TORONTO, Ontario (CU)_For many Canadians, when finding a suitable mortgage deal or renewing your existing mortgage, the goal is to secure the lowest interest rate offered. However, according to some mortgage brokers, this may not always be the best way to save money or reduce debt on your home loan, since such deals may result in several other consequences.
In order to find the right mortgage at the right time and at the right rate, gaining a deeper understanding of the borrower’s unique circumstances is critical, experts at Citadel Mortgages say. “We are on a mission to help Canadians become mortgage-free sooner through education and transparency – not simply through flashy low rates,” Tristan Kirk, Citadel’s managing partner and principal broker, said. “We are helping to reduce the stress typically associated with the transaction and pulling back the curtain to reveal more about how to balance home ownership with long-term financial well-being.”
According to Matthew Nichol, partner and mortgage broker with Citadel, there may be…
