1000 islands, I wish you locked in your mortgage rate two weeks ago, the fixed rate went up, now the best 5 years is at 4.85%... however you can get the variable rate at 2.4% below prime for the first 6 months. Shop around and fetch the best deal.
Bora
Keep the following in mind when dealing with your lender(s):
- Pre-payment: the more flexible the better;
- Repayment: the more frequent you make, the more interest you save;
Then the best part:
- If you put down more than 25%, ask for a home equity line of credit pre-approved. Make sure...
1000 islands, don't know if you have signed up that mortgage. If not, make sure the prepayment option and check out the payment frequency. Given 4.55% for five years, if you make bi-weekly contribution at the end of five years you save more interest on the principal than making monthly payments…...