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Are you wondering if you should break your fixed mortgage contract to lock in a lower interest rate? Let's break down what this will mean for you. When breaking your mortgage contract early, usually because of a refinance or the sale of your home, you will, unfortunately, have to pay your lender a penalty called a prepayment penalty. The amount you pay will depend on a variety of factors including the day you signed your original mortgage contract, the term of that contract... and your existing mortgage balance, rate type and mortgage rate. One of the biggest drivers of your mortgage penalty is whether you have a variable or fixed mortgage rate. Fixed-rate holders pay the greater interest rate differential or three months interest, while variable rate holders pay just three months interest. No matter what your situation, Marco Mortgages offer tailored expert advice and support throughout the process. Book your FREE consultation NOW! : www.marcomortgages.ca : (647) 960-1799 : [email protected]

We're almost a month into 2021 - and I can say it is the PERFECT year to buy a property. Whether it's your first home or an investment property, NOW is a great time to begin putting the plans in motion and secure a property in the GTA! No question is too big or too small - I offer expert advice tailored to your situation and I'm here to make your property ownership dreams come true. Follow me for ALL of your mortgage needs and call NOW to book in your FREE consultation... to get started! : www.marcomortgages.ca : (647) 960-1799 : [email protected]

Do you need to skip a payment and are wondering what happens if you skip a mortgage payment? Many lenders offer mortgage products that allow homeowners to skip between 1-4 monthly mortgage payments each year, without question. If you decide to skip a payment, it simply means you won’t be making one of your regular mortgage payments (principal + interest). When you skip a payment, not only do you miss the opportunity to pay down your mortgage balance, the interest is still c...harged and added to your mortgage balance. It's natural to have queries when skipping a mortgage payment and what this may mean in the long-run. I'm here to help. Call TODAY for your FREE consultation to receive expert advice!

HAPPY HOLIDAYS! This holiday season, let’s make it a point to cherish what’s truly important in our lives! Wishing you a very joyous and happy Christmas to you and your loved ones

#MortgageMonday Are you hoping to reduce your home insurance premium? By installing the right features on your home you will enhance your property with a lot of cost-cutting benefits! Here are 10 KEY home renovation ideas that can help cut your insurance premium! ... Curious to find out how you can cut costs and find the best mortgage rate on the market? I've got you covered! Click the link in the bio to book your FREE consultation now! : www.marcomortgages.ca : (647) 960-1799 : [email protected]

Are you concerned about choosing a mortgage term that fits you? It's important that it's done right! Choosing the right mortgage term depends on your financial situation, your short-term and long-term goals, and your tolerance for risk. A longer-term can help you lock in a good interest rate for a lengthier period of time, whereas a shorter term can give you more flexibility but offers less protection should interest rates rise in the near future. It’s important to choose th...e mortgage term that suits your personal circumstances. One thing to keep in mind is that the mortgage term you choose will directly affect your interest rate. Historically, shorter terms have had lower interest rates. The longer the term, the more protected you are from interest rate fluctuations, and there is a premium you must pay your lender for that. At Marco Mortgages, I offer extensive support and expert advice to find the right mortgage term that suits you. Book your FREE consultation : www.marcomortgages.ca : (647) 960-1799 : [email protected]

Planning to move into your new home without a home inspection? Here is what you should know! The most important reason for doing a home inspection is to reveal any possible or current problems with the home prior to purchasing. During the inspection, the inspector will determine if all the systems within the house are functioning properly if there is any damage to the property, and what repairs are necessary. A few days after the inspection, you will be provided with a full ...report. The inspector will address how to renegotiate the price of the home, based on the possible repairs needed. Make sure to ask the inspector to include photos in the report so you can see exactly what they’re talking about. Need expert advice to make sure you receive top-quality care when it comes to buying your first home? Call today for your FREE consultation for support throughout the process! : www.marcomortgages.ca : (647) 960-1799 : [email protected]

#MortgageMonday Curious to find out what is the minimum down payment you have to pay on your mortgage? Let's break it down. Your down payment is the lump sum of money you’ll put towards the purchase of your home. In Canada, the minimum down payment you must make is between 5% and 20% of the home’s purchase price (depending on the price). If you put down less than 20%, you’ll have to buy mortgage default insurance (also called CMHC insurance) to protect your lender in case ...you default on your loan. The size of your down payment affects how much you can borrow. For example, if you wanted to buy a house priced at $300,000, you would need at least a $15,000 down payment. $300,000 x 5% = $15,000 Are you looking to put a down payment on your dream home? Let's make it happen. Call today for your FREE consultation to get started! : www.marcomortgages.ca : (647) 960-1799 : [email protected]

BIG NEWS! Marco Mortgages has OFFICIALLY partnered with Altrua Financial giving you the opportunity to find the best home and improvement mortgage in one! It's a WINNING combination that enables you to update the renovations on your new home to make it fit perfectly for YOU! ... Interested to find out if you're eligible? Call to book your FREE consultation now! : www.marcomortgages.ca : (647) 960-1799 : [email protected]

#MortgageMonday There are multiple ways to pay off your mortgage, and it's important to find one that suits you. Here are the mortgage payment frequencies made easy: What is a monthly mortgage payment?... A monthly mortgage payment is when your mortgage payment is withdrawn from your bank account on the same day of every month (i.e. on the 1st). What is a bi-weekly mortgage payment? A bi-weekly mortgage payment is when your mortgage payment is withdrawn from your account every other week, totalling 26 payments per year. What is an accelerated bi-weekly mortgage payment? An accelerated bi-weekly mortgage payment is also withdrawn from your bank account every other week, but the calculation used to determine the amount you pay is different from the bi-weekly mortgage payment. What is a weekly mortgage payment? A weekly mortgage payment is withdrawn from your account every week, totalling 52 payments per year. To determine the weekly mortgage payment amount, your monthly mortgage payment is multiplied by 12 months then divided by the 52 weeks in a year. What is an accelerated weekly mortgage payment? An accelerated weekly payment is withdrawn from your bank account every week. To determine the accelerated weekly mortgage payment amount, your monthly mortgage payment is divided by 4. Curious about which mortgage payment term is the best fit for your financial situation? I can help. Call today for your FREE consultation for expert advice! : www.marcomortgages.ca : (647) 960-1799 : [email protected]