Syndicate Mortgages Expert Answers the Most Frequently Asked Questions for First Time Home Buyers

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As the Spring Buying Season Is Expected to Bring Plenty of New Home Buyers, Mortgage Expert Marcus Arkan Shares Useful Information That Will Be Crucial for Making a Better Buying Decision this Season

Marcus Arkan, CTO of Syndicate Mortgages, one of the leading mortgage brokerages in Toronto has recently shared valuable information regarding mortgage rates and home buying in Canada. According to Mr. Arkan, the spring season of 2013 has arrived with a positive start. However, he emphasized the fact that the housing market has gone through numerous changes during the past year and it is very important for the first time buyers to understand the market before making a purchase.

In an effort to educate first time buyers, Mr. Arkan has recently shared answers of some of the most frequently asked questions in this aspect. Commenting on the importance of educating first time buyers, Mr. Arkan said, “The spring season is the most awaited season in real estate market, largely because it attracts numerous new buyers. Last year, after the mortgage rule changes, many experts predicted a colder spring for 2013. On the contrary, the housing market is still stable and Canada mortgage rates are low. There are a few risks but an informed decision can help you reap long term benefits. ”

Mr. Arkan further added that it is the responsibility of mortgage brokers as well as realtors to help buyers understand everything that is related to their home buying decision. According to him, most of the first time buyers are completely unaware of the smallest details when they enter the market. That is the reason Mr. Arkan chooses to start with basic questions, such as the cost and basic requirements for obtaining mortgage under their name for the first time.

Focusing on aspects that can affect buyers long term, Mr. Arkan also shared the benefits of using a Registered Retirement Saving Plan. “New buyers often do not have any idea that a RRSP is not subjected to income tax if they are able to repay within fifteen years,” he added.

In the end, Mr. Arkan encouraged first time buyers to consult brokers rather than banks. Brokers, he said, have business relations with numerous banks and financial institutions. For this reason, they are able to scrap out deals those financial institutions often do not offer directly to their customers.

In the future, Mr. Arkan plans to discuss specific local markets and various Canada mortgage rates in order to help new comers grasp the basic concepts of the housing market. For more information, visit the website http://www.syndicatemortgages.com

About Syndicate Mortgages Inc.
Syndicate Mortgages Inc. is one of the leading Canadian mortgage brokerage firms. Founded in 2008 in Ontario, the company specializes in residential, commercial and construction financing across Canada. With years of experience and expertise in the mortgage industry, and access to an array of lending institutions across Canada, Syndicate is known for finding the best mortgage rates for their customers. Syndicate has branch locations across Canada. For contact, please use the following details.

Contact Details
Syndicate Mortgages Inc.
http://www.syndicatemortgages.com
Toll Free: (888) 646-1062
Email: info(at)smibroker(dot)com

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