The choice between an open and closed mortgage comes down to a trade-off between payment flexibility and a lower interest rate. […]
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Open vs Closed Mortgage: What’s the Difference?
Insured vs Uninsured Mortgage: What’s the Difference?
The main difference between an insured and uninsured mortgage comes down to your down payment size and who pays for default insurance. […]
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Mortgage Renewal Advice: 9 Things to Know
The key to a successful renewal is to proactively shop around and negotiate for terms that work for you. […]
Your Mortgage Renewal Checklist
Not all mortgages are created equal. Many of the intricate details are hidden in the terms of your contract, which can make life for mortgage holders confusing and stressful. But it doesn’t have to be that way. At Mortgage Connection, our entire story is built on providing clarity. This guide provides a clear checklist to […]
Can You Lock in a Variable Rate Mortgage?
Key Takeaways Locking in a Variable Rate Mortgage Variable-rate mortgages can be appealing when interest rates are low because they can allow you to pay off your mortgage faster. You may choose a variable rate when renewing your mortgage or as a first-time buyer finding the right mortgage for you. Variable rates offer more flexibility […]
What Is a TDS Ratio?
TDS ratio is the percentage of your gross monthly income that goes toward housing costs and other debts—like car loans, credit card payments, and personal loans. […]
Will My Mortgage Automatically Renew?
In some cases, your mortgage may be renewed automatically. But automatic renewals aren’t always in your best interest. […]
What Is a Mortgage Maturity Date?
Simply put, the mortgage maturity date is the day your existing agreement with your lender expires, and your remaining balance becomes due. […]
How Long Does Mortgage Pre-Approval Take?
Mortgage pre-approval timelines typically range from 1 to 2 business days, but this can vary based on several factors. […]
What Happens When You Pay Off Your Mortgage in Canada?
After your final mortgage payment, remember to update your homeowner’s insurance, confirm the property title is in your name, and plan how to use your extra funds. […]
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