Antonios "Tony" Georgiou
Professional advice is a key element toward building your wealth. Your home is your greatest asset and finding a borrowing solution that compliments your investment plan is important!
I can help you find a Mortgage that's best for you. With access to over 30 lenders I can negotiate on your behalf and provide you with a competitive solution that is personally tailored to benefit you.
After spending 25 years in the banking industry I have the experience and knowledge to guide you through a process that ...
CTV Morning Live: Mortgage Minute - May 17
Date Posted: May 18, 2016
Frank begins speaking about mortgage terms and what the word "term" means.
Mortgage Term - Is the number of years or months over which you pay a specific interest rate. Term usually ranges from 6 months to 10 years.
This should not be confused with the amoritization period this is the time over which all regular payments would pay off the mortgage. This is usually 25 years for a new mortgage, however can be greater, depending on the lender.
Frank then discusses the difference between fixed rate vs variable rate mortgages.
Fixed Rate Mortgages - Is when a mortgage for which the rate of interest is fixed for a specific period of time (the term).
Variable Rate Mortgages - Is when a mortgage for which the rate of interest may change if other market conditions change. This is sometimes referred to as a floating rate mortgage.
If you are not sure which mortgage is right for you contact one of our qualified mortgage brokers to discuss all of your options.