted: February 28, 2018

Frank Napolitano of Mortgage Brokers Ottawa speaks with CTV Morning Live about getting a mortgage before buying a home.

Host Henry Burris is joined by Frank Napolitano discussing clients providing upfront documents when looking at getting pre-approved. This will help your Mortgage Broker asses your application and will help them figure out how much home you can afford. Lenders are becoming very stringent regarding paperwork submitted and will question any inconsistencies.

Shopping for a rate is made easier when working with a Mortgage Broker. One bank may approve you with one rate but another bank may be offering a better rate and a similar product. A Mortgage Broker will use one credit bureau to shop for these rates for you which avoids having multiple banks pulling your credit report multiple times.

 

Frank recommends being proactive if your mortgage is coming up for renewal, especially in the next 4 months, by contacting your bank or Mortgage Broker to lock in a rate to safeguard against any future rate increases.

 

See the full video here!