Confused by mortgage vs life insurance? Discover payouts, coverage shifts, and flexibility with Mortgage Connection, mortgage brokers in Calgary and Edmonton. […]
Read More… from Mortgage Insurance vs Life Insurance: What’s the Difference?
Confused about your mortgage renewal? Learn about lender choices, timelines, and smart strategies with experienced mortgage brokers in Calgary and Edmonton. […]
Purchase Contract Definition: A purchase contract is a legally binding document between a buyer and a seller that outlines the specific terms and conditions for the sale of a property. […]
Accrued Interest Definition: Accrued interest is the amount of interest you owe on your loan that has built up since your last payment but has not yet been paid. […]
Equity Take Out Mortgage Definition: An equity take out is a loan that lets you borrow money against your home’s equity. […]
Mortgage Principal Definition: Your mortgage principal is the amount of money you originally borrowed from a lender to buy your property. […]
Assumable Mortgage Definition: An assumable mortgage is a type of loan that lets a home buyer take over the seller’s existing mortgage terms. […]
Gift Letter Definition: A gift letter is a signed document that states the funds you received for a down payment are a true gift with no expectation of repayment. […]
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?
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