12 most commonly asked mortgage questions
Lower Mainland Mortgage Broker, Kimberly Coutts, The Mortgage Maven discusses topics around the different types of mortgages, the difference between fixed and variable rates, important mortgage terms, new rule changes and the most commonly asked question covering how mortgages are affected by the Bank of Canada rate changes.
For a great educational and informative update on mortgages, be sure to check out this video covering the 12 most commonly asked mortgage questions.
:27 – What is the best mortgage rate?
1:23 – What is an insured mortgage?
1:59 – What is a conventional mortgage?
2:31 – What is a Monoline?
3:00 – Why would someone get a fixed rate over a variable rate?
3:53 – What are the two variable rates?
4:46 – When the prime rate goes down, does it affect all mortgages?
5:13 – What is a reverse mortgage?
6:16 – What does it mean to ‘port’ an existing mortgage?
6:59 – Why would someone get an alternative or a private mortgage?
7:54 – What are subjects to financing?
8:37 – Do you recommend using a mortgage broker or a bank?
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Also check out other interviews with Kimberly Coutts, Need some extra cash? Here’s the information on reverse mortgages, Lower inflation primes Canada’s real estate market for a shift and Expert gives key insights on BOC rate cut on mortgages.
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