did you know...

One of the most important features to look for when you’re obtaining a mortgage could very well be prepayment privileges. Having a prepayment privilege that works to your specific needs could mean the difference of thousands of dollars over the life of your mortgage. Although many lenders offer some form of prepayment privilege, the amount and how it can be applied varies from one to another. Some only offer up to 10%, once per year, and on the anniversary date, while others offer as high as 20% per year, and prepayments can be made throughout the year as long as the total does not exceed 20%. Many mortgage shoppers often get so caught up in the rate debate that they overlook this interest-saving feature. A Mortgage Borker can help determine the best mortgage features to meet your unique needs!