Busted! Don’t Believe These Mortgage Myths!

Misinformation about mortgages leads to individuals with a limited understanding of them becoming even more confused about how to apply for and obtain one. On the other hand, mortgage providers too have inhibitions about people who do not know the proper procedures and are slow in getting the paperwork done.

Often, these myths are propagated to take advantage of people in need, yet people fall prey to them every day. So for a smooth and fruitful financial collaboration, it’s advisable to work with professionals who know the ins and outs of the industry.

The expert at Victor Matos – Mortgage Agent – Insurance and Investments Advisor has debunked three of the most widely believed myths about mortgages.

Myth 1: Your bank is your friend and will always give you the best deal!
False! Banks are no friends of yours and will make as much money out of you as they can. Only a professional mortgage agent can get you the best deal and will also help you choose the best bank for you.

Myth 2: I can always get a better rate elsewhere!
Nothing comes without a cost, and if you can get a better rate elsewhere, you’ll almost certainly have to pay for it. It could be a greater prepayment penalty, a questionable lender, hidden costs, or a variety of other things.

Myth 3: A desperate mortgage agent will give me the best deal!
Again, this myth is false as an experienced mortgage broker has better knowledge and resources and will be focused on providing you with the best product rather than being desperate to make a sale.

If you’re looking to steer clear of these myths, reach out to Victor Matos – Mortgage Agent – Insurance and Investments Advisor, as the leading life insurance service in Hamilton, ON.

My services include home purchase mortgage, mortgage renewal, mortgage refinancing, home equity mortgage life insurance, critical illness insurance, disability insurance, RRSPs - registered retirement savings plans, health benefits, and more. I serve clients across Hamilton, Oakville, Burlington, Binbrook, Ancaster, Brantford, Caledonia, Grimsby, Stoney Creek, Cayuga, Dunnville, and St. Catharines, ON.

For a complete list of my services, please click here. If you have any questions about mortgages, I’d love to hear from you, please contact me here.