Let’s break it down, shall we?

• First of all, Guelph is a city in Canada, in the Southwestern part of Ontario. Close to Kitchener, Guelph enjoys a population of 120,000 people and is set in a beautiful landscape which makes it perfect for real estate investments. Whether buying your first home, or looking to purchase real estate to flip Guelph is rich in history and picturesque scenery.
• For those that are unfamiliar with what a mortgage is, to put it simply it is a financial product that is used to cover the majority of the purchase price of a house. It’s a common type of loan as most people don’t typically have the funds to pay the entire cost up front. It is however, until a loan because the home is used as an asset to secure the loan, and it is common for mortgages and the terms of it to be broken or negotiated.

That brings us to discount:

• Now, the Merriam-Webster Online Dictionary defines ‘discount’ as a reduction in the price or value of something’ and ‘ a deduction from a debt’.

Unfortunately when you add the sum of the parts back together they don’t all make sense. This is because an actual discount, as defined on a product like a mortgaged doesn’t actually exist.

‘Discount’ is a gimmick word used out of context in an obvious way by mortgage lenders to coax potential customers in. There is no automatic reduction in price based on a limited time promotion, and there has never been a deduction of costs from a mortgage simply because you were able to find a broker willing to hold a Black Friday sale.

The true definition of a discount mortgage in Guelph is where a person is able to secure the best possible rate for them, based on their financial health.

The only way to make this happen is to ensure you have your financial situation in order, be knowledgeable about the various types of mortgages available and then to shop around to get the option for your circumstances:

• Getting your financial situation in order can be simple if you already have an established budget and if your credit is solid. The reality is, this is not the case for most people. Budgets are an extremely handy tool for both managing your finances and mapping out your future goals. Establishing a solid credit history can be a bit more challenging because this may require time, especially if your credit score falls below 600.
• Educating yourself on the various types of mortgages available will not only help you to get a discount mortgage in Guelph, it will also help understand the best type of mortgage that will work with your future goals. For instance whether you plan to live in the home until the mortgage is paid in full, or you plan to fix the house up and sell it for profit within a few years, choosing the wrong type of mortgage could end up costing you thousands of dollars.
• Shopping around to get the best option for your circumstances can actually be the easiest part of getting a discount mortgage. And, if you find the right platform you may even be able to earn cashback! Members of Shop2Save have discovered the convenience of arranging mortgages through Dominion Lending Centres. As the leading mortgage company in Canada they were able to find the best possible rates AND they earned real rewards cashback dollars for doing it.

Visit Shop2Save today to see how membership can benefit you in your journey towards a discount mortgage in Guelph.