Making prepayments on your mortgage could save you thousands of dollars over the years—as long as your mortgage lender allows them.
A mortgage prepayment is any amount you pay in addition to your regular payments. This can include increasing the amount of your regular mortgage payments or making a lump-sum payment to reduce or pay off your mortgage balance...
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...
First-time buyers may be particularly concerned with entering the expensive real estate market in Winnipeg, with the average home price escalating to around $230,000.
What can you afford?
As a first time home buyer, it’s essential to figure out what you can afford. A rule of thumb is that your household expenses should not add up to more than...