There are many reasons why one would be looking to secure a discount mortgage in the GTA (Greater Toronto Area) like trying to free up money for:

• Renovations needed on house that was a great deal but needs some work.
• Renovations and upgrades as an investment for real estate flipping.
• Saving money and be cost effective in order to work towards future financial goals
• Furnishings and appliance upgrades for the home after purchase.

But what exactly IS a discount mortgage? Is there a coupon online somewhere that entitles the bearer to 5% off regular interest rates? Or maybe a there’s a savings code the buyer can present to the lender that says for every four years of regular mortgage payments one year is completely free?

Wouldn’t that be lovely?

Unfortunately, the reason these types of promotions involving mortgages are unheard of is that they do not really exist. The term ‘discount mortgage’ is just a gimmicky way that lenders will advertise their financial products. In actuality a discount mortgage in the GTA is, simply put, a mortgage with the best rates and terms possible available to a person based on their personal situation.

So how is it possible to get a discount mortgage…that is, finding a mortgage with the best rates?

The good news is that with planning this is completely possible. Further, when shopping mortgages it is also possible to earn cashback rewards as a lucrative bonus. The key is knowing how to shop smarter.

Planning ahead to get a discount mortgage in the GTA

For those that want to get the best rates for mortgages, planning ahead can be pretty simple. The first step recommend is to take a thorough assessment of the current financial situation and then take steps to improve it going forward. Incoming and outgoing funds, as well as a down payment savings plan can be controlled and managed by creating a budget and sticking to it.

• PRO TIP: Online budget tools can be found for free almost everywhere online – but the common factor is to ensure that they are created with specific goals in mind. Savings, retirement, paying off debt and the like are normal goals for most people.

The second step is improving credit score so that it is more attractive to lenders, and qualifies for the best rates.

• PRO TIP: Credit reports can be obtained free once per year by contacting one of the two main credit bureaus in Canada (TransUnion or Equifax).

Shopping Smarter for Discount mortgages in the GTA

Once a person feels they are ready to begin shopping for mortgages it will be well worth their time to consider enrolling in a membership program specifically designed to provide volume discounts and real cash reward dollars for purchases made and arranged through the site. Shop2Save, a maverick in the crowd-purchasing industry is a great choice:

• Membership is free.
• The loyalty program is member-centric because all discounts are based on volume discounts.
• In addition to regular purchases, Shop2Save also services it’s members with top professional companies in Canada for big-ticket items such as home and auto insurance, real estate transactions, and yes…even mortgages.

So, although you find a 30% off coupon for a mortgage, Shop2Save is the next best option. Visit Shop2Save today to discover how shopping smarter can get you a discount mortgage in the GTA that comes with real cashback rewards dollars.