Be it fully loaded or all the bells and whistles, as savvy consumers we want to know that we got every bit of extra awesomeness available to us and your mortgage should be no different.
Sure you want the best rate, that’s a given. Wouldn’t you also like the extras which will make your mortgage even better with none of the yucky stuff? Of course you would!
Today we are going to look at what the mortgage extras are that you should be looking for and those you should beware of.
1. Portable – Most mortgage lenders offer a portable mortgage. This is where you can take your mortgage with you from property to property without penalty. Not all porting policies are
In order to gain understanding on “choosing the right mortgage term’, one has to understand the basics.
Amortization – This is different than “the term” of the mortgage. Amortization is usually offered in increments of 25 years, 30 years, and even 35 years. Amortizing a loan is scheduling payments, usually of consistent payment amount, that will pay off the loan in the agreed upon time period
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