Desjardins Mortgage Rates is a trusted authority when it comes to finding the most competitive interest rates available. They have been in the mortgage business for over thirty years and are continuously updating their database to find the best rates. They base their quotes on the same three factors that most other companies base theirs on, namely credit score, income, and down payment. When comparing Desjardins Mortgage Rates to other lenders you can be sure that you will get an accurate answer with every quote you receive:

o The posted rate. This is the interest rate that is printed on your yearly mortgage contract. The lender will post this at the end of the year for all to see. This is the most competitive rate that you will receive from a Desjards Mortgage Rate Company and it is the standard across the industry.

o The prime rate. The prime rate is typically higher than the posted rate. When you go to compare Desjards mortgage rates, the prime rate is typically what you will receive when negotiating your deal. This is because when interest rates fall, so does the prime rate.

o The fixed mortgage rates. Fixed mortgage rates are usually only set at the start of the desjardins mortgage rates. This rate is usually much higher than the national average. This is due to the fact that the bank locks in the interest rate at the start of the term. There are no sudden changes made when changing the national interest rate, which makes fixed mortgage rates one of the more preferred options for borrowers.

o The three-year fixed rate mortgage break penalty. A mortgage break penalty is a fee that is charged on mortgages that do not finish in full. The reason behind a mortgage break penalty is that the borrower is subject to paying the same interest rate for a minimum of three years. If a mortgage does not fully complete in its entirety in the specified three years, then the borrower is subject to paying the interest rate of the final year. This is why many borrowers avoid this option, knowing that it will cost them money if the mortgage does not pay off in full.

These three mortgages are just some of the many different types of mortgage loans available to home buyers. There are also several different options that home buyers can choose from to get the best possible rate for their home equity loans. These mortgages will help home buyers budget for their new mortgage, allowing them to find the right loan that is right for their individual situation. Home buyers can learn more about getting the best possible home loan by registering for a free mortgage guidebook.