Mortgage penalty, often an unpleasent surprise?!

Published on April 15, 2020 by MultiPrêts MR

Do you know the conditions on the penalty of a mortgage loan about fixed rate?

The financial institutions do not calculate all in the same way, it is important to inquire well before signing a mortgage loan.

Here's an example:

You buy a $200,000 property from a 3.19% rate and remaining term of 2 years, you decide to sell, you ask your financial institution to calculate the penalty and well ...SURPRISE... some will charge you $2,400, another $6,494 and even worse, certain institutions are going to send you an expensive bill of $8,000.

To avoid unpleasant surprises, consult us. We know the conditions.

We are your mortgage advisers...for life!