Sorry for the newbie questions ...
Im about to engage into mortgage shopping, as Im approaching 120 days prior to my renewal (March 2013). This date is when I will hit the 5 year mark on my 7-year fixed term, and penalty will be 3 months interest (about $3500 rather than large IRD).
When I start to look around, does you recommend I deal with two brokers, and two banks, while letting them know Im shopping around for best rate+conditions? By doing this, will my good credit score be impacted?
The reason Im thinking about doing this is that my current employer is one of the banks I will consider, and offers a small rate rebate to staff. The other bank is where I have my mortgage + HELOC currently.
The banks Im considering are National Bank, CIBC.
The brokers are Multi-Pret Mortgages, and Dominion Lending Center.
Im based in Quebec.
Thanks for your comments!
(This is the article that got me thinking about this scenario ...) http://www.canadianmortgagetrends.co...verpaying.html