Kelowna Real Estate - Mortgage Options
Posted by AJ Hazzi on
11 Important Points to Consider When Shopping for Your Mortgage
How many hours do you have to work to make $40,000? If every month you had an extra $162 could you find something useful or fun to do with it? Do you realize the difference in total interest you pay to your mortgage lender on a 20 year mortgage between a 4% loan and a 5% loan is just a hair under $40,000… WOW huh? The difference in monthly payments is $162… YES that’s EVERY month. Do I have your attention? As you can see from the example above the right or wrong decision when signing your home mortgage can equate to a difference of thousands of dollars in interest paid from your hard earned money. There are very important considerations to evaluate before you commit to a 25, 30 or 35 year…
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