Faqs

Open Mortgages – you can contribute more to your mortgage payments without any penalties. Open mortgages usually have higher interest rates than closed mortgages. But open mortgages are [...]

Fixed-Rate mortgage, the interest rate is locked in and the monthly payments stay the same for the entire mortgage term. If interest rates go up during the term, you’re protected because [...]

When calculating interest on for a variable-rate mortgage, you need the outstanding principal balance, current mortgage rate and payment frequency. Multiply the outstanding principal amount by [...]

The mortgage amortization period is the amount of time it would take to pay off a mortgage, including interest. It may be between 5 and 30 years, for a new mortgage, the amortization period is [...]