Читать книгу Complete Home Buyer's Guide For Canada - Geraldine Santiago - Страница 29

Many institutions and individuals lend money for mortgages. These institutions include insurance companies, banks, trust companies, credit unions, finance companies, and pension funds. Mortgage brokers don’t usually lend money, but they can find a lender for you. There are more than 2 500 of them in Canada, primarily in British Columbia, Alberta, Ontario, and Quebec.

New house and new condominium builders may also offer lower-than-current market rates by “buying down” the interest rate charged by the lenders so that they can sell their homes faster. A buy-down is usually for a short term and is usually not renewable at the end of the term.