This weeks Terminology Tuesday covers the difference between semi-monthly payments and accelerated bi-weekly payments. The difference is that semi-monthly payments have 24 payments per year while accelerated bi-weekly payments have 26 payments per year.
@marcsonamission is back with another Monday Mailbag! This time he discusses whether or not your mortgage starts when your condo gets built.
Watch and then enjoy your holiday Monday!
#HamOnt#Mortgages#MortgageBroker#RealEstate
https://t.co/RBPtAffj2b
It's Terminology Tuesday and it’s time to learn about benchmarks!
A benchmark is the rate the mortgage needs to qualify at when financing a purchase with less than 20% down, or when looking to obtain a variable mortgage rate.
This is sometimes called the "stress test" and not to be confused with the mortgage rate.
The government enacted this rate to ensure that in the case of rising interest rates, Canadians would be able to afford their mortgage, if it renewed in a higher interest rate environment.
Are you a cash earner?
Come check out #tipsfortips at Levity Comedy Club & Lounge NEXT MONDAY! Simple tips to help you cash in on that cash and get a mortgage! Featuring Top Industry Professionals from Realty Network, @JAAGproperties@Mission35M
Email [email protected] for details!
The refs let that game get completely out of hand last night. Sure, Boston is going to come out more physical, but a penalty is a penalty.
No calls early = late game shenanigans
We'll be discussing interim financing in todays edition of Mission35's Terminology Tuesday!
Also known as a bridge, interim financing is a promissory note that is paid off immediately following the closing date of the buyer’s current home.
Predicting rates is like predicting the weather. Take the guess work out and lock in now. Email [email protected] to get one step closer to your homeownership dreams!
A rate hold can be advantageous in this case as well. It can cost you thousands in interest if you miss the opportunity to lock a rate in. We can help with Christmas bills as they arrive this month too.
Get off to a positive start this year, call us today!