Talk:Mortgage

Cleanup needed

Tagged for Cleanup because there are missing sections, and "The Dream" section is too folksy for a developed finiki article. Seems like leftovers from original creation of the article. A comprehensive review and editing might be helpful. --Peculiar Investor 12:00, 5 December 2013 (MST)

Completed in March 2014--Peculiar Investor 09:53, 20 December 2014 (MST)

Reader feedback: Frequency of mortgage paymen...

68.151.202.218 posted this comment on 19 August 2014 (view all feedback).

Frequency of mortgage payments - this part is like smoke and mirrors. With monthly payments you pay $6979.20 a year and with weekly you pay $7,560.80 a year. While I can agree that it can be beneficial to accelerate payments this section is not accurate.

Any thoughts?

Peculiar Investor 17:16, 19 August 2014 (MDT)

Mortgage terms section to do's

There is an opportunity to improve the Mortgage terms section to include things like Term vs. Amortization. Lots of information in Buying your first home: Three steps to successful mortgage shopping and How to save for a house under tighter mortgage rules - The Globe and Mail. If another editor doesn't take up the challenge, I've got it on my January 2015 to do list. --Peculiar Investor 09:50, 20 December 2014 (MST)

Mortgage broker vs. bank specialist

This section is copied entirely from here, typos and all. The contents shamelessly promote mortgage brokers. A better balance is needed. --Quebec 17:00, 1 February 2015 (MST)

I found a few more for you.

• The pros and cons of using a mortgage broker
• Bank vs. Mortgage Broker, contains a clear table of pros and cons
• Canadian Association of Accredited Mortgage Professionals (CAAMP), a credible source for Canadian mortgages. You mention them briefly, but it deserves a detailed explanation. The site contains a lot of helpful "basic" info. Also note the Mortgage Calculators

--LadyGeek 18:46, 2 February 2015 (MST)

DoneI've used the ratehub comparison table, which was much more balanced (with a few modifs). Some information from CAAMP could still be added somewhere. --Quebec 06:49, 4 February 2015 (MST)

I put the information under "External links" --LadyGeek 18:42, 4 February 2015 (MST)

Mortgage prepayment options

What is the intent here? Is it something like "Prepaying principal is a good idea because..."? You can prepay principal on most US mortgages. Is it any different in Canada? --LadyGeek 18:16, 19 March 2015 (MDT)

People interested by prepayment options have to be careful when they shop around for a mortgage (remember, we do this every five years or less in Canada), because the details of how much you can repay, and how frequently, vary from lender to lender. One lender may offer a great interest rate, but has limited prepayment possibilities, whereas the other lender charges a little bit more interest but allows 20% repayments every year, for example. --Quebec 05:30, 20 March 2015 (MDT)

I didn't know that, thanks. The Canadian terms of "two to five years being the most common" (Terms) requires a very different way of thinking. I'll hold off making comments, as this is not something I'm familiar with. --LadyGeek 19:55, 20 March 2015 (MDT)