http://www.ratehub.ca – In Canada, there are a number of mortgage payment options. Mortgage Centre Broker Chris Molder explains the most popular mortgage payment options and their effects.
1:00 Monthly Mortgage Payments
1:16 Bi-weekly Mortgage Payments
1:55 Accelerated Bi-weekly Mortgage Payments
2:33 Calculating Your Annual Payment Amounts
ABOUT MORTGAGE MATH:
Whether you’re a first-time homebuyer or a veteran homeowner, learning the ins and outs of the home buying process and the Canadian mortgage market can be a big undertaking. Produced by Ratehub.ca and The Loop by Sympatico.ca, Mortgage Math is an all-new video series dedicated to giving viewers all of the information and tools needed to navigate through the world of mortgages and homeownership.
Featuring some of Ratehub.ca’s best and brightest partners, you’ll not only learn about seven different aspects of the home buying process — like how to qualify for a mortgage, compare fixed and variable rates, and calculate CMHC insurance — but also follow along as our experts perform the related calculations in real-time on a whiteboard.
WATCH THE OTHER MORTGAGE MATH VIDEOS:
1. How to Get a Mortgage in Canada – http://youtu.be/_mEp2ucQBy0
2. How to Calculate Debt Service Ratios – http://youtu.be/wz3qSoBGjp0
3. The RRSP Home Buyers’ Plan –
4. Fixed and Variable Mortgage Rates – http://youtu.be/2Ru3ejpFS3o
5. How to Calculate CMHC Insurance – http://youtu.be/GncRSX7BUvM
6. How to Calculate Land Transfer Tax – http://youtu.be/xOf2dASV5nw
7. Mortgage Payment Options in Canada – http://youtu.be/auS2HWiWD9w