Helping your clients choose the right mortgage

REM Online

Don Proctor

While banks and mortgage lenders reluctantly cut lending rates after the Bank of Canada dropped its interest rate, buyers of real estate have much more to consider than the lending rates when they choose a mortgage.

Lenders that allow frequent lump sum payments, flexible portability and “blend and extend” options, in which terms are extended by blending old interest rates with new rates, are cases in point. Those lenders are not always the banks. It’s often mortgage brokers who find the best options, largely because they can choose from a host of different lenders to tailor mortgages to specific clients, says Rob McLister.

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Michael James

Michael James

Sales Representative
CENTURY 21 Explorer Realty Inc., Brokerage*
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