Are you an owner or soon to be a home buyer in Granby? If you want to get lower mortgage rates and pay lower interest for your home, find out the best way to get a cheaper mortgage.

Did you know that after spending hours online looking for mortgage rates, you may not be looking at the lowest rates at all. You see, banks don’t offer the lowest rates directly to consumers. However, mortgage brokers get lower rates from financial institutions which they can pass on to you.

With best mortgage quotes, you can find the lowest mortgage rates and the best mortgage products easily and conveniently.  With just a few clicks, we can put you in touch with a reputable mortgage broker in Granby so you can compare over 20 financial institutions in 1 application.



Free Mortgage Broker Services for Finding the Lowest Mortgage Rates

Is there anything better than services free of charge that gives convenience and savings? Surely, you can take advantage of a mortgage expert’s services to find the best mortgage for you in Granby free of charge.

You will be saving money from your mortgage payments from lower interest rates. At the same time, you will benefit from valuable advice from an experienced and qualified mortgage broker.


How can a mortgage broker help you shop around for your mortgage?

 Shopping for a mortgage is more complicated than it seems. It’s not just about choosing the mortgage with the lowest interest rate. In fact, it is just as important to study the different types of mortgages to choose from and get one that corresponds to your needs.  Unfortunately, choosing from the many mortgage products offered by banks with varying conditions, penalties, and rates can make the entire process time-consuming and even confusing.

A mortgage broker will not give you just 1 lender’s mortgage products and rates. Rather, he will inform you of the various lenders and rates available to you and explain the pros and cons of the different types of mortgages.  This will help you arrive at the best decision about fixed rate or variable rate and collateral charge or conventional charge mortgages.

For first time home buyers, the many subtleties of mortgages may be difficult to fully comprehend.  A mortgage broker is an expert and will give you professional advice that can help you save money and avoid headaches.

Your mortgage broker in Granby can help you understand the various mortgage products in the market such as:

  • Conventional mortgage
  • Closed mortgage
  • Open mortgage
  • Subsidiary mortgage

Afterwards, your broker will analyze your profile and advise you on the best mortgage solution based on your needs.  Finally, and most importantly, he will take care of submitting your application to the best lenders and shop for the most advantageous mortgage rate that suits your needs.

Thanks to its exclusive access, your broker will be able to quickly compare rates and quotes from more than 20 banks in just one loan application.

In addition, all brokers hold OACIQ licenses and act according to well-defined laws. You will benefit from their reliable, professional, and free services.

If you know little about mortgages and need to find a mortgage for buying a home, teaming up with a broker in Granby will ensure you do not pay too much for your mortgage and that you have the most suitable one for your needs.


Mortgage Loan Insurance: When Is It Necessary?

When you buy a house, one of the first questions your lender will ask you is “Will you have the 20% down payment”?

Why is the amount of the down-payment important? When you take out a mortgage in Quebec, you normally need to have 20% of the sale price of the property available as a down-payment. The down payment is the amount of cash that you have available to pay toward your new home.

If you do not have 20% of the home purchase price for your down payment, you will have to purchase additional insurance called mortgage loan insurance, also called mortgage default insurance. It should not be confused with mortgage insurance, which protects your lender in the event of your death.

Save on Mortgage Loan Insurance

Mortgage default Insurance is an additional expense you must pay and is calculated as a percentage of the selling price. For example, with 5% down payment, you will have to pay an additional premium of around 4% of the sale price. It can make a big difference!

By law, home buyers with less than 20% are required to have mortgage default insurance as this protects lenders from mortgage default.  It keeps mortgage rates low and affordable for consumers.

Minimum Down-payment requirements in Quebec for Home Buyers

Find out how much you need for a down-payment for buying a home in Quebec.

Home Purchase Price Minimum Down-payment
$500,000 and below 5% of the home selling price
$501,000 to $999,999 5% for the first $500,000, 10% on amount in excess of $500,000 but below $1M
$1 Million and above 20% of the selling price

Borrowers with poor credit history can be required to have a larger down-payment by lenders.  The down-payment amount must come from the home buyer’s own funds or from your RRSP.

Is it better to buy a house with a 20% Down-Payment?

Now that you know the minimum down-payment requirements for a home purchase in Quebec, you might want to know if it is better to have a 20% down-payment. Why pay more if you can buy a home worth $300,000 with only 5% down-payment?

In Canada, home buyers with less than 20% down-payment have an additional expense called mortgage loan insurance.  You will be paying Canada Mortgage and Housing Corp. to provide insurance for your mortgage.  By having 20% for your down-payment, you can avoid this expense and save on insurance costs.

With a bigger down-payment, you also need to borrow less money for your mortgage and thus pay less interest in the long term.


Sometimes, a lower down-payment makes sense

But for many home buyers in Quebec, a 20% down-payment is not always easy to come by.  And as you try to save for the down-payment, home prices continue to rise.

There are situations when you should buy a house even with less than 20% down-payment. For instance, you may want to pay a lower down-payment and use your funds for other business opportunities. Another possible scenario is when you almost have the 20% down-payment and you see a good property to buy that you don’t want to pass up.


Benefit from Mortgage Expertise of Mortgage Brokers

There are many aspects to getting a mortgage that you may have questions about.  When you team up with a mortgage broker, you can benefit from his valuable advice regarding mortgage rates, mortgage products, down-payment questions, etc.

Your mortgage broker will help you to get the right type of mortgage and the best possible mortgage rate.  He will also guide you throughout the mortgage process so you have less to worry about.


Closed Mortgage VS. Open Mortgage: Which one to Choose?

When new homebuyers begin to shop for mortgages, the main question they get first is whether they want an open or closed mortgage. Most young people respond: “What’s the difference?

In fact, a closed mortgage is a type of loan that prevents you from making early repayments or repaying your mortgage in full before the end of the term. It is a stricter loan, but the interest rate is often very advantageous and lower than the open loan. This is the most popular type of mortgage in Quebec.

The open mortgage allows its holder to make early repayments and repay it in full, regardless of the time. You can be in the middle of a term and pay back $ 50,000 or even the entire mortgage without any penalty. This is usually the perfect mortgage for homeowners who are about to sell soon or who will have cash available in the near future.


Find your Mortgage Broker and Compare Rates of more than 20 banks in minutes!

Do you want to avoid paying too much and being taken advantage of by a lender? If you want to get the best mortgage rate in Quebec, you have to do business with a mortgage broker!

Our mortgage broker partners aim to help Granby buyers and homeowners find the perfect mortgage, for FREE.

What does it take to be able to take advantage of this offer? All you need to do is fill out the short online form on this page for a mortgage broker to contact you. He will analyze your profile and help you to compare rates of more than 20 banks in a single loan application!

Yes, it’s as simple as that! For your part, all you need to do is fill out a short, free, no-obligation form and your broker will do the rest.

Taking a few minutes of your time to fill out our form could allow you to get help from an expert to compare the rates of all banks to get THE BEST RATE!

Save thousands of dollars in just a few minutes. Our partner brokers are available in all sectors of Granby:

Mawcook Bromont
Domaine-Richard Waterloo
Terrasse-Bellevue Shefford
Montplaisant Saint-Cécile-de-Milton
Granby-Ouest Saint-Dominique
Saint-Alphonse Saint-Liboire
Saint-Paul-d’Abbotsford And more…..

No matter where you are, there is a great mortgage broker you can work with for finding the best mortgage in Granby. Use our free mortgage quotes to get started today.


How to Find the Best Mortgage in Granby

Are you going from website to website searching for a good mortgage from a bank?

There’s no need to waste time and energy. In fact, you might not even find the lowest rates because bank published rates are still high.

The best thing to do is to speak to a qualified and licensed mortgage broker in Granby. Mortgage brokers always have lower mortgage rates than what banks offer customers. This is because they generate a high volume of loans and get access to lower broker rates from lenders.

Take the easy way – fill-out our short online form and get the best mortgage quotes from more than 20 financial institutions in Quebec.


Fill out the form below and a mortgage broker from your area will rapidly contact you to help you find the best possible offer.

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