You are looking to buy a home. This is an exciting time. But, there is always a catch, isn’t there? First, you need to know if you can afford the home you want and you also need to know how to find the mortgage that is right for you. How do you figure this out? Especially if you live in a large Canadian urban market, like Toronto, where house prices seem to never stop increasing.
Traditionally you would look for a mortgage specialist like a mortgage broker, or maybe call your banker, if you have one. These are traditional professionals that can help you understand how much you can afford and walk you through the mortgage process. If you have a strong relationship with your banker, perhaps you will prefer to work with them. Those of you that do this should understand that your banker can only show you the mortgages and rates that their bank offers. You will have to look around elsewhere yourself to see if your bank’s offering is best for you. This is where a good mortgage broker can help.
