Upcoming Mortgage Changes, May 2023
Starting May 1st, new changes to mortgage fees are expected to take effect. Here's a summary:
How do I calculate my monthly mortgage payment?
Purchasing a home is a significant milestone in many people's lives, and for most buyers, securing a mortgage is an essential part of the process. However, understanding how to calculate your monthly mortgage payment can be overwhelming, especially for first-time homebuyers. In this article, we will break down the steps to calculate your monthly mortgage payment, providing you with the knowledge you need to make informed decisions about your home purchase.
What is a Mortgage? A beginner’s guide.
A mortgage is a type of loan that is used to finance the purchase of a property, such as a house or a condo. Mortgages are typically long-term loans that are repaid over a period of 15 to 30 years, with the property serving as collateral.