If high mortgage interest rates have been keeping you from purchasing a home of your own in Edmonton, it’s time to get moving on that now. Due to the low current mortgage rates, Edmonton Alberta is the prime spot to finally settle down and make your move to home ownership.
You need only look as far as your local Edmonton mortgage broker to realize that rates are so low, lower than they’ve been in decades, that if you don’t make a move to obtain a mortgage now, you may never be financially able to do so. This is the prime time for investigating your options for obtaining a mortgage, while rates are historically low.
As of late August, 2014, a variable closed 5-year mortgage rate can be found at just 2.24%! For just slightly more, at 2.79%, you may qualify for a fixed rate loan, where the monthly payments do not fluctuate as interest rates rise. There are also 3-year and 2-year mortgages, nearly all of them being offered at below 3% at this time.*
How Do You Take Advantage of These Rates Right Now?
The best way to ensure you are getting the lowest interest rates and the best terms possible is to work with your Edmonton Alberta mortgage broker. A mortgage broker will do all of the work for you, finding the lowest rates after investigating hundreds of lenders in Canada. Not only will your broker be on the lookout for the lowest possible rates and the best possible times to lock in that rate, but he or she will also know which type of loan you will qualify for.
A fixed closed mortgage loan gives borrowers peace of mind, knowing that their monthly payments will always be the same. But for those who prefer a little risk, thinking that perhaps rates will go even lower, a variable closed loan might be preferable. If you plan on buying a home and fixing it up, a broker will find the perfect lender who will help you finance your renovations within the mortgage. If you wish to buy, fix up and then resell a home for profit, your broker will help you arrange a mortgage with no pre-payment penalties on the mortgage or arrange a Line of Credit instead.
Whichever type of loan you choose in order to purchase, renovate or refinance your current loan, the time to do it is now, while rates are low. It’s much easier, more convenient, and will save you money to obtain your loan through a mortgage broker. You will receive unbiased advice and have access to those hundreds of banks and lenders throughout the Canadian Provinces.
If you’ve been putting off buying a home, waiting for “the right time,” wait no more. Save money with today’s low rates. You can spend just an hour or less of your time with the professionals at MyMortgageBroker.com and gain the information you need to make an informed decision, with no pushy sales monologues. Call us today at 403-870-2669. Go to our web site to fill out a few details about yourself and get an answer in less than hour as to the amount of mortgage YOU can qualify for today