If you plan to live in the home for more than five years, you need not worry about portability that is, shifting the mortgage to a new property.
If you don’t plan on moving, refinancing or making huge prepayments in the upcoming five years, you can consider low-frills mortgages.
Most first-timer buyers opt for a 5-year fixed rate because they cannot afford an interest risk.
If you do go variable, look for one that maintains your payment the same regardless of interest rate variations. It’s easier for budgeting and gives you peace of mind if rates start climbing.
If you plan to live in the home for more than five years, you need not worry about portability that is, shifting the mortgage to a new property.
If you don’t plan on moving, refinancing or making huge prepayments in the upcoming five years, you can consider low-frills mortgages.
Most first-timer buyers opt for a 5-year fixed rate because they cannot afford an interest risk.
If you do go variable, look for one that maintains your payment the same regardless of interest rate variations. It’s easier for budgeting and gives you peace of mind if rates start climbing.
Purchasing your first home is an exciting and often overwhelming milestone. If you are a first-time homebuyer in Mississauga, understanding your mortgage options and how
Embarking on purchasing your first home is an exciting and monumental step. As a first-time homebuyer, the process may seem overwhelming, especially when navigating the
Buying your first home is a monumental step, filled with excitement, decisions, and a bit of uncertainty. Whether you’re searching in bustling areas like Mississauga
