(NC)—If you’re planning to move and you already have a mortgage, there are several things to consider before taking the plunge. A good place to start is by speaking to a mortgage expert at your bank who can help you make the experience as economical and comfortable as possible.

“The first step is to know what you can afford so that you can shop for your new home with confidence,” says Farhaneh Haque, Regional Sales Manager, Mobile Mortgage Specialists, TD Canada Trust. “There are many options available to repeat home buyers and a mortgage expert can help you choose the right one to help you save money so you can own your new home faster.”

2 tips for home owners looking to move:

• Take your mortgage with you when you move. Many banks will let you bring your mortgage with you. You can even increase your mortgage principal amount and blend your existing interest rate with the current market rate.
• Use your mortgage as a selling feature. If your mortgage interest rate is lower than current market rates, the purchaser may be able to take on your mortgage when you move.

TD Canada Trust offers more information on buying a home at www.tdcanadatrust.com.

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