The two questions that everyone asks me are: ‘Are house prices going to go down?’ and ‘Is it a good time to fix my mortgage rate?’

– Evan Davis

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Finding a home is an exhilarating experience! But paying a chunk of monthly income as mortgage payment is nerve-wracking too. If you are a first time home buyer then it will be difficult for you to find the best deal. Follow these tips to get good mortgage rates in the market.

If you want to get the best possible mortgage interest rate then you should have a perfect credit score.

Maintaining a good credit score paves more chances to get good mortgage rates.

Follow personal strict financial practises to improve your score.

Track your credit score

If your debt-to-income ratio is more than 40% you have no choice to apply for the loan.

The maximum ratio you can have is 38% and if you have debt-to-income ratio lower than 30% you are eligible to get good mortgage rates

Debt-to-income ratio

Applying for home loan is terrific if you are personally approaching a lender. But it will be stress free if you choose an efficient mortgage broker.

Hire highly experienced and full serviced mortgage brokers since they know more about mortgage ratings.

Choose right mortgage broker

Start your renewal process six months before the due date.

Starting earlier helps you to find the best mortgage deal in the field

Renewal process

Contact the best Calgary brokers for a better dealPhone: 403-615-6132

Toll free: 866-615-6132Website: www.mortgage360.ca