Thursday, June 28, 2012

Your First Mortgage

Make sure  you scour the internet before you sign on the dotted line with a bank for a mortgage.  You must understand all aspects of the document that you are signing and the financial institution that is providing the funds.  If you would like further contacts for Independent Mortgage Specialists, let me provide a few names.  You must make an informed decision regarding  your finances.

Kristian Harris of Monster Mortgage has provided me with a short introduction to what's happening:

"While the federal government’s announcement introducing further changes to mortgage rules in Canada is sure to upset some people, believes that today’s announcement will benefit consumers predominantly by:

• Creating more confident home buyers  than ever in Canada
• Preserving equity in your homes helping youto create wealth faster

25Year Amortization

One of the major changes announced today was the reduction in amortizations to a maximum of 25 years – a tightening measure that some are up in arms over. This is simply a return to how Canada was just a few years ago, before the federal government stepped into jump-start the real estate market with the introduction of 35 and 40year amortizations. This particular rule change will help Canadians reduce mortgage interest charges over the term of their mortgage and also help you grow equity wealth faster."

For more information about your mortgage, please feel free to contact Kristian at Monster Mortgage at  your convenience or call me for more his direct contact information.

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