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What if my appraisal is lower than mortgage offer

 
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Nikole


Hello, What if my appraisal is lower than mortgage offer?
0     In Mortgage Cont.20

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    Q. Can i lower the amortization when i renew mortgage?


    ON Canada - you can definitely reduce the number of years. Your monthly payments would be higher than if you get the 25 years amortization. If you want to pay faster, you may want to use pre-payments and top up allowances instead while keeping the payments low. Congratulations on your becoming mortgage free faster.

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    Q. What is the penalty for going to a much lower ported mortgage?


    Guess no one knows....

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