Finance financing types: Difference between revisions

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| khan academy: mortgage intro || https://www.youtube.com/watch?v=vy_pvstdBhg
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Revision as of 22:54, 10 April 2022

Mortgages

Information Sources

canadian HPI charted https://housepriceindex.ca/#chart_compare=c11

Tutorials

canada gov: mortgage portal https://www.canada.ca/en/financial-consumer-agency/services/mortgages.html
canada gov: pay mortgage faster https://www.canada.ca/en/financial-consumer-agency/services/mortgages/pay-mortgage-faster.html
york U: guide to mortgage calculation https://www.yorku.ca/amarshal/mortgage.htm
investopedia: mortgage https://www.investopedia.com/terms/m/mortgage.asp
khan academy: mortgage intro https://www.youtube.com/watch?v=vy_pvstdBhg

Fun Facts

  • Canadian mortgages compound bi-yearly by law
  • Down Payments less than 20% require
    • Mortgage Insurance (protects the lender at your expense)
    • A term of 25-years or shorter
  • In addition to the purchase price, you'll be charged a land registration fee (a percentage of your purchase price)
  • You may need to purchase utility-hookup fees, painting/cleaning