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Choosing the right mortgage
Choosing the right mortgage
The various aspects of a mortgage that will determine your total cost of borrowing
12 articles in this collection
Written by
Andrew Sikomas
Terms and conditions
The features and fine print that affect your total cost of borrowing.
Written by
Andrew Sikomas
Updated over a week ago
Prepayment privileges
How to get ahead on your mortgage without paying fees or penalties.
Written by
Andrew Sikomas
Updated over a week ago
Porting your mortgage
Transfer the remainder of your existing mortgage term, outstanding principal balance, and interest rate to a new property
Written by
Andrew Sikomas
Updated over a week ago
Penalty clause
All about the payout penalty and how it is calculated
Written by
Andrew Sikomas
Updated over a week ago
Amortization
The length of time it will take you to pay off the mortgage in full
Written by
Andrew Sikomas
Updated over a week ago
Accelerated payments
What are they and how do I figure out what mind would be?
Written by
Andrew Sikomas
Updated over a week ago
Fixed rate vs variable rate
Budget certainty vs historical gains if you accept volatility
Written by
Andrew Sikomas
Updated over a week ago
Prime rate
A key interest rate that other loan rates are based on.
Written by
Andrew Sikomas
Updated over a week ago
Payment frequency
How often/when can my mortgage payments be made?
Written by
Andrew Sikomas
Updated over a week ago
Skip a payment
Some mortgages allow you to skip payments from time to time
Written by
Andrew Sikomas
Updated over a week ago
Term
The length of time the terms and conditions of your mortgage are in effect (rate, payment amount, prepayment options)
Written by
Andrew Sikomas
Updated over a week ago
Why are rates better for lower down payments?
The rates may sometimes be lower but total borrowing costs are still much higher.
Written by
Andrew Sikomas
Updated over a week ago