First Mortgage Advice

[John Delacruz]

Hi, 

I am planning to buy a home. As I don’t have enough savings for that, I have no option other than a mortgage finance. I don’t have any previous experience with mortgages. So, I asked my friends for their suggestions. Most of them asked me to depend on a fixed mortgage finance while others recommended for a variable mortgage. Now, I am totally confused about choosing one.

I searched online to get more details about the same and came to know about a Home mortgage in Toronto. But still, I am not able to take a decision as my credit rating is not too good . And I want to know more about the percentage of down payment also. If anyone has experience with mortgages, please help me to choose a secured mortgage. Thank you.