First-Time Home buyers Guide

GET IN TOUCH WITH US

GET IN TOUCH WITH US

We Educate Clients About Variable vs Fixed Mortgage Terms

Buying a new home is an exciting time, but it can also be a stressful one, especially when it comes to choosing the right mortgage. In such a case, you need a first-time home buying guide that can help make the process easier to understand. This is where Adil Rahman’s Mortgage Team comes in. We are a mortgage broker company that assists clients in getting the best mortgage rate. When it comes to first-time home buying, there are a few terminologies that you need to be aware of, such as fixed vs variable rates. A variable-rate mortgage is a type of home loan where the interest rate can change over time, meaning that your monthly payments can also increase or decrease. On the other hand, a fixed-rate mortgage has an interest rate that remains the same for the entire loan term. When you have knowledge about such terms, it is easy to make an informed decision about which type of mortgage is best for you. 


We help you understand variable vs fixed mortgage rates so that you can choose the one that suits your needs the most. When you need clarification on a variable vs fixed mortgage, having a reliable broker on your side is the most ideal situation. Our team will properly guide you through the process and make suggestions that are in your best interest. We're here to represent you, not the banks. As a responsible mortgage broker company, it is our job to educate you on everything about fixed vs variable rates so that you can make an informed decision.

First time home buyer Ottawa

We Provide Fixed Vs Variable Mortgage Options

When you know inside out about fixed vs variable mortgage products, it helps you make decisions that work in your best interest. As mortgage brokers, it is our job to keep you updated about the latest happenings in the mortgage industry so that you can make an informed decision. When buying a home or refinancing your mortgage, you would be offered two options: fixed-rate and variable rate mortgage.

  • Read more

    The main advantage of a fixed-rate mortgage is that it offers you stability and peace of mind, as you know exactly how much you need to repay each month. The main advantage of a variable rate mortgage is that it gives you the opportunity to save money if interest rates fall.


    So, which type of mortgage should you choose? It really depends on your personal circumstances and preferences. If you like the idea of stability and security, then a fixed-rate mortgage might be the best option for you. On the other hand, if you're comfortable with a bit of risk, and you're confident that you can handle higher monthly payments, then an adjustable-rate mortgage (ARM) might be a better choice. Contact our team to learn more about the terms of a fixed vs variable mortgage! We are happy to help you make the best choice for your circumstances when it comes to being a first-time home buyer!

Variable vs Fixed Mortgage

What is a Variable Mortgage and How to Get Better Deals

People often come to us with a question - what is a variable mortgage? A variable mortgage is a type of home loan in which the interest rate can change over time, which means that your monthly payments could fluctuate as well. Variable mortgages usually start with a low, introductory interest rate that is often lower than the standard variable rate, and it typically lasts between 1-5 years. After the introductory period ends, the interest rate will revert to the standard variable rate.

  • Read more

    The biggest advantage we can help you provide with a variable mortgage is the potential to save you money if interest rates fall. If rates go down, your monthly repayments will decrease, which can free up some extra cash that you can put towards other things, like paying off your mortgage faster or investing in your home. This type of mortgage is suitable for people who are comfortable with a bit of risk, and can afford higher monthly repayments if rates go up.


    If you're considering a variable mortgage, we can help you compare different products from a range of lenders to find the right option for you. We'll also help you understand how variable interest rates work along with what factors can influence them. This knowledge will help you learn how to manage your mortgage effectively as well as make the most of your payments. We don't leave our clients hanging with questions like what is a variable mortgage. We guide each and every client through the process, from start to finish, so that you can make an informed decision about which type of mortgage is right for you. 

Fixed vs variable mortgage rates

Compare Fixed vs Variable Mortgage Rates For Best Outcome

When you are buying a home for the first time or renewing your mortgage, one of the decisions you will have to make is choosing between fixed vs variable mortgage rates. We have seen that most people go for fixed mortgage rates as they feel comfortable with the stability it offers. However, there are certain things you should take into account before making this decision. We tell our clients the fixed vs variable mortgage rates so that they can get the most out of their mortgage. The first thing you need to know is that fixed mortgage rates are usually higher than variable mortgage rates.

  • Read more

    This is because when you choose a fixed rate, the lender is taking on more risk. If interest rates go up, you will still be paying the same amount each month due to the interest rate being fixed throughout the life of the loan. On the other hand, with a variable mortgage rate, your payments will go up or down depending on the interest rates at that time. 


    Another thing to consider when browsing fixed and variable mortgage rates is the term of the mortgage. If you are comfortable with a longer-term, then you may want to choose a fixed rate, but if you think you may want to sell your home or refinance in the next few years, then a variable rate may be a better option. To make a wise decision in either case, we will assess your financial situation to see what option best fits you. Our job is to get you the best mortgage rate so that you can save money and make the most of your investment!

Tell us what you're looking for and we'll find the right mortgage for you!

FILL UP APPLICATION HERE

Please select ‘Full Application’

Expert Assistance For Any First Time Home Buyer Ottawa Clients Swear By

The first-time home buying experience can be a bit overwhelming, but with our experts that assist any first time home buyer Ottawa clients trust, we can help you every step of the way. We understand that buying your first home is a big decision, and we want to make sure that you are comfortable and confident with your purchase. Our team of mortgage brokers has years of experience in the industry, and can help you find the best mortgage products and interest rates to suit your needs. We work with all of the major banks and lending institutions in Ottawa so we can get you the best possible deal. Our experts understand that everyone's situation is different, and we will take the time to listen to your story and help you find a mortgage solution that is right for you. We know that the home buying process can be stressful, so we will do everything we can to make it as smooth and stress-free as possible. Contact us today to get started!

Share by: