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Mortgages

Home » Mortgages
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By adminK
In
Posted August 13, 2019

What’s the difference between an open mortgage and a closed mortgage?

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 [...]

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By adminK
In
Posted August 13, 2019

What’s the difference between a fixed-rate mortgage and a variable-rate mortgage?

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 [...]

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By adminK
In
Posted August 13, 2019

How is interest calculated on a variable-rate mortgage?

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 [...]

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By adminK
In
Posted August 13, 2019

What makes the mortgage amortization period and the mortgage term different?

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 [...]

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Email: admin@rockinc.ca
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Head Office:
38 Innovator Avenue, Unit 1
Stouffville, ON L4A 0Y2

Vaughan Office:
80 Bass Pro Mills Drive, Unit 8
Vaughan, ON L4K 5W9

Toronto Office:
2875 Dufferin Street
Toronto, ON M6B 3S5

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