Mortgages And Home Insurance
June 26, 2015
Most people will take out home insurance for their home.
It makes a lot of sense.
For a small payment each month, of around $10-100, you can sleep at night knowing that you’re covered if anything bad happens to your home and you won’t be stuck with tens of thousands of dollars in costs.
Or worst case, even lose your home.
The strange thing is that when it comes to mortgages, people do the exact opposite!
People are so obsessed with the mortgage rate that they’ll sign up for a product just to save $10-50 a month, ignoring the fact that this mortgage product could leave them stuck with tens of thousands of dollars of hidden costs. Or that it might cost them their home.
We see it time and time again, people just can’t resist those low rates – quote someone a 1% rate and they won’t even stop to think what is buried in this offer – they will sign their life away!
A GOOD MORTGAGE IS LIKE HOME INSURANCE
What if I described a product to you that you pay a small amount of money for and in exchange for this:
• You are making sure that you don’t get stuck with tens of thousands of hidden costs.
• You don’t need to worry about something happening to you or your family and it costing you your home
• You have flexibility in life, so you don’t need to worry about getting stuck with huge costs that will cripple you
You might think I was talking about home insurance. But actually I’m talking about a good mortgage product.
So before you sign that mortgage deal you are being offered consider the following:
• What hidden costs are buried in this?
• Could I pay a little more to reduce the amount I am risking to get this deal?
• Is it worth 0.1% more in the rate, or $10 a month, so I’m not risking tens of thousands of dollars?
In essence, you need to look beyond the mortgage rate and consider all the other features and hidden aspects of that mortgage deal.
At GTA Mortgage Pros, this is what we specialize in. Our quotes show you ALL the mortgage features not just the rate.
See for yourself – you can get these quotes in as quick as 90 seconds at: