Being a mom has shaped the way I do everything...not just at home but in my work, as well. It has helped me understand the depths of commitment that my clients have to their families. As a mortgage specialist, I have the privilege of helping people achieve their dreams for their families. I'm so grateful to be able to offer people the advise and information they need to make reaching their goals as simple as possible. My purpose with this blog is to provide tools that will help new or current homeowners reach whatever goals they have set for themselves. If you have ideas you'd like to hear about, let me know.

Sunday, 1 May 2011

Longer or shorter? Your amortization affects how much your mortgage really costs.

Choosing the length of your amortization period, which means the number of years you will need to pay the full balance of your mortgage, is an important decision that can affect how much interest you pay over the life of your mortgage.

Historically, the banking industry’s standard amortization period has been 25 years, a standard that still applies today. It is the benchmark that is used by most lenders when discussing mortgage offers. However, shorter or longer time frames are available.

CLICK HERE to visit RBC and read the whole article to find out the differences between a longer amortization and a shorter amortization so you can choose which one is better for you.
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