Are You Prepared For Higher Mortgage Rates?

 

 

Luckily you probably won't have to worry about that until 2013, which is fast approaching.

Have you got a plan ready for action?

The questions you could be asking yourself is:

 

How high can my mortgage payments become before it is a problem ?

How high can interest rates raise before I cannot afford my mortgage?

Should I get a mortgage now and lock in for 5 years before the rates raise?

When I renew my mortgage after the rates have been raised will I be okay with my new mortgage payments?

If housing prices fall and rates raise will I have enough equity in my home to renew with the different scenarios?

 

There are many different ways to plan for this uncertainty, which will create a great outcome.  You can not control the interest rates or the housing market.

But, you can control your personal debt, your personal expenses and to some degree your wage.

Do you need to get those credit cards paid off?

Do you need to stop eating out so often and saving money that way?

Do you need to look for a better paying job?

 

OR

Look into  getting locked in for a low 5 or 10 year term now?

That way you will have at least another 5 years of low mortgage payments that fits with your budget and lifestyle now.

 

Change is coming.

How will you deal with it?

 

Not very many people find household finances a lot of fun.

If you would like to go through the different scenarios, I am here to help and go through those scenarios with you.

You know what you are most comfortable with and I know how to get you those answers.

 

Plan For The Future

With a solid plan put into place now, this will save you lots of stress, time and money in the future.

 

This is a free service, no obligation. 

Call me and lets get the planning done now.

 

Angela Kroemer, AMP

Mortgage Professional

TMG The Mortgage Group Canada Inc.

TMG Sharie Marie Mortgage Team

Local: 1.250.650.4182

TFP: 1.888.679.0190

Fax: 1.888.679.0192

akroemer@mortgagegroup.com

www.KROEMERmortgages.com