Mortgage Options

Mortgage Options

Prepayment Privilege

Definition: Percentage allowed to make additional payments without penalty

Benefit Reduce interest costs over the term, saving you thousands of dollars

Portability

Definition: Moving your mortgage to your next home

Benefit: Saving potential penalties while continuing on with your current interest rate

Assumability

Definition: Transfer the mortgage to someone else

Benefit: Allow a potential buyer to benefit from a low-interest rate

Home Warranty

Definition: Insurance on HVAC systems

Benefit: Saves you potential repair and maintenance costs

Contact your Pineapple Mortgage Agent or Broker for more information on the home-buying process and what else you need to consider when purchasing a property!