Mortgage Prepayment Privileges

One of the biggest mistakes homeowners can make is not taking advantage of the prepayment privileges associated with their mortgage. Most mortgage lenders will allow you the following privileges to pay down your mortgage quicker:

– Increase your mortgage payments by up to 20% each year
– Make lump sum payments up to 20% of the original mortgage balance each year

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Variable Rate Mortgages

There have been two overnight rate cuts by the Bank of Canada so far this year. In total, the overnight rate has dropped by .50% (two cuts of .25%). The major banks have passed on some of those savings to customers by reducing the prime rate from 3.0% to 2.70% (two...

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Bank of Canada Cuts Overnight Rate

This morning, the Bank of Canada (BoC) cut the overnight lending rate by 25 basis points to 0.50%. According to the BoC, the rate cut was necessary to stimulate the economy, which has suffered from weak oil prices and may technically be in a recession. TD has since...

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Welcome to our new website! The original MortgageProTeam site was looking a bit dated and needed a facelift. Thanks to a lot of hard work, from us and ClickHelp.Ca, we have finally launched our new site. The new website is filled with great content, specifically for…

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The Mortgage Professionals Kingston Office
777 Blackburn Mews West
Kingston, Ontario
K7P 2N5

Jeff: 613-453-3663
Mitch: 613-328-6647
Fax: 613-384-4047

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