The results of a new survey among Canadian homeowners reveals that finding a mortgage can be a time-consuming process for some. However, resources exist to make the process easier and more affordable in the long run.
The survey, commissioned by ING DIRECT, revealed that 67 percent of Canadian respondents who currently carry a mortgage said the process is complicated (31 percent), difficult to figure out (16 percent) or confusing (20 percent).
"Whether you're a first-time home buyer or shopping around for a new mortgage, applying for a mortgage doesn't have to be a confusing or complicated experience," said Peter Aceto, president and CEO at ING DIRECT. "Choosing a bank that provides a great rate up front and offers flexible terms means saving both time and money over the long run. We're committed to making the process of getting into your home easier and giving clients the option to pay off their mortgage faster."
Potential homebuyers who are concerned about the results of this survey and the fact that the mortgage process could be complicated or time-consuming should know that most lenders are willing to work with them to make the process as easy and stress-free as possible.