Are you not sure which mortgage is suitable for you? Fixed rate mortgages have a constant rate no matter how much the prime rates vary. Different mortgages have different terms for repayment.
Benefits of such mortgages are:
- They offer stability
- You can budget how you will repay the mortgage
Under a Fixed Rate Mortgage, the lender should provide you with information on:
- The amount being borrowed
- Interest rate that they will charge you
- The period in which the lease agreement will be in effect
- How long it will take to repay the borrowed amount, etc.
Reach out to one of our experts to find a product that suits your needs.