| | High ratio mortgage.
Question: What is a high ratio mortgage?
Answer: A mortgage for more than 75% of the property value. Whenever... |
| | Weekly vs monthly payments.
Question: How much better off am I with weekly vs. monthly payments?
Answer: Despite popular belief, and a lot of vendor marketing, the a... |
| | Pre-approved mortgage.
Question: What is the advantage of a pre-approved mortgage?
Answer: The purpose of a pre-approval is to confirm in writing the m... |
| | Second mortgage.
Question: What is a second mortgage?
Answer: A second mortgage is simply an additional mortgage resgister... |
| | Co-signer vs Guarantor.
Question: What is the difference between Co-signer and a Guarantor?
Answer: A Co-signer is placed on the mortgage and is registered on t... |
| | Is the lender obligated to renew my mortage?
Question: At the end of the term of my mortgage is the lender obligate...
Answer: No. The lender is not under any obligation to renew your mor... |
| | Renewal fee.
Question: Does a lender charge a renewal fee?
Answer: Often a lender will attempt to charge a renewal fee or tempt... |
| | Open mortgage.
Question: What is an open mortgage?
Answer: An open mortgage gives you the most flexibility in making ex... |
| | Closed mortgage.
Question: What is a closed mortgage?
Answer: Compared to open a closed mortgage offers little to no privi... |
| | Breaking your mortgage.
Question: Is there ever a good time to break my closed mortgage and pa...
Answer: Yes! A good rule of thumb is whenever making a change will r... |
| | Penalties for switching you mortgage.
Question: Are there always penalties when I switch my mortgage to anot...
Answer: No. If you switch from one lender to another at your renewal... |
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