It is not always the lowest rate that is the most important aspect of your mortgage


Discuss a list of items you should ask about your broker or bank when negotiating your next mortgage:

– How much can I prepay per year with no penalty?

– When can I make these payments?

– How much can I increase my payments per year?

– What is the penalty to break my mortgage? (most are 3 month penalty, with fixed terms having a potential Interest Rate Differential Penalty)

– How is my IRD penalty calculated? (major banks have a really nasty calculation for their penalties that could cost you 2.5 times more than a “non-bank” lender)

– Am I guaranteed your best rate when I lock in? (most major banks don’t offer a guarantee)

– 5 more questions (subscribe to

It isn’t always about rate – it’s about value!

A good broker will ask what your goals and intentions are to ensure your mortgage is properly set up for your short term goals but also for your long term goals.

Ozzie Jurock

Ozzie Jurock

Ozzie helps members build an action plan toward real estate success with his Real Estate Action Group, arming investors with the best information and insights possible with his Jurock Real Estate Insider. More info

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