Every time my husband and I have to start
thinking about our mortgage renewal, I get a little stressed. I always hope
that the rate we get will be the same or lower (for all my loyal readers, you
know that I am all about saving money and getting the best deal I can – our mortgage
is no different) but the fear of an increase is always there.
In the past I didn't know how to go about
finding the best rate, but now I do. LowestRates.ca offers a great comparison
tool for finding the best mortgage rate. In 30 seconds, I had entered in the required
information and was provided with the best rates for mortgages in my province,
listed from lowest to highest. You can
then click on each one to check out the details.
When you are entering your information you
can choose what type of mortgage you are looking for (closed, fixed, variable;
you can even change the amortization term)
Not in the market for a mortgage? You can
also compare rates on credit cards and insurance companies.
Are you thinking it will be difficult to
use because you don't know the lingo? Don't worry, they have a glossary of
terms right on the website, a help center which describes the differences
between the types of mortgages and other information which you need to know
(closing costs for house purchases etc) and a 1-888 number to call for help
with mortgage and credit card information. In addition to the useful
information on the site, they have a blog filled with
other financial information and you can subscribe to their monthly newsletter,
to help keep you up-to-date.
You can connect with them on Facebook and twitter.
I never knew this existed, thanks for the post and I'll be definitely checking them out!
ReplyDeleteThe glossary would be so helpful!
ReplyDeleteI think it is great that we have some options now and can find a way to save a few of our hard earned dollars.
ReplyDeleteThat is a neat tool! Thanks for sharing, I'm going to have to check it out.
ReplyDeleteits really would be so helpful!
ReplyDelete