by Bhu Gulati | Feb 1, 2023
The length of time that the options and interest rate you choose are in effect. When the term is up, you can renegotiate your mortgage and choose the same or different options.
by Bhu Gulati | Feb 1, 2023
Once the original term of your mortgage expires, you have the option of renewing it with the original lender or paying off all of the balance outstanding.
by Bhu Gulati | Feb 1, 2023
The process of paying out the existing mortgage for purposes of establishing a new mortgage on the same property under new terms and conditions. This is usually done when a client requires additional funds. The client may be subject to a pre-payment cost.
by Bhu Gulati | Feb 1, 2023
An option that lets you transfer or switch your mortgage to another home with little or no penalty when you sell your existing home. Mortgage loan insurance can also be transferred to the new home.
by Bhu Gulati | Feb 1, 2023
The ability to make extra payments, increase your payments or pay off your mortgage early without incurring a penalty.
