FAQ | Butler Mortgage
Frequently Asked Questions
High ratio mortgage.
What is a high ratio mortgage?
Weekly vs monthly payments.
How much better off am I with weekly vs. monthly payments?
What is the advantage of a pre-approved mortgage?
What is a second mortgage?
Co-signer vs Guarantor.
What is the difference between Co-signer and a Guarantor?
Is the lender obligated to renew my mortage?
At the end of the term of my mortgage is the lender obligated to renew my mortgage?
Does a lender charge a renewal fee?
What is an open mortgage?
What is a closed mortgage?
Breaking your mortgage.
Is there ever a good time to break my closed mortgage and pay the prepayment penalties?
Penalties for switching you mortgage.
Are there always penalties when I switch my mortgage to another lender?