CTV News - Mortgage Minute
In this Mortgage Minute, Frank Napolitano and Kurt Stoodley discuss the advantages of a portable mortgage.
Click here to watch the full video from CTV Ottawa Morning Live.
The possibility of rising interest rates seems to be top of mind for most homeowners, making choosing the right mortgage rates and terms more important than ever. In this Mortgage Minute from CTV Ottawa Morning Live, Frank Napolitano and Kurt Stoodley discuss the benefits of having the option to transfer a mortgage to another property.
Many who are renewing their mortgage with plans to sell in two or three years may choose to only renew for the number of years they plan to stay in their current home. However, as we learn in this video, choosing a ten year fixed rate mortgage may be more beneficial in this situation. Having a portable or transferable mortgage allows a homeowner to keep that low mortgage rate, even when changing properties.
To find out more, contact your qualified Mortgage Broker.