How to Find the Best Mortgage Deal in Canada?
Buying your first dream home can be scary and exciting at the same time. You will soon break free from the shackles of rent and start making regular mortgage payments on the land/property that you actually own. And to help you find the best mortgage deal for your future home, we've created a quick guide to everything you need to know about mortgages in Canada . You can also check out Breezeful for the best mortgage advice on the market. Understand the different mortgages In Canada, mortgages fall into three categories: secured, conventional, and unsecured. Each of these mortgages comes with a different rate and set of benefits, so it's important to know the difference between the three before applying. A secured mortgage requires you to pay mortgage default insurance to protect the entity that is lending you money. Since the lenders are insured, these mortgages tend to have lower interest rates, although you should be aware that you will pay for the insurance along with your mo