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I want to know about mortgages. I am self-employed, run a restaurant in Toronto. I have lived with my parents for all these days and now I am planning to buy a home. I wish it would be great if we have something which we acquired through our hard work. But, to buy a home is not that much easy. So, I am on a plan to take a mortgage.
And I want to know more about the companies offering mortgages to home buyers. I came to read about different schemes like open-end mortgage and closed-end mortgage. If I take an open-end mortgage, then I could borrow more money later. So, I think it would be a better option.
But, I need more details. So, please suggest me the one which you think to be better. And if you know the rate difference between the two, please let me know it as soon as possible. I have searched to get some information about this, but, couldn't find the data.
Instead, I came across the Northwood mortgage reviews which seem to be good enough. As I haven't heard about them before, I need your advice. Hope someone could help me.
Thanks in advance!