Ontario Mortgage Finder Bad credit mortgage for Ontario

Your mortgage is the most expensive item in your life

Saving interest is how to put dollars back into your pocket

Know your mortgage » How To Save

Smart ways to save on your mortgage

Simple steps to take to cut the interest you save on your mortgage

  • Save interest by keeping your mortgage payments the same but increasing the payment frequency.  Change from monthly payment to biweekly option
  • Take advantage of the annual or monthly pre payment option that comes with your mortgage.  This may could be anywhere from 10% to 25%.  You do not need to pay down all of it, and only a fraction can help reduce and allow you to shorten the amortization remaining
  • If you are looking to refinance your current mortgage consider blending and extending.  It may be a better alternative then refinancing your entire mortgage
  • If you are renewing, take a look at your current amortization and consider decreasing it to the shortest possible term while keeping your payments comfortably