Understanding amortizations and terms can help plan a mortgage that works for every stage of your life. Moving? Renovating? Accessing a lower rate? Strategizing the terms for your mortgage can save you 💵💵by avoiding paying penalties to break your term.
Terms are to be renewed at the end of each term period. During this time you’re free to renew with your current lender or renegotiate your mortgage terms and rates without penalties. Term rates vary based on the amount of years selected.
See photo attached below to learn more about the difference between amortization and term periods.
To learn more about what amortizations and terms are available to you, let’s chat today!
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