Back to learn
What is an accelerated mortgage payment?
Rounding it up
Accelerated mortgage payments are a great way to free up some capital that you’re currently committing to monthly payments.
However, accelerated mortgage payments are not headache-free. They may come with prepayment penalties, depending on the type of mortgage contract you have.
These penalties can stack up into the five digits, so ensure you do the calculations and understand all terms before making any decisions.
Dan Bucherer
Dan is a runner and writer living in the Washington, D.C. area, where he currently works for a financial services trade association as the Communications Director.
Related articles
What is "buy now, pay later" for online shopping?
6 mins
Ally StreelmanHow does buy now, pay later work? How do you use it? And what’s the catch? Learn all about this trending payment method.
What is "buy now, pay later" for online shopping?
6 mins
Ally Streelman
How does buy now, pay later work? How do you use it? And what’s the catch? Learn all about this trending payment method.
#BNPL
#loan
#credit score
#online shopping
Does inflation make it harder to purchase a home?
6 mins
Dan BuchererInflation might be a boon for sellers but it’s tough times for folks buying. Read on to learn more about what you can do.
Does inflation make it harder to purchase a home?
6 mins
Dan Bucherer
Inflation might be a boon for sellers but it’s tough times for folks buying. Read on to learn more about what you can do.
#inflation
#real estate
#mortgage
#home buying
How much is a mortgage downpayment in Canada?
5 mins
Yekaterina GalanovaThe down payment is the amount of money you put down towards a mortgage loan when buying a house. The standard down payment for a mortgage in Canada is 20% but can be as low as 5% or as high as 35%.
How much is a mortgage downpayment in Canada?
5 mins
Yekaterina Galanova
The down payment is the amount of money you put down towards a mortgage loan when buying a house. The standard down payment for a mortgage in Canada is 20% but can be as low as 5% or as high as 35%.
#mortgage
#savings
#budgeting
How is homeowner's insurance calculated?
5 mins
Ryan SeveranceEvery year, Canadians save billions thanks to homeowner’s insurance. Here’s how to maximize your coverage as a Canadian homeowner.
How is homeowner's insurance calculated?
5 mins
Ryan Severance
Every year, Canadians save billions thanks to homeowner’s insurance. Here’s how to maximize your coverage as a Canadian homeowner.
#insurance
#home insurance
#home ownership
Can international students get a bank loan in Canada?
6 mins
Ryan SeveranceHitting the books in Canada? Here’s what international students should know about loans, scholarships, and grants when studying abroad here.
Can international students get a bank loan in Canada?
6 mins
Ryan Severance
Hitting the books in Canada? Here’s what international students should know about loans, scholarships, and grants when studying abroad here.
#student
#university
#international student
#loan
Is there a tax credit if you buy a home?
5 mins
Dan BuchererHopping on the post-pandemic housing surge? Make sure you take advantage of these tax credits!
Is there a tax credit if you buy a home?
5 mins
Dan Bucherer
Hopping on the post-pandemic housing surge? Make sure you take advantage of these tax credits!
#first time home buyer incentive
#first time home buyer
#home buyer incentive
#home ownership
#tax credit