When purchasing a new condominium suite – whether it is your first, second or even beyond – you want the best mortgage deal possible. As with everything else, do your homework and ask the right questions.
For example, during your condo search, ask whether the builder has a connection with a financial institution including a capped rate, which can save you thousands over time. Most condo sales centres have a representative from a bank on hand to help buyers with the attractive financial programs that the builder may be offering.
Consider obtaining your mortgage through this industry professional, as it can simplify everything. The builder’s banking representative is intimately involved in these programs. Using the help that is right there can make the process seamless for you, which is a nice break in these hectic times.
The financial institution representative will also have information on whatever government programs may benefit you, and how and when to apply for them. Remember, the builder wants your business, so it is in that company’s best interest to make purchasing as easy as possible. Your mortgage is one of the most important elements in your new home purchase. Take advantage of every opportunity that will help you buy the suite of your dreams.