How should I structure my mortgage payments?

Remember, you have lots of options and a lot of it depends on your financial situation, cash flow and what is in your best interest. Your mortgage specialist will discuss with you things like amortization, selecting a fixed or variable term mortgage and the implications of going with a 3, 4- or 5-year mortgage term.

PRO TIP: When selecting a mortgage product that’s right for you, it’s all about balance. A 3-year mortgage term may offer you a lower interest rate, but your payments are likely to be higher. Alternatively, 5-year terms tend to carry a higher interest rate. Be sure to ask your mortgage specialist about special promotional rates – everything goes on sale sometime!