When looking for a home in a shifting interest rate environment, you need to make sure that you get a good rate.
An independent mortgage broker is the best starting point – he or she will discuss your borrowing needs, introduce you to your best financing options, and get you a very competitive interest rate.
A broker can also obtain a mortgage pre-approval for you that includes a rate hold of up to 120 days. If fixed mortgage rates rise during your rate hold period, you’ll be protected (and if they fall, you’ll have access to the lower rate).
With a rate hold you’ll have peace of mind about your mortgage rate while you look for the home that suits you best. A pre-approval also means you’ll know how much you can afford to spend on the home.
Nevin Van Nest . Realtor . Royal LePage Foothills
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