Most people will at some point own a house, a condo or an investment property in their life. Unfortunately, paying cash is not an option we all have and that’s where mortgages come in. Banks will be happy to lend you the money if you qualify. I have owned 3 houses (not at the same time) since 2002 and managing your mortgage is very important as you can save a lot of money.
Mortgage Related Posts
Paying Your Mortgage Faster
- Best Mortgage Calculator – Find out which mortgage calculator I find best of all the options out there.
- Mortgage Strategies - Mortgage strategies for paying down your mortgage.
- Pay your mortgage or invest it – Do you play the interest game? Invest when interest is low and pay down debt when interest is high?
- Is paying off your mortgage a good investment? - My take on the usual conundrum of paying the mortgage or investing or indulging.
- Mortgage Term Decision; 1, 3, 5, or 7 years? - I have a strategy on term selection and so far it’s paying off. Banks and mortgage advisors push for longer terms.
- Consider Raising Your Mortgage Payments - Early in your mortgage life, raising your payments will have a major impact to the interest portion of your mortgage.
- When Do You Plan To Be Mortgage Free? – Do you have a plan? Are you sticking to it?
Breaking Your Mortgage
- How To Evaluate The Benefit of Breaking Your Mortgage - Learn about the calculation and the consideration you need to take to assess breaking your mortgage.
- An Alternate option to Breaking Your Mortgage - An ingenious option to lower your mortgage rates by leveraging your home equity.
- Should You Refinance? – Refinancing can save you money but there can be a cost. Find out the details.
Miscellaneous Home and Mortgage Posts
- How To Assess If The Smith Manoeuvre Is Good For You – Is the Smith Manoeuvre for you? Do you understand the risks?
- Smith Manoeuvre – When Should You Consider It - Are you risk averse? Don’t like debt? See how to determine when you can start Smith Manoeuvre.
- Understanding a Reverse Mortgage – What’s your retirement plan? A reverse mortgage should be your last resort and not your primary plan.
- Property Assessment : How I use it in my Net Worth – Vancouver house prices can high and overvalued at times so I don’t use the latest assessment for my net worth but a simple formula.
- Is Your Principal Residence Your Retirement Plan – A look at the risks of relying on your home to retire.
- New Canada Mortgage and Housing (CMHC) rules changed – Have a read to see if you are impacted.
- Calculate your GDSR and TDSR – I don’t recommend going above 30% even if the CMHC allows you to.
- Shorting Mortgage Lenders – How do you feel about the housing markets? Ready to short some mortgage lenders?
Mortgage Terms
Please take a second to let me know what your preferred mortgage term is. I understand that interest rate is a factor, but in normal economic condition what term length would you pick. Personally, I have usually been picking a 3 year term and never more. These days however, I have a variable rate at prime minus 0.60.
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