Mortgage

[ddasilva99]

Hello,

Could you please recommend a good broker/bank for the best mortgage rate?

Thank you,
D

[ehmcee]

ING has very good rates

[gerbil]

ING has very good rates

it's not the rate that consumers should be concern about.
it's when the mortgage will be payed in full.

[j27lee]

it's not the rate that consumers should be concern about.
it's when the mortgage will be payed in full.

what do you mean?

[ynot]

it's not the rate that consumers should be concern about.
it's when the mortgage will be payed in full.

The rate does matter, the higher the interest rate the more you'll pay in interest. Amortization length is also important.

OP, ING does have pretty good rates, I have my mortgage with them. If you're looking for a broker, I can't help you but can only recommend the yellow pages.

[gerbil]

what do you mean?

well, first of all, most mortgages are standard 25 years give or take.
People should put more money towards the principle of the Mortgage, so it can be payed out sooner and quicker.

Imagine this .. 40 - 48 years old and your mortgage had been paid off.

[ynot]

well, first of all, most mortgages are standard 25 years give or take.
People should put more money towards the principle of the Mortgage, so it can be payed out sooner and quicker.

Imagine this .. 40 - 48 years old and your mortgage had been paid off.

And if your interest rate is 5% as opposed to 10%, you could have the same payment if amortized over 12.5 years as opposed to 25 years.

$200000 @ 5% over 12.5 years = 1790.63/month
$200000 @ 10% over 25 years = 1788.97/month

[ehmcee]

Most mortgages allow prepayment to some extent. ING allows an increase in payments by 25% once / year and lump sum payment of 25% once per year. Probably the most fexible prepayment you will find, combined with the lowest rates. I've been with them for 3.5 years now and have had no problems.