Consider A Shorter Term To Save With Your Mortgage
Consider A Shorter Term To Save With Your Mortgage Once you have answered the question whether to go with a fixed or variable rate, and if you have chosen to go with a fixed mortgage rate, do not automatically assume you should select a five (5) year term. Terms shorter than five (5) years can [...]
Mortgage Pre-Payment Privileges – How to really save on your mortgage
Pre-Payment Mortgage Privileges Mortgage pre-payment privileges is the term used to describe the options that are built into most, but not all mortgages. This feature allows you to “pre-pay” your mortgage in an amount over and above your regular monthly payment. BE CAREFUL when you see a discounted mortgage rate, these mortgages may have NO [...]
No Fee Mortgage Switch Or Transfer
Mortgage Switch or Mortgage Transfer A mortgage “switch” or “transfer” is when you move your mortgage from one financial institution to another at the end of your term. A mortgage switch or transfer can be set up and arranged well in advance so that it proceeds smoothly while also providing several benefits. Contact me to [...]
Have a Variable Rate Mortgage? Should You Be Following Fixed Rates?
Have a Variable Rate Mortgage? Should You Be Following Fixed Rates? People who choose a variable rate mortgage should be comfortable with some amount of fluctuation in their payment over time as banks will adjust their prime rate from time to time.Variable rate mortgages have been identified as offering costs savings over five-year fixed mortgages [...]
Mortgage penalties. That's what's important, forget about the rate.
Mortgage penalties. That’s what’s important, forget about the rate. Well, not totally as the title of this post suggests, however, potential penalty costs are something that is far too often under addressed at the time of arranging a mortgage, only for it to become a major issue down the road. When arranging a mortgage one [...]