If you’re planning to buy a home in the near future, you’ve likely been following the ups and downs of the ever-changing mortgage market.

Arranging a mortgage is a huge financial decision, so it’s important to be organized and do plenty of research before you sign on the dotted line. Here are a few points to consider:

Get With the Program

Homebuyer programs can help open doors to homeownership but they usually require proactive planning, so it’s best to seek professional advice early on.

Strength In Numbers

A detailed budget will provide confidence and peace of mind, so carefully examine your finances to determine what you can comfortably afford.

Seal of Approval

Getting pre-approved for a mortgage strengthens your negotiating position and allows you to act quickly and confidently so that you won’t be left with regrets.

Lock It Down

Most banks can lock in interest rates to safeguard you against potential increases, giving you peace of mind while you’re out searching for your dream home!

Rate Debate

The interest rate is important but there are other factors to consider such as the type of mortgage (fixed/variable or open/closed) as well as the term of the loan.

Mortgage Makeover

Current homeowners can also take advantage of mortgage refinancing options as even a slight adjustment to your terms can amount to huge savings!

Navigating the complex mortgage maze can be overwhelming, especially with all of the changes over the last few years.

However, with a little proactive planning, you can save thousands of dollars in interest charges and significantly reduce the time it takes to pay off your mortgage.