How Much Do You Know About Your Mortgage?
Buying a home is a dream for many Canadians from all walks of life. Real estate can be a great investment, or a place to raise a family, or both. Buying property almost always means getting a mortgage. Do you have a good understanding of how your mortgage works? Your home could be the most valuable investment and the biggest asset in your life, and your mortgage could be your largest debt. Test your mortgage knowledge, and see how much you know about the biggest expense in most people's budget!
1
What is the minimum down payment for a $750k home purchase?
2
What is a mortgage that can be paid back without penalty called?
3
What can you do with a portable mortgage?
4
Who does a mortgage broker work for?
5
Who decides what variable mortgage rates will be?
6
What is a HELOC?
7
What is the best kind of mortgage to get?
8
How are fixed mortgage rates determined?
9
When your mortgage interest tax deductible?
10
How much time can you save if you pay bi-weekly vs monthly?
11
What is the most popular mortgage amortization?
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