For most people, obtaining a mortgage is likely the largest financial transaction their lifes. It is important to have as much knowledge as possible to make an informed decision. We have compiled a list of nine basic mortgage questions. Ask your Lender these questions and sit back and listen to the answers. It probably wouldn't hurt to write down the answers. We would be happy to help you make an informed decision with your mortgage.
- How is the interest on my calculated? What is the difference between monthly and semi-annual compounding?
- Is the mortgage portable? Is the mortgage assumable?
- Am I still responsible if someone assumes our mortgage?
- What are mortgage interest rates based on?
- When the Bank of Canada changes interest rates, how does this impact my mortgage?
- What penalties would I pay if I wish to move to another Bank or payoff this mortgage?
- Is there a way to avoid or reduce mortgage penalties?
- How are these penalties calculated? What does interest differential mean?
- Is there a method to make this mortgage tax deductible?
We can help you obtain a mortgage at the lowest rates.
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