The first step in calculating your mortgage payments is to gather all of the required information. You need to know what type of mortgage you are taking out, the interest rate, and how much you need to borrow. The financial institution will use this information to calculate your monthly payment.
The next step is to determine whether you want a fixed or variable-rate mortgage. There are benefits and drawbacks to each type so it’s important you understand them before making a decision. The third step is determining how much of your monthly income needs to go towards housing expenses, including your mortgage payment, utilities and taxes.
When considering the best option for you, it’s important that you consider all factors before making a final decision.
Shaunna McIntosh will assist you with all your needs when buying a house in Orleans, Kanata, Barrhaven or anywhere in the Ottawa area.
Looking for a new home in Orleans? Looking for a new house in Kanata? Shaunna McIntosh can help. Call today.