CTV Morning Live: Mortgage Minute - March 24
Frank Napolitano joins Jeff Hopper on CTV Morning Live to share a few useful tips to help you get out of your mortgage quicker.
On this week's episode of the Mortgage Minute, Frank Napolitano discusses how you have to take the extra step to ensure your bank lowers your mortgage rate before you close. It's very easy and common for individuals to not realize a drop in rates before their mortgage has to close, and because you've signed a mortgage commitment at your bank indicating the rate you've agreed upon, the bank won't look out for you and lower it when a drop occurs.
One of the benefits of working with a Mortgage Broker is that they are always looking out for what's best for you. Brokers obtain daily rate updates and will be able to request rate adjustments for you, should rates drop. Frank Napolitano also talks about whether or not you should consider putting your full mortgage balance on a home equity line of credit.
It is important to discuss all details of your mortgage with a professional. Contact one of our Mortgage Brokers for advice.