Reduce mortgage penalties

A few quick tips to reduce mortgage penalties. You bought your house a few years ago at an interest rate of 5%.  Now everywhere you look banks and credit unions are offering rates of 3% and below on fixed-rate mortgages. You’ve decided it’s time to get a better deal, but when you speak to your [...]

By |2017-01-04T01:02:19+00:00October 29th, 2013|Mortgage Tips|0 Comments

Paying Off Your Mortgage Faster

Ways to pay off your mortgage faster 1. Increase the amount of your payments One of the ways to pay off your mortgage faster is to increase the amount of your regular payments. Normally, once you increase your payments, you will not be allowed to lower your payments until the end of the term. Check [...]

By |2017-01-04T01:02:25+00:00June 14th, 2013|Mortgage Tips|0 Comments

Mortgage Pre-payment: Know your options

Overview Mortgage prepayment refers to paying more than the regular mortgage payments you have agreed to pay in your mortgage contract. Examples of prepayment: increasing the amount of your regular mortgage payments making lump-sum payments to reduce your mortgage balance paying off your mortgage in part or in full before your term is over. If [...]

By |2017-01-04T01:02:26+00:00June 13th, 2013|Mortgage Products, Mortgage Tips, Uncategorized|0 Comments