BY The Partsss

Is mortgage planning in Calgary something in which you should be interested? You've done some research and you know you can meet with a professional Mortgage Planner who will work with you to create a long term plan whereby your mortgage becomes part of a broader financial plan. Do you really need that? Why not go off on your own and use the wide variety of resources on the Internet to get the best rate on a mortgage in Calgary and be done with it?First, some Canadians are unaware the best rate does not guarantee the best deal. Some Internet mortgage sites offer "teaser" rates that explode at a point not too far into the life of the mortgage. Others include hidden fees and commissions that end up making that supposedly "best" rate less cost effective than a higher rate with no hidden fees and features. Mortgage planners can help you sort through the maze and get, not the best mortgage rate, but the best mortgage deal.But there is a far more compelling reason to consider mortgage planning in Calgary - advice on matching your mortgage to your needs. Let's use one example to illustrate the value of their advice - borrowing the maximum for which you are qualified.Buying a home is an emotional experience for most of us which often results in buying a dream home at the extreme limit of what we can currently afford. You've been told you qualify for a $200,000 loan and with $20,000 to put down you're looking for the most house you can get for the money.Right now you can afford the monthly mortgage payments, even though things will be a little tight. Walk into a traditional lending institution or take out a mortgage through an online lender and you are not likely to have someone talk to you about rising interest rates. They have a vested interest in getting you to sign on the dotted line, regardless of whether or not the mortgage is the best deal for your situation.Mortgage planners see you as long term clients; not "once and done" customers. They will talk to you about your future situation, especially when it comes to income. If you expect your income to remain relatively stable over the next 5 years a reputable mortgage planner will talk to you about rising interest rates. While no one can predict the future they are experts at market trends, which in today's world of low interest rates are likely to rise. If your mortgage renews in 5 years it is highly likely your monthly mortgage payment will increase and quite possibly by a significant amount.