| | 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... |