This video is the ULTIMATE GUIDE to understanding mortgages A mortgage is one of the largest long-term loans a household may ever take-on so you should really gain a clear understanding on this subject. In this video we will talk about:
1. What is a mortgage?
2. How does a mortgage work?
3. A breakdown of common mortgage terminology (eg; amortization, terms, fixed vs variable interest rates, open vs closed mortgages, GDSR vs TDSR etc.)
4. How to Pay off your mortgage faster?
5. What is default mortgage insurance?
6. Qualifying mortgage requirements
7. What is a HELOC (Home Equity Line of Credit)
And so much more