With the last days of summer drawing near, you are probably on the lookout for a new project. You are wondering what you could do or work on and suddenly it comes to you: your home. Whether you plan to buy, sell or renovate your home, National Bank has a range of financing products to help you out.
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If you are looking for peace of mind, you may want to consider a fixed-rate mortgage with set monthly payments for the entire term of the loan. Not sure what is best for you? Try a madeto-measure mortgage, where part of your loan is financed at a fixed rate and part at a variable rate.[……]
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The purchase of a first house involves reflection and planning. By following the proposed stages, you will put all the chances on your side to make your project a success. More details for these steps are available by clicking the following links, or go to National Bank’s website www.nbc.ca
1. Calculate your borrowing capacity
Estimate how much National Bank could give you to buy your property.
Your National Bank advisor can help you calculate your borrowing capacity by reviewing your financial situation. You can also have an idea of your borrowing capacity by using our calculation tool.[……]
Given the record debt of Canadian households, BMO Bank of Montreal suggests that owners opt for a mortgage loan with a 25-year amortization period.
“The shorter your mortgage, the less interest charges you’ll pay in the end. By choosing a 25-year amortization period, you free yourself from your mortgage quicker, and you can start to save more for your long-term objectives, such as financing your retirement,” the financial institution explains.[……]
If 29% of Quebecers who are on the verge of selling their home or who have already sold it to a new owner didn’t know the various mortgage loan options available in 2010, the percentage decreased to 6% in 2011. This means that Quebecers are now better able to make enlightened choices in terms of mortgage investment.
These findings were published in the last TD Canada Trust report on experienced home buyers.[……]