Sarah Colucci shares three essential questions you need to ask your mortgage professional

1. Are you protected with a fixed interest rate for the duration of your mortgage term?
The answer is no. When interest rates go back to normal levels there is a possibility that you will experience payment shock. Remember, interest rates are at a historical low today. Speak with your mortgage professional about avoiding payment shock and shortening your amortization to become mortgage free sooner.

2. What mortgage strategy do you recommend and why?
The key word is strategy. Anybody can quote an interest rate, but the lowest rate doesn’t mean you will save the most money. Your mortgage professional should advise you on optimizing the market to maximize your profits and reduce your living expenses.

3. What type of proactive plan do you have for my mortgage?
If your mortgage is not being reviewed on a consistent basis, it’s costing you money. Without the right variable rate mortgage you can actually extend your amortization when rates rise. Be sure that your mortgage professional reviews your mortgage often and keeps in touch.

For more info and free mortgage tips, visit
www.sarahcolucci.ca
Twitter: @SarahColucciMtg
Facebook: Sarah Toni Colucci, Mortgage Agent
647-773-4849
scolucci@dominionlending.ca