Marinated Mortgage Rate on Rye: A Case Study ??

Meet Stan, a piano teacher, who was struggling with cramped living conditions until he got an unexpected inheritance. ?? He and his partner found the perfect small red brick bungalow but didn't realize the nearby railway tracks might be a drawback.

Stan shared his excitement with his bank manager, who promptly got to work on the mortgage papers. ?? But when Stan mentioned it to Bruno, who worked at a credit union, everything changed. Bruno offered a rate that saved Stan over $200 a month, translating to thousands in savings over the life of the mortgage. ??

Pro Tips

1. Explore Different Lenders: Don't feel tied to your primary bank for your mortgage. Credit unions and smaller banks might offer better rates.

2. Compare Terms and Conditions: Look beyond the interest rate. Check for fees, penalties, prepayment options, and more.

3. Consider a HELOC: If you already have a mortgage, using a Home Equity Line of Credit can significantly lower your interest costs.