Getting a low interest rate is only one part of an effective strategy to paying off your mortgage faster! Don't focus all your time and energy on rate comparisons. It is equally important to look for a mortgage with flexible terms that can adapt to your changing financial needs.

Here are two money saving strategies to get you on your way to mortgage freedom...

The first and most important decision that a first time home buyer can make is to get pre-approved to purchase. 

A mortgage pre-approval is different than a simple pre-qualification. Sometimes even real estate agents are confused by the terms, so it’s no wonder that home buyers are too.  Although related, the two terms each signify a different level of approval from a lender...

In today’s competitive housing market, where you may be competing against multiple buyers in a bidding war, you may be tempted or even encouraged to write a “clean” offer to purchase, without including any conditions.  This is a binding sales contract once the sellers accept your offer.  The most common conditions placed in offers allow buyers time to obtain their financing commitment from their mortgage lender, and may also include a satisfactory home inspection...