There are many decisions when it comes to Your Windsor Mortgage. You can refinance, purchase, renovate, secure a line of credit, Pure equity take out, pay off debt, etc. These are all directions any Windsor Mortgage Agent can take. All directions involve a rate, and a time frame ( amortization) . Add to this the term, and the prepayment privileges mortgages can easily become something you want to get over quickly. What I will say is this! Choose a strategy. Remember there are many decisions in the process; but the strategy must remain the same. When you choose a mortgage strategy your choosing a greater direction. Rate, term, prepay, everything else becomes trivial.

Strategic Payoff Strategy – This strategy relates your payoff year. It is focused on the amount of time. Rate does play a partial role, but really the decision maker will be WHEN. The following example shows the difference between Client A choosing the best rate (which came with no prepayments). Client B decided on a higher rate (which came with full prepayments). Client B then paid down the mortgage additionally. Client A focused on rate. Client B focused on paying off the mortgage in 5 years. With full prepayment options this was able to happen. Look at the savings.

The Strategic Payoff Strategy usually comes into play when there is a decisive plan toward paying off the mortgage. This plan usually happens later than sooner with most people. Most couples focus on other strategies that will be discussed such as the Debt Eliminator Strategy, or Cash Flow Strategy.

Always make sure you perform a cost analysis and break-even point. It should always save your interest or cash-flow when choosing a strategy.

Your Fearless Mortgage Agent

Duncan Wilson

For Mortgage Information Call 5199822505

Or Email Wilsond@dominionlending.ca

www.duncanwilson.ca