Smart Mortgage Strategies Yellowknife NT

Current economic conditions and the availability of more sophisticated mortgage products over the past several years have left many homeowners "scratching their heads" when it comes to taking out a mortgage.

BMO Bank of Montreal
(867) 873-6261
480 B Range Lake Road - P.O. Box 1799
Yellowknife, NT
Type
Branch with ABM

RBC - Yellowknife Branch
(867) 873-5961
1-4920 52Nd St
Yellowknife, NT
Languages
English, French
Office Hours
Monday: 09:00 - 16:00
Tuesday: 09:00 - 16:00
Wednesday: 09:00 - 16:00
Thursday: 09:00 - 16:00
Friday: 09:00 - 17:30
Saturday: Closed
Sunday: Closed

BMO Bank of Montreal
(867) 872-2001
82 Breynat St
Fort Smith, NT
Type
Branch with ABM

Scotiabank
(867) 669-6000
5102 50Th Avenue
Yellowknife, NT
 
Scotiabank
(867) 669-6000
5102 50Th Avenue
Yellowknife, NT
 
RBC - Hay River Branch
(867) 874-6547
77 Woodland Dr
Hay River, NT
Languages
English, French
Office Hours
Monday: 09:30 - 16:00
Tuesday: 09:30 - 16:00
Wednesday: 09:30 - 16:00
Thursday: 09:30 - 16:00
Friday: 09:30 - 17:00
Saturday: Closed
Sunday: Closed

RBC - Yellowknife Branch
(867) 873-5961
1-4920 52Nd St
Yellowknife, NT
Languages
English, French
Office Hours
Monday: 09:00 - 16:00
Tuesday: 09:00 - 16:00
Wednesday: 09:00 - 16:00
Thursday: 09:00 - 16:00
Friday: 09:00 - 17:30
Saturday: Closed
Sunday: Closed

BMO Bank of Montreal
(867) 873-6261
480 B Range Lake Road - P.O. Box 1799
Yellowknife, NT
Type
Branch with ABM

Smart Mortgage Strategies

Provided By:

(NC)-Current economic conditions and the availability of more sophisticated mortgage products over the past several years have left many homeowners "scratching their heads" when it comes to taking out a mortgage. Perhaps never before has it been more important for would-be and current homeowners to do their homework before securing a new or renegotiating a mortgage.

John Turner, director mortgage sales at BMO Bank of Montreal, recommends that mortgage shoppers develop a strategy using the following steps in order to ensure you obtain a mortgage that will best fulfill your current and future needs.

Step 1: Start with a clear understanding of your monthly cash flow by developing a list of your fixed expenses such as payments on an existing mortgage, car, credit card and unexpected home repairs.

Step 2: Consider your financing needs may change of over the next five years. For example, you may be planning to start or expand your family or you may be thinking about opening a new business - both of which will impact your income and expenses.

Step 3: Speak with your banker to develop a plan for paying off the mortgage in the fastest and most cost effective way possible.

First-time homebuyers should also consider getting a copy of the BMO First Home Essentials kit - a new guidebook with all the information, tools and resources needed to search for and purchase your first home. You can order one online at www.bmo.com/firsthome.

"Your home is the largest investment you'll ever make and while exciting, it can also be a stressful and confusing experience, even in the best of markets," says Turner. "The best advice is to work with a mortgage specialist, create a strategy and find the mortgage that's right for you."

- News Canada