The perfect mortgage: a click away

(NC) The Internet is a great resource for researching mortgages. With so much information available 24/7, consumers today are able to educate themselves before they even speak with a potential lender.

A good place to start is on a Web site that can give you a general overview of the process and terminology. Sites such as the Canadian Mortgage and Housing Corporation (www.cmhc.ca) provide mortgage hunters with a wealth of information on everything from determining housing requirements to calculating overall costs.

After you've learned about the mortgage process, it's time to start comparing what different lenders have to offer. Visit the Web sites of various financial institutions to get a feel for the different products and options that are offered. Most of the major lenders provide detailed information on their rates and terms. For example, on the President's Choice Financial services Web site at www.pcfinancial.ca, you can compare mortgages, learn about additional costs associated with owning a home and calculate different payment options. You can even find out how to attend free mortgage seminars in your area.

Once you've visited the sites of major lenders, it's time to look at all the options and narrow down your choices. Some lenders may even offer a bonus points loyalty program. Consider what options are important to you before you decide to meet with someone in person or apply online. It's also handy to create a paper file with all of the information from the Internet categorized by lender, by rates, or by options.

Buying a home is a big step, and the Internet makes it possible to be a truly educated mortgage consumer! For more information, visit www.pcfinancial.ca.