When it comes to choosing your mortgage, it’s important to seek objective advice to ensure you make the right borrowing decision and pay off your debt sooner.
Choosing the home you love can be an exciting and rewarding experience. But it could also be one of the largest financial decisions you will make. Whether you’re buying your first home, upsizing, downsizing or refinancing, a financial advisor can help make sure you have all the information you need to make the best decision.
Home financing features to look for
- Customized—A professional advisor can analyze your goals and refer you to a home financing solution that complements and enhances your overall wealth management strategy.
- Flexible—Make sure you have access to the mortgage option that’s suitable for you, and borrow at preferred “no haggle” rates for greater convenience and cost savings.
- Objective—Make sure you’re getting truly objective advice to help you make the best choice so you can minimize interest charges and eliminate your mortgage sooner.
A financial advisor, for instance, will typically start by asking about your home ownership goals, finances, career and lifestyle. A mortgage professional can provide you with access to a mortgage solution that fits your life and complements your overall financial plan. The goal should be to provide you with a home financing solution that you can feel good about—while having a clear plan to retire your debt and build your overall wealth.
Key mortgage options to consider
- Fixed, variable or both—Choose a fixed-rate mortgage, a variable-rate mortgage or a combination of the two.
- Term—Select a mortgage term ranging from one year to 10 years, and benefit from ongoing financial planning advice when it’s time to renew.
- Amortization—Choose an amortization period that fits into your overall financial plan and minimizes the total cost of borrowing to buy your home.
- Pre-payment features—If possible, seek flexibility through the option for lump sum payments, increasing monthly payments or payment frequency, as this could reduce the amount of interest you pay.
Find a mortgage tailored to you
Your financing solution should be custom-tailored for your needs, created by mortgage specialists dedicated to servicing clients like you. A comprehensive approach to wealth management will fully integrate your mortgage with your overall financial strategy. As a result, you can make buying the home you love part of a larger plan to manage your debts wisely and grow your personal wealth over the long term.
Choose the right insurance protection
Your home is one of your most valuable assets, and choosing the right debt protection can be as confusing as choosing the right mortgage. Ultimately, it’s important to explore insurance solutions that will protect you, your family and your home from the financial impact of an unforeseen event. The right insurance protection can also give you a head start on your future wealth management needs.