As a prospective homeowner you don’t need us to tell you that you’re about to make a big investment. Taking a mortgage out to buy a home will most likely be the biggest investment you ever make, so it’s important to take the time to think it through and get the best possible deal. At North East, we have cultivated business relationships with the country’s largest financial institutions in our quest to offer the best mortgage rates in Montreal and Quebec as a whole.
Think the deal you accept doesn’t matter much? Let’s crunch a few numbers to see the difference. Say two families borrow $300,00 to buy a home and both put down 20% on a 30-year mortgage — if the former family agrees to a 5.5% rate and the latter a 4.5% rate, the latter will come out more than $50,000 richer over the lifetime of the loan. Not bad for a bit of shopping around.
That example demonstrates the value our experienced mortgage lending team brings to you. Our dedication to examining the market, bargaining with the industry’s big shots, and understanding your needs, goals, and capabilities is what has helped us reach the top of our field. Nobody knows local mortgage rates in Quebec like we do. It’s hard for us to quantify just how much is at stake when you look for a mortgage. All we can tell you is that getting the best deal can be the difference between financial prosperity and a potentially ruinous decision. With North East, Terry and the team will help you get the loan that best suits your unique set of circumstances, and ensure that you save as much as possible over the life of your mortgage.
More than just rate shopping: the secrets to mortgage lending and how North East helps
There’s something that the lending industry doesn’t want the public to know: a loan is about more than just your credit score. Sure, that number matters, but there is so much more to it than that, and that’s where a reputable team looking for the best mortgage rates in Montreal, Laval, West Island, and the rest of Quebec really shows its merit.
Were you aware that factors such as:
- Income stability
- Debt-to-income ratio
- Ability to place a down payment
- And even your location
Can drastically affect the final numbers? Finding a good mortgage is already hard enough. Finding a good mortgage that perfectly suits you is even harder. Our team will research the market and take into account each detail while shopping for your loan.
Shopping is easy in theory (just compare rates, right?), but is so much harder in practice. Only knowledgeable and experienced local professionals can get you the best deal. What makes it even more complicated is that sometimes the best deal isn’t the one with the lowest interest rate, and lenders will often hide information for their personal financial gain. We make sure that doesn’t happen.
North East Mortgages: continuously proving the value of reputable mortgage professionals
As we stated before, disreputable lenders and powerful financial institutions have a vested interest in getting the best terms for themselves and not for you. It isn’t immoral, it’s just business. As long as they are not breaking the law, they are doing nothing “wrong” , they are just trying to make the most money from you. That’s where North East enters the picture. As your reputable lending team, we ensure that you get the absolute best rate possible. Our knowledge of the market bridges the gap between your financial needs and the means to making it happen. One of the hardest concepts that our clients struggle with is understanding that sometimes a loan with the lowest interest rate isn’t always in their best interest. You must consider:
- The life of the loan
- The type of loan
- Your down payment
- Any fees associated with the loan (some fees are sky-high)
- And the total principle of the loan as well
And that’s just the start. The more we learn about your personal financial situation and desired future, the more fine-tuned our search can be. You can rest assured that what you end up with will be the absolute best loan for you with the best mortgage rate in Montreal possible.
Quebec mortgage rates: why now is the time to buy with a local agency
There are a few intangible benefits that going with a local agency can bring before even considering the hard financials of the situation. A personal touch, real knowledge of the community, and a familiar face that knows just how unique life in this city and province are. We are more than just a unique culture within a big country, we are an isolated island surrounded by an entire continent that is different from us.
In real terms, factors such as the location of your home and local market trends can affect how much you need to borrow and which terms the lender arrives at with you. Having a local broker that knows the mortgage rates in Montreal like the back of their hand is invaluable.
In terms of local mortgage rates, now is the time to buy. Markets like Montreal have remained remarkably affordable over the years, especially compared with neighbors like Toronto, and with rates a full point lower on average than they were just a few years ago, it’s time to strike while the iron is hot.
When you’re ready to find the best mortgage rates in Montreal, Laval, West Island and the rest of Quebec, get the team at North East to help you find it.
Find out more about our Mortgage Broker’s in Laval, West-Island, Montreal, and Quebec