Mortgage 101: Info Session


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Date(s) - 26/10/2019
2:00 pm - 4:00 pm

Sanderson Library


Learn about mortgage basics, the pre-approval process, and what banks don’t usually tell you. This workshop is second in the series for Home Buyers followed by Understanding Your Credit Score & Report Workshop on Sat, November 2, 2 – 4pm.

– What is a mortgage and the different types available
– Terminologies (Down payment, amortization, interest, principal, fixed & variable interest rates, equity line)
– A mortgage broker and the major banks: Who is doing what? Should you shop for rate or terms?
– The pre-approval process and how to prepare your credit rating in advance
– The Mortgage Act: Your rights and responsibilities
– Mortgage Renewals– Don’t just sign them!
– Other costs and factors to consider (mortgage term insurance vs life insurance, recent changes…etc)

To register, please contact Stanley 647-404-8857.
This is a Library Settlement Partnerships (LSP) program workshop, co-sponsored by Immigration, Refugees & Citizenship Canada, CultureLink and Toronto Public Library.