Choosing the right mortgage

The various aspects of a mortgage that will determine your total cost of borrowing

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12 articles in this collection
Written by Andrew Sikomas

Terms and conditions

The features and fine print that affect your total cost of borrowing.
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Written by Andrew Sikomas
Updated over a week ago

Prepayment privileges

How to get ahead on your mortgage without paying fees or penalties.
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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
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Written by Andrew Sikomas
Updated over a week ago

Penalty clause

All about the payout penalty and how it is calculated
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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
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Written by Andrew Sikomas
Updated over a week ago

Accelerated payments

What are they and how do I figure out what mind would be?
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Written by Andrew Sikomas
Updated over a week ago

Fixed rate vs variable rate

Budget certainty vs historical gains if you accept volatility
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Written by Andrew Sikomas
Updated over a week ago

Prime rate

A key interest rate that other loan rates are based on.
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Written by Andrew Sikomas
Updated over a week ago

Payment frequency

How often/when can my mortgage payments be made?
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Written by Andrew Sikomas
Updated over a week ago

Skip a payment

Some mortgages allow you to skip payments from time to time
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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)
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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.
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Written by Andrew Sikomas
Updated over a week ago