Best Mortgage Rates Toronto
To find the best mortgage rates in Toronto, you need to compare all available options from different lenders to find a solution that meets to your needs. But sometimes, even when you know the interest rates offered by different banks, it may not be enough to guarantee you the best rates in the city.
Indeed, mortgage rates will affect how much you pay for interest – but this is only a small component of getting a mortgage. You need professional help when assessing the different types of mortgages offered by banks in order to choose the one that best suits your particular needs and budget.
For example, if you have a tight budget with risk limitations, a fixed-term mortgage may be more appropriate than a variable-rate mortgage, even though the latter may have lower interest rates. It may be hard to find a bank and lender that transparently explains the pros and cons of their mortgage plans, although they may still give you the best option available for your situation. However, this plan may not necessarily be the best one for you in Toronto.
When you come to Northwood Mortgage, we offer a diversity of mortgage products from banks, credit unions, financial companies, trust companies, and even private mortgage lenders from across the province.
We are not tied to any single bank or lender, which means that our agents can give you unbiased advice on the best mortgage rates and products for your budget and needs, including offers that are not available to the general public.
Expert Mortgage Brokers
Different lenders offer different mortgages rates. Additionally, when you visit a bank to shop for a mortgage loan, the lender will probably give you the ‘posted mortgage rates’ – the rate that the bank is advertising publicly. But banks can lower their rates through negotiations, or by working with a representative mortgage broker. Some lenders even offer interest rates that are several percentage points below the posted rate.
Working with our expert mortgage brokers increases your chances of finding a mortgage rate that fits your specific needs – in terms of the interest rate and terms and conditions for prepayment and other loan factors. Northwood Mortgage experts have access to different rates from banks and credit unions across Ontario, as well as trust and insurance companies, so we can “shop around” to find the best rates in Toronto for you.
Our Rates Will Always Be Lower
Northwood Mortgage agents work diligently to provide our clients with interest rates that are always lower than those offered by lenders. In addition to our ability to shop around and negotiate for the best mortgage rates, our brokers also receive discounts from different lenders due to the high volume of business we drive to them. We pass on these savings to you, so you can be assured of getting the best mortgage rates in Toronto when working with us.