Canadian Mortgage 101: What You NEED To Know in 2023

Getting a mortgage in Canada can feel complicated, so in this video we’re getting back to basics. We’ll talk about amortization, fixed vs. variable rates, open vs closed mortgages, penalties for breaking your mortgage term and much more!

In this video you’ll learn:
0:00 Mortgage basics introduction
0:28 What is a mortgage term
2:04 What is amortization
2:39 How amortization affects your mortgage payments and interest
3:46 Fixed vs variable rate mortgage: Which is better?
6:08 Open vs closed mortgage
6:55 Prepayment privileges & how they work
9:18 What penalties you’ll be charged for breaking your mortgage
10:54 Why the best rate is not always the best solution

📲 Book your obligation-free call with me to discuss your mortgage or real estate needs here: https://emmastara.com/book-a-consulta...

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Although the information set out in this marketing communication is obtained from sources believed to be reliable the author does not guarantee its accuracy or completeness. All information is indicative and subject to change without notice and may be out of date at any given time. The author shall not be responsible for any loss that you may incur, either directly or indirectly, arising from any investment or financial decision that is made based on any information contained herein.