Buying a house can get expensive. Want to save cash where you can?
Here's how to do it:
- Get multiple mortgage loan quotes. Because rates and terms vary greatly from lender to lender, getting several quotes could save you thousands, especially through an independent licensed mortgage professional.
- Shop around for other services, too. Compare quotes for appraisers, home inspectors, surveyors, and other vendors you'll need, and make sure you get the best deal.
- Improve your credit score first. The better your credit score is, the more favorable loan terms you'll get (and the more you'll save).
You can also save money by avoiding mortgage insurance, which is required on all CMHC loans.