A Residential Mortgage is a loan against your principal residence where the Lender keeps the asset as collateral until the borrower repays the loan amount. The cost of borrowing represented as a Percentage is called the Interest Rate.
Interest Rate can be Fixed over the term or can fluctuate(Variable) throughout the term which is determined by Market's Prime Rate.
Benefits of Fixed Rate Mortgage:
Benefits of Variable Rate Mortgage:
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Unit 1710 10448 University Dr. Surrey, BC
Contact:
Suki Bath , Realtor
604 726 2626
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