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621 Main Street, Humboldt, SK, 306.682.5535

BANKING SERVICES 

Mortage Calculator 

Banking in Humboldt 

Top 5 Things To Consider In A Mortgage 

Humboldt has many financial institutions and mortgage brokers to choose from. Take your time and choose the bank, credit union or broker that best suits your needs. These are but a few options for your review.

Not sure how much you can afford?

Check out our handy mortgage calculator tool.

1. Share & Shop

Provide mortgage advisors, brokers or financial institutions with your financial picture in great detail. They will be able to help you look at your own financial circumstances and tailor you with a suitable product.  When choosing a mortgage, you should always look at the percentage fees attached to the product. You should always negotiate your rate...or at very least get a list of rates available. A small percentage can save you big bucks in the long-term.

 

2. Tie-ins

Many mortgage deals will tie you in for an agreed amount of time, which means that if you exit the deal early you will be hit with a redemption penalty. Make sure you are aware of how long you are tied in for, and think about how your circumstances may change over the period. Early redemption penalties can be very high, and you don't want to incur any more charges than you have to.

 

3. Flexibility

Depending on your circumstances, you may suit a mortgage that allows you to overpay, underpay or take payment holidays. You can then fit your mortgage payments to suit your needs.

 

4. Incentives

Some mortgage products will include incentives such as a free valuation, free legal fees, a cash rebate or free insurance for a set time. However, it's important that these freebies do not fool you, as they are often worked into the total cost of your deal. Calculate how much these incentives will affect the overall costs because what you see is not often what you get.

 

5. Affordability

It's crucial that you work out how much you want to borrow, and how much you can physically afford. Remember that you will have to pay taxes, perhaps condo fees, lawyer fees...not to mention your monthly expenses when the dust clears. It hard to enjoy a new home when you don't have any money left to order pizza.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CONEXUS CREDIT UNION

716 Main Street

Humboldt, SK S0K 2A0

306.682.2696