Working with a team of professionals, a REALTOR can help you save money on the purchase of your new home, while a mortgage broker can help you save money over the life of your mortgage.
Any extra payments you make, whether monthly or annually, will significantly reduce your interest cost over the life of the mortgage and you will become mortgage free sooner!
While it may be difficult to make extra payments in the initial years of home ownership, consider rounding your payment up. You will be surprised at the difference it makes over the life of the mortgage.
If you reduce the amortization on your mortgage, you payment will go up but you will save thousands over the life of the mortgage.
Not all banks are the same. Work with a mortgage broker who will negotiate the best rate for you.