We constantly see advertising around "cheap loans" the "lowest rate". There is also an increasing number of non-traditional lenders getting into the market promising the lowest rate.
But the lowest rate is not always the best rate!
What many of these "lenders" aren't telling you, is that these rates often come with increased risks. Risks that this new lender will only meet your needs of a cheap home loan for the first few months; maybe a couple of years, before they can no longer meet your other needs and it will come at a cost to you.
There are detailed studies that show the price, although important, is generally not the main reason for consumers to purchase a product; especially financial products. So why then do rates become the focus of conversation when it comes to borrowing?
Many would argue that buying a property will likely be the biggest investment in your life. Others it's simply their distaste when it comes to banks.
There have been, and will continue to be, significant changes to the mortgage market and the bank's risk appetites. Many know foreign income earners, investors, interest only repayment makers, business for self and many more have been targeted to reduce the potential risks in the mortgage market as well as the risks around potential for increase in defaults as some borrowers will struggle after gorging themselves with debt over the last decade.
So why can't you have cheap and good home loan? Maybe you can.
I will do the hard work and look at your long term goals to ensure the financing we obtain is beneficial to you and your dreams. This means that you and your new bank need to understand one another; and, this means that your new bank will want more information than you'll likely be comfortable sharing in order to make this relationship work. I will work for YOU to make sure that you're getting the RIGHT product at the best rate for your personal situation. Customized, holistic advice will ensure you find the best fit.
In an age of information it is easy to become overhwhelmed. After all, we can only digest so much. Don't get lost the in the marketing and appeal of the lowest rate.
Call me at 905-320-4477 to discuss your goals and let's look at finding you the perfect relationship.