Mortgage Mistakes to Avoid

In my real esate career I have found these are the most common mistakes buyers make.

1. Not fixing your credit record. Mistakes do occur - get them fixed!

2. Don't miss out on home buyer programs, especially if you have RRSP's as you can use up to $25 000 of them.

3. Get pre-approved for a mortgage. This gives you a real advantage on the offer.

4. Don't borrow more than you need. Remember interest is compounded and you could end up paying thousands of dollars more than is necessary.

5. Shop around for the mortgage - Get a mortgage broker to help you.

6. Plan for the closing costs such as Property Taxes, Land Transfer Tax,Legal fees etc