Comparing mortgage offers beyond the posted rate

Rate, term, penalties and flexibility: what to compare before choosing mortgage financing.

Compare the full terms

The rate is one element among others. Also look at the type of rate, the term, the payment frequency and prepayment options.

Terms vary by lender and product. Ask for a written explanation of the terms that apply to you.

Ask about the fees for prepayment, porting or breaking the mortgage.

Flexibility can matter if you think you might move, refinance or change your payments.

An offer depends on your file, the property and final approval.

A mortgage professional or your financial institution can compare the options for your situation; this article is not personalized financial advice.