Paying off your mortgage faster
To pay off your mortgage faster, consider putting extra money toward your mortgage.
Your mortgage contract may allow you to:
- increase the amount of your regular payments
- make lump-sum payments
Your lender calls this a prepayment or prepayment privilege. Check your mortgage contract or contact your lender to find out about your prepayment options.
Original Article Source Credits: Canada.ca, https://www.canada.ca/
Article Written By: NA
Original Article Posted on: 16th September 2020
Link to Original Article: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/pay-mortgage-faster.html