Page 10 - November Market Update

Как сэкономить

на выплате

Предполагается, что

следующее повышение ипотечных
процентных ставок

произойдет 5 Декабря кредитов

...из истории одной семьи

Increase your mortgage

payments

A vital lesson for Ca-
nadian mortgage own- ...The best thing we did was to set our mortgage
ers looking to borrow payments to advanced bi-weekly immediately. By
money doing this, we were making one extra payment
a year (13 instead of 12) which instantly shaved
about four years off the amortization of our mort-
gage.

We’ve also taken advantage

of prepayment options by

This is what you using any “found” money
should know ahead of
renewing your mort- such as raises, gifts, and tax
gage

refunds.
Click on the picrure below to cal-
culate approximate amount of your Any additional payments you make towards your
next mortgage payments mortgage go 100% towards the principal so you

could pay off your mortgage quicker than you
anticipated. Just keep in mind that every mortgage
contract has set provisions about how much you

can repay. For example, our mortgage allows us
one yearly prepayment of up to 15% of our mort-
gage which is roughly $30,000.
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