Mortgages
Managing your mortgage
JILLIANE MIRANDA, MANAGER OF THE CONSUMER LENDING DEPARTMENT, LAGIMODIERE BRANCH OF STEINBACH CREDIT UNION
BY WENDY KING
A
If you’re in the market for a new home, you might be suffering from a fear of commitment. Rates are high. The economy feels unreliable; it’s already got a question- able past and an unpre- dictable future. You have questions — and plenty of them.
help you discover the options that can work for you and your finan- cial circumstances. “Keep in mind that you’re ‘marrying the house and dating the rate’ for your current term,” she says. “Your current rate is for the time being and only for the length of your term. When it’s time to renew, the economic state might be different. We could be at a declining rate, at the same rate or we could be at a rising rate, so really consider your options.”
little “pre-mortgage counselling” is defi- nitely in order.
Jilliane Miranda, manager of the consumer lending department at the Lagimodiere branch of Steinbach Credit Union, says ques- tions are a good way to help you understand your options and build a relationship with your lender. After all, it’s a long-term relation- ship — with your lender and your mortgage. You don’t need to fear the rate, Miranda points out, since lending specialists are there to
20 PARADE of HOMES SPRING 2024
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