Tips For Getting The Best Possible Mortgage Rates

For anyone living in Windsor, Ontario it is critical to know some tips that will help you get the best mortgage rates possible. These tips if you remember them and use them will definitely help you find the right deal for you and can even help you save some money on mortgage charges in Windsor Ontario.

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Here are the essential tips that you need to be aware of so that you can get the best rates possible easily.

Origination fee – Many people don't even realize this fee exists but you need to know about it because it can increase your APR. Many lenders will charge around 1% but if you do a little negotiating then you can often get this fee lowered.

If the fee is any higher than 1% then always try to negotiate it down and if they won't do this then move on to another lender because there are ones available that will and this will help you save money.

Rate lock-in – Always find out if the lender is prepared to lock in the rate that you agree on for at least 30 to 60 days. This will keep the rate the same in case the rates should increase.

Consider your agreement: If you don't have the clause included in the agreement then you need to fight for the lower interest rates. Call the lender and talk to them about the lower rate and the lock in the agreement because if you don't you will never know if they are willing to work with you.