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MORTGAGES

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Do I have to renew with the same lender?

Renewing your mortgage No. If your term is up, you should call your broker and see if the renewal...

How can I pay off my mortgage faster?

Become mortgage free If you’re looking to payoff your principal faster, depending on your lender,...

What is a variable rate mortgage?

Variable rate mortgages A variable rate mortgage is when your interest rate increases or decrease...

How does construction financing work?

Construction Mortgages Construction financing can look a bit different at each bank, but the proc...

What is a reverse mortgage?

Retire with freedom A reverse mortgage is a mortgage that pays you! Pretty sweat, eh? Reverse mor...

What is a purchase plus improvements mortgage?

Buying and renovating If you find a home that requires a lot of work to be done (mostly cosmetic)...

What is mortgage insurance?

Mortgage Insurance Mortgage default insurance is a premium added onto mortgages if the buyer puts...

How early can I renew my mortgage?

Renewing my mortgage With most lenders you can renew your mortgage up to 120 days before your ren...

What is the difference between the amortization and the term?

Mortgage Amortization and term A mortgage amortization is spread over a longer period i.e.: 25 or...

What is a fixed rate mortgage?

Fixed Rate Mortgages A fixed rate mortgage is when you sign up for the same interest rate over th...

What does it mean to port your mortgage?

Porting your mortgage Porting you mortgage is when you take your current mortgage with you to a n...

What is a mortgage?

What really is a mortgage? A mortgage is a loan secured by a piece of property. A bank or lender ...

What is APR?

APR or the Annual Percentage Rate is the total cost of the mortgage spread over the amortization ...

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