The decision to choose a fixed or variable rate is not always an easy one. It should depend on your tolerance for risk as well as your ability to withstand increases in mortgage payments. You can sometimes expect a financial reward for going with the variable rate, although the precise magnitude will ebb and flow […]

The advantages for home buyers to obtain a mortgage pre-approval. Obtaining a Pre-approval A mortgage pre-approval from a mortgage lender says you are approved for a mortgage before you have selected a specific property. You simply fill out a mortgage application and provide the lender with income documentation and consent to pull your credit report […]

Mortgage brokers keep up-to-date with the latest product offerings from lenders and have intimate knowledge of various features and options. Here are six key reasons for using mortgage brokers. 1. Choice: If you go directly to your bank, you will only be offered products from that financial institution. Mortgage brokers have relationships with several different […]

Mortgages in Canada are typically amortized over 25 to 35 years. While this seems a long time, it does not have to take anyone that long to pay off their mortgage if they choose to do so in a shorter period of time. With a little bit of planning, and some sacrifice, most people can […]

1. Make a double mortgage payment whenever you can. Doing this once a year can help pay off the mortgage 4 years sooner! If your payment is $2,000 a month, four years of no payments is $96,000!! 2. Increase the frequency of payment. Going from monthly to accelerated bi-weekly can reduce your mortgage by over […]