Close to one third of the Canadian residents are just few clicks away from getting home mortgage. This is true as per a survey conducted by Canada Mortgage and Housing Corporation. The authority claims that more and more people are now conducting mortgage related research and analysis on the internet. Web has become an indispensable resource for borrowers and lenders alike.
Google Mortgage Queries and Find the Best Deals
Mortgage queries are one of the most searched after words in the search engines. Canadian mortgage sector is the fastest growing among the world. Search terms like first-time homebuyers and mortgage rates are constantly searched by people. Online tools such as mortgage calculators are helping homeowners plan and schedule their mortgage better. Websites are now offering online applications for quick disposal of cases. CMHC survey also shows that social media is also becoming increasingly popular platform to search for suitable mortgages.
SmartPhones and Social Media – Mortgage Platforms
People are tuning into Twitter, Facebook and YouTube to reach out to potential lenders. Young Canadian residents are now turning to social media to know more about their first mortgage. These platforms have real users to connect with and provide an in-depth perspective from a real mortgage borrower. Companies have also realised the worth of social media. Major Canadian lenders and mortgage brokers have dedicated presence on these platforms.Smart phones have also revolutionized the way mortgage industry works. CMHC survey also lists out that more young people use their phones to keep track of the mortgage industry. From live interest rates to daily mortgage rules, users can access a lot of data in an instant.
Professional Mortgage Brokers plus Internet: Perfect Approach
Despite the rising trend of using internet for mortgage research, it is advised that borrowers consult real brokers as well. Combine the two aspects of the mortgage application and you will most likely deal a winning hand. These professionals have years of experience in Canadian mortgage industry. They are abreast of the recent real estate changes. Moreover, most of the reputed mortgage brokers Canada are already active on the internet.
Online Mortgage Calculator
If you are a young potential homeowner and currently looking for a good deal, online mortgage calculators are a great way to begin. These online tools are regularly updated with live interest rates. So, you just enter the details and you will be presented with yearly or monthly mortgage payments, amortization length and down payment. The online mortgage calculator does the entire math for users. Professional mortgage brokers Brampton also use these calculators. Even the CMHC official website provides three calculators on its website. These CMHC mortgage calculators are:
• Household Budget Calculator
• Mortgage Payment Calculator
• Mortgage Affordability Calculator
Users can calculate a variety of different financial parameters using these calculators. Some of them include property tax, legal costs, interest premiums, moving costs, utility bills, repair costs, auto insurance etc. Make use of these online tools to make the most of your mortgage research. Canadian mortgage brokers are easy to reach on the internet. Happy mortgage hunting!