Choosing a mortgage rate
The interest rate you pay on your mortgage will depend on a number of factors. Your mortgage rate isn’t the only thing to consider. You’ll also need to be aware of the various payment options, as well as mortgage terms and conditions that could become costly down the road. Learn how each of these following factors will affect your mortgage and mortgage rate by visiting the pages below.
- continue reading
Mortgage Term
A mortgage term is the length of time you are committed to a mortgage rate, lender and conditions set out by that lender...
- continue reading
Variable vs. Fixed
One of the first decisions homebuyers and mortgage shoppers face is whether to select a fixed rate or variable rate mortgage. With...
- continue reading
Terms and Conditions
After your Offer to Purchase has been accepted, and your home inspection has passed, you’ll need to get your mortgage financing in order. Once your...
- continue reading
Prepayment Options
Mortgage prepayment options outline the flexibility you have to increase your monthly mortgage payments or pay off your mortgage...
- continue reading
Porting and Assuming Your Mortgage
What happens if you buy a home, take on a 5-year term, and then after 3 years you have to sell your home? It happens more...
- continue reading
Skipping a Payment
There are going to be times throughout the life of your mortgage where you’ll wish you had a little extra...
- continue reading
Cash Back Mortgages
When you purchase a home, you might find that you need some extra cash. You might want to increase your down payment, renovate...
- continue reading
Collateral Mortgages
There are two ways a lender can register a mortgage loan, they can use a mortgage charge or a collateral charge. With a...
- continue reading
Prime Rate
The prime rate, also known as the prime lending rate, is the annual interest rate Canada’s major banks and financial institutions...