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Edmonton Best Mortgage Interest Rate Tips

Two things you must do to find the best mortgage rate in Edmonton:

1 - Educate yourself about mortgages.

2 - Shop around for the most competitive rate in Edmonton.

To educate yourself about mortgage options in Edmonton compare mortgage products Online. Obtain information from several lenders in Edmonton.

Shopping for best mortgage interest rate in Edmonton is easier once you have educated yourself about your needs and mortgage products that can work for you. The usual place to start is with your current bank in Edmonton. Be sure to get any interest rate offers in writing. Keep in mind that when dealing with a bank in Edmonton, you only deal with one lender in Edmonton.

The services of a Edmonton mortgage broker will help you find the best mortgage rate. A knowledgeable Edmonton mortgage broker will usually get you a better mortgage rate in Edmonton than you could on your own. Remember that a mortgage broker is not limited to dealing with one or two lenders. Edmonton mortgage brokers can deal directly with almost all the lenders in the lending industry to find you the best available mortgage in Edmonton.

Mortgage Brokers in Edmonton usually don't charge any fee for residential mortgages. Make sure you not only get the good interest rate but also get your mortgage on great terms. Get a rate hold (lock your rate) for 90 days if you are shopping for a home. Ask about pre-payment penalities. Learn about variable rate and fixed rate mortgage options. Try to save appraisal fees.

Besides the Banks in Edmonton (Royal Bank, Td Bank, Bank of Montreal, CIBC, Scotiabank or Bank of Nova Scotia) there are several other lenders in Edmonton like ING Direct, PC Financial, MCAP, Maple Trust, Citizens Bank, HSBC, etc. Your Edmonton mortgage broker may deal with many many more lenders.

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