Kwiheed

When looking for a mortgage, it pays to call several lenders and compare rates.  Don’t just go with your broker’s recommendation. Figure out how much you will pay each month for each scenario.  For adjustable rate mortgages, assume interest rates will rise the maximum allowed by law.  Read all mortgage documents carefully.  Make sure they don’t contain a lot of restrictive clauses or add-on charges.  Some, for example, may require that you pay the bank’s attorney’s fees and processing expenses.  Negotiate to have these removed.