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Friday, November 8th, 2019

Becoming Mortgage Free Faster

August 6, 2014 by  
Filed under Recent News

Regardless of how long you’ve had your mortgage or how large or small the current balance is, there are a variety of ways to make prepayments work for you to pay down your mortgage faster and, therefore, pay less interest throughout the life of your mortgage. After all, each extra payment amount will reduce your […]

Mortgage Freedom on the Horizon for Some Canadians: Scotiabank Study – Ask a Vancouver Mortgage Broker

Scotiabank Offers Advice on How to Become Mortgage-Free Faster TORONTO, ON–(Marketwired – April 01, 2014) – The dream of mortgage freedom is less than 10 years away for 37% of Canadian mortgage holders, according to Scotiabank’s Mortgage Landscape Study. More than two-thirds (68%) of mortgage holders have taken steps to pay off their mortgage faster, including […]

5 ways to pay off your mortgage faster – Ask a Vancouver Mortgage Broker

5 ways to pay off your mortgage faster Want to get relieve yourself of mortgage stress? Check out our tips for paying off your mortgage faster and saving more money. Purchasing a home is a major accomplishment, but paying off your mortgage as early as possible will be the best investment you can make. A […]

34, mortgage and debt free: Here’s how

Over the past 18 months Moneyville has followed my early retirement journey which started as a dream to retire when I was 45. I’ve been working hard over the past few years to make the dream come true and I’ve managed to bring the target down to Freedom 42, just eight years from now. I’m […]

15 Years to Go

That’s the average time remaining before the typical mortgage holder will be free and clear, according to a BMO survey released today. In addition, only 12% of Canadians have greater than 25 years left until their mortgage is repaid. (Not surprisingly, a disproportionate number live in B.C. where prices are 38% above the national average.) […]

Why we’ve locked in to a 10-year mortgage

Our new home in Scarborough is a detached, three-bedroom side-split that cost nearly $560,000.  We borrowed nearly $515,000 to buy it,  a sum  that makes me queasy. With the help of a mortgage broker, we chose a 30-year mortgage from ING Direct, and locked-in to a 10-year term at an interest rate of 3.99 per […]

Bid your mortgage goodbye

With today’s low mortgage rates, now is a good time to look at ways to pay off your mortgage more quickly. Fixed versus variable savings, at a glance With a base scenario of a $300,000, 25-year amortization, five-year fixed-rate mortgage at 3.45 per cent and a monthly payment of $1,496.23, if you: – Pay $100 […]

Canadians aim to pay mortgages sooner

Canadian homebuyers are showing “a high level of financial literacy,” according to a new Canada Mortgage and Housing Corp. survey that found both high levels of research and a determination to pay off mortgages quickly. The survey, released Wednesday, said 75 per cent of respondents felt it “very important” to pay off their mortgages as soon […]

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