The key difference is that an accelerated bi-weekly plan has you make the equivalent of one extra monthly payment per year, which pays down your mortgage much faster. […]
Read More… from Accelerated Bi-weekly vs Bi-weekly Mortgage Payments
A letter of employment is an official document from your employer that verifies your job status and income details for a lender. […]
Read More… from What is a Letter of Employment for Mortgage and Why Do You Need It?
The key difference is that a mortgage specialist works for a single bank, while an agent or broker works on your behalf to access many different lenders. […]
Read More… from Mortgage Agent vs. Broker vs. Specialist: Key Differences
The choice between an open and closed mortgage comes down to a trade-off between payment flexibility and a lower interest rate. […]
Read More… from Open vs Closed Mortgage: What’s the Difference?
The main reason for these differences is that lenders view an investment property as a higher-risk loan since you do not live there. […]
Read More… from Everything You Need to Know About an Investment Property Mortgage
The main difference between an insured and uninsured mortgage comes down to your down payment size and who pays for default insurance. […]
Read More… from Insured vs Uninsured Mortgage: What’s the Difference?
Your mortgage renewal is an opportunity to review your finances, check the market, and find a new agreement that truly fits your life today. […]
Read More… from The Mortgage Renewal Process: A Step-by-Step Guide
You can often start your mortgage renewal process up to 120 days (or four months) before your current term officially ends. […]
If you don’t renew your mortgage on time, your lender may place you into a new term with a much higher interest rate or, in some cases, could demand full repayment of the loan. […]
Read More… from What Happens If You Don’t Renew Your Mortgage?
The key to a successful renewal is to proactively shop around and negotiate for terms that work for you. […]
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