Further to the basic concept of not over leveraging yourself, many first home buyers or investors forget to keep in mind that interest rates will likely be higher in 5 years. Please keep this in mind when making your next real estate purchase. We have been blessed over the past few years as a Vancouver mortgage broker being able to offer such low rates. Everyone including you the client are winning with the low rates but we must remember that they will probably increase in the coming years. Be prepared for an increase of 3-5% on top of your existing rate. Yes your outstanding balance will lower but only slightly if you have chosen a 35 or 40 year amortization period. Check out my primary mortgage broker website at http://www.jessijohnson.ca and feel free to comment below. I love to hear your thoughts.

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