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Your Path To A Better Mortgage
What does a Mortgage Path really mean? Back in day, a mortgage path was generally seen as the “path to pay it off”. That should be most if not all borrowers one goal when it comes to borrowing money on their home. To pay it off. If this is your plan, then you are doing…
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What A M.I.C. Mortgage Looks Like. On Closing.
We are going to break down the costs when you are closing your mortgage with a M.I.C. type lender. We can look into what a MIC is, and how they are formed in a later discussion. For now, we will focus on the costs to this borrower type on closing. The M.I.C. interest rate generally…
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What Is A Mortgage Exit Strategy
We are not talking paying your mortgage off. That is everyone’s goal. Here we are going to discuss the high interest rate mortgage, and the cosigned mortgage. “When am I able to get into a better mortgage rate?” Situation #1 The high interest mortgage. We have to realize that any rate above the bank prime…
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The Philosophy of “Un”insured Mortgages
So let’s just jump into this fact. Putting down 20% on your mortgage avoids default insurance cost, and PST on that premium payable at the lawyers, but it does increase your rate. Yes, more down does not necessarily mean better rate. “It is the world of insurance and an insured mortgage takes the plate when…