🏡 Considering a mortgage with a low interest rate? It's just one piece of the puzzle when it comes to minimizing your borrowing costs. 🧩 Here are some key factors to consider:
📅 Duration of Residence: Your intended stay in the property influences the right mortgage term.
🌍 Future Mobility: If you expect moves or value flexibility, consider portability.
💼 Prepayment Penalties: Understanding these is crucial for cost management.
💰 Interest Rate Differential (IRD): Lender calculations can affect expenses.
🏦 Prepayment Privileges: Evaluate options for faster payoff.
📜 Mortgage Title Registration: It could affect future lender options.
📊 Mortgage Type: Fixed, variable, HELOC, or reverse—weigh the pros and cons.
💲 Down Payment Size: A larger down payment might save on insurance premiums.
Low rates may hide hidden costs. My goal is to help you secure a mortgage that aligns with your financial situation. Reach out—I'm here to assist you every step of the way. 🤝💼
https://www.dianebuchanan.ca/
