Are you considering taking out a mortgage to buy property? Here are some terms you may encounter when you read your mortgage contract.
Adjustable Rate Mortgage (ARM)
This is a loan with an interest rate that can change during the term of the loan. Payments tend to increase or decrease with the interest rate, which is typically [...]
In one of our previous post, we outlined the pros and cons of fixed mortgage rates. Today, we will look deeper into the variable mortgage rates and its variation. You should know upfront that there are two types of variable mortgage rates: The home equity line of credit (HELOC) and the conventional variable mortgage [...]
When it comes down to buy a property, there are plenty of mortgage products and each of them has several characteristics. One of the most important is the interest rate. This post is about the pros and cons of a fixed mortgage rate. We will also give you examples when a fixed mortgage [...]
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