Vancouver Mortgage Broker

When we shop the banks, you save.     Call: 604-669-6006

Pay Off Your Mortgage Sooner

BCIT Pay Off Your Mortgage Sooner


Pay Off Your Mortgage Sooner

  • Increasing your monthly payment by even $50.00 can take years off your amortization
  • Opt for weekly payments. At the end of the year, you would have made 2 extra payments
  • If you choose a variable rate, set your payments on the 5-year fixed rate so more money goes towards interest
  • Take advantage of the annual pre-payment privileges once a year if possible
  • Review your mortgage every year to ensure you continue to have the lowest rate
  • Refinance your mortgage if rates go down. Many times even if you have to pay the penalty (which can be rolled back into the mortgage), you will save in the long run

(All tips are for example purposes only and on approved credit)