Mortgages are NOT just about rates… read this: 👇

Most people focus on rate. No wonder, it’s what the media talks about all the time.

Although rate is important, there are other aspects that are just as important:

👉 The terms and conditions of your mortgage. 👈

Fact: Most Canadians break their mortgage before the term is up.

Life happens, you need to sell your home, refinance, move, etc.

In any of those cases, you’d need to break your mortgage. That’s where terms and conditions come in.

💯 You should be using a mortgage broker that knows their stuff, explaining to you exactly what you should be doing, based on your unique situation and goals.

➡️ For example, a client of mine was looking at a 5-year fixed mortgage.

I calculated for them what the cost would be if they needed to break it after 3 years:

A mortgage from one of the 5 big banks, the cost would be between $17,000 – $26,000 (approximately).

But, with my recommended mortgage lender, the cost would be just $10,000 (approximately). 😲

Why so much lower?

💥 Because the terms and conditions! 💥

The big banks (and many lenders) have large fees hidden in their mortgage loans, which is why they offer a slightly lower rate.

They know they’ll make that money back 10X in fees that you didn’t know about.

So yes, getting a good rate is important. But getting the right terms and conditions is equally if not more important.

Hope that helps. Reach out if you need any guidance for your situation. 📩

Leanne Funston 
The Place To Mortgage - Mortgage Alliance 

📧 [email protected] 
☎️ 250-320-5514 
🖥 www.leannefunston.ca