Owning a home is one of the best achievements that you can ever have in your lifetime. Not only does it allow to live without having to worry about rent every month, but it is also an investment that can only rise in value with time. Getting a good mortgage rate is the key to owning a good home stress-free. However, there are very few places where you can get favorable rates. The following are tips for getting the best home mortgage rates and a mortgage loan calculator Canada.


While a realtor can do a good job in getting the best home mortgage, don't blindly accept their suggestions. Always carry out your own research to determine the lowest rates that do exist in the market at present before you accept the offer your realtor is bringing you. Remember that you will pay for the home for the next 20 or 30 years on your own, hence make a choice that favors you.


You should call for mortgage rates at around 11:am Eastern Time to make sure that you are getting rates within the same day. Any time before that and you will get a mixture of today's rates and the previous' day rates. Mortgage rates do change daily hence do your rate shopping at the safest time to have accurate rates to work with.


When you call a lender, always ask for total points and total fees. Some lenders will only quote the discount points and deliberately leave out the loan origination fee. You will only realize the 1.00 Point Loan Origination fee after you have already applied for the loan and by then it will be too late. Also ask the lender if there is a charge for the origination fee since some of them do not impose charges.


Your search will definitely take over a day and while at it, make sure to compile a list of the best brokers for your task. When you have 5 brokers to consider, have a look at the latest rates and lock the most favorable rate. If there is a slight change, you can ask the lender to go back to the previous quote. If he doesn't, then just go to the next lender. You should only settle for a good lender with the lowest rates. Check out mortgage broker vs bank lender at this link for more info.


If you don't understand anything during the mortgage acquisition process, make sure to ask the lender. In case there is a change to be made to the points or the fees and premiums, ensure that the lender verbally agrees to make the changes. You shouldn't haggle over discrepancies, especially at the day of loan closing.

​

Visit http://www.ehow.com/how_4913261_manually-calculate-mortgage.html for more info.