How Do You Pay Off Your Mortgage Faster?Posted by Infinity Admin on
Buying a home is a big investment and a huge commitment, but most homeowners will attest that the pay-off is worth the pains and strains of making those regular mortgage payments. Most people focus on their mortgage interest rate as a way of saving money (or at least, ensuring more of it goes toward your principal), but there are other ways to decrease the amount paid in interest. One way is to pay your mortgage off faster. More on that below, but let’s start with a basic mortgage 101.
What is a mortgage?
In order to buy a home in Canada, you’ll need a down payment of at least five per cent of the home’s purchase price (but it can be more). These funds are typically saved over time and can be boosted with the help of…
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