A mortgage is a loan to help you finance your home. You will most likely choose your mortgage based on three key things:
Interest rate - a lower rate is always better.
Term - this is the length of time you'll have your mortgage.
Fees
With so many types of mortgages - and so many places to get your mortgage - your best approach is to shop around to compare mortgage rates, terms and features. You can do this easily on the Internet or by looking in your local newspaper.
You might also consider using the services of a mortgage broker - someone who will assist you in finding a lender. Be sure to obtain a written statement from your broker that identifies the fees for the broker's services.
These fees may be paid by you, or by both you and the lender.
