5.4.5 Summary of key messages

From: Financial Consumer Agency of Canada

  • Be prepared for extra costs when you buy a new home or renew a mortgage. Budget one to two percent of your purchase price for unexpected costs.
  • Consider what insurance, if any, you will need in addition to mortgage default insurance if it is required.
  • Ask questions so you can compare the answers from different lenders.

At the end of the module, you will find an Action plan. This is a tool that you can use to track your progress and take the next steps to manage your mortgage successfully in the future. Use the action plan as a roadmap for financial action!

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