When you are planning to purchase a home in Canada, it is really important to make sure that you are attaining the right mortgage financing solution from a reliable source since the amount involved in a real estate is usually big.
Generally, it is a better idea to buy a home rather than to rent one if you are obtaining the property for an investment purpose especially in Ontario, Canada as there are no capital gain taxes on its real estates, unlike in the US.
You will not often get the best deal when acquiring a mortgage directly from the bank but that would be possible if you can work with a mortgage broker that has access to bank mortgages. These brokers can often help you get a better mortgage deal from the bank or lenders than if you approach them on your own.
Most qualified mortgage brokers in Ontario have connections to a variety of financing sources such as financial companies, trust companies and private lenders around Canada in addition to local banks so you can have more loaning options to choose from.
Study, analyze and compare the latest mortgage rates of different lenders around Canada to find out which of them offers the lowest interest rates and better deals. I would recommend that you ask your mortgage agent for expert advice whenever possible to learn more about the procedures and to help you in making better decisions.
If you are new to the Canadian real estate market, you might have a tough time qualifying for a mortgage with a bank so it's a good thing to seek assistance from a local mortgage professional. Mortgage professionals know how to negotiate with the lenders in order to help you get the best mortgage quotes possible before you start purchasing a property.