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FAQ 

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Question 1-   At the end of the term of my mortgage is the lender obligated to renew my mortgage?
Question 2-   Does a lender charge a renewal fee?
Question 3-   Should I take a short-term mortgage or a long-term mortgage?
Question 4-   What is amortization? And what is the best amortization period to seek?
Question 5-   What is a fixed rate mortgage?
Question 6-   What is a variable interest rate mortgage?
Question 7-   What can I do if I have variable interest rate mortgage and interest rates start to rise?
Question 8-   What is an open mortgage?
Question 9-   What is a closed mortgage?
Question 10-   Is there ever a good time to break my closed mortgage and pay the prepayment penalties?
Question 11-   Are there always penalties when I switch my mortgage to another lender?
Question 12-   If I see a dramatic change with a higher interest rate posted by banks should I immediately lock in?
Question 13-   It is possible to negotiate a mortgage rate?
Question 14-   O.K. so there are many reasons to work with an expert on our next mortgage, but what does that cost?
Question 15-   Are there any other reasons to work with a Mortgage Expert?
Question 16-   What is a high ratio or insured mortgage?
Question 17-   When making a mortgage payment is it better to pay weekly, or monthly?
Question 18-   Is it important to insure my mortgage with life insurance and disability insurance?
Question 19-   Well, would it not be easier to buy my insurance direct from the bank when I obtain my mortgage?
Question 20-   If I have extra cash should I pay off my mortgage or buy a RSP?
Question 21-   Does it make sense at my next mortgage renewal to increase my loan amount to buy RSPs?
Question 22-   I have a 5 year term with my mortgage what does this mean?
Question 23-   What is my Fortune?



 

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