How to pay off your mortgage faster in Canada (and when should you do it)

Homebuyer's School

English - May 13, 2019 22:53 - 9 minutes - 8.84 MB - ★★★ - 25 ratings
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Previous Episode: What's the difference between an insured and conventional mortgage in Canada?

Next Episode: Is it better to pay off my mortgage or invest my money?

So how do you pay off your mortgage faster or earlier? Is it a good idea to? Are there any penalties? In this episode, we talk with Mujtaba Syed, Mortgage Specialist with TD Canada Trust, and discuss how to pay off your mortgage faster and what is the fastest way to do so. We also explore if you should pay off your mortgage before your term ends and if there is a penalties for doing so.

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/whats-the-difference-between-an-insured-and-conventional-mortgage-in-canada

We discuss the following items:

Difference between insured and conventional mortgage Benefits of each type and why they would fit your needs How do the payment plans differ between the two? Do insured mortgages have higher payments?

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