Blog categorized as Mortgage Education

The FHSA lets first‑time buyers save for a home with tax‑deductible contributions and tax‑free growth. Learn limits, eligibility, withdrawals, and how it pairs with the HBP.

APR reflects the true cost of borrowing by including interest plus all mortgage‑related fees. Learn how APR differs from interest rate and why it matters.

An appraisal provides an unbiased property valuation for lenders, helping assess risk, confirm collateral value, and determine loan‑to‑value ratios.

Prepayment penalties are fees charged when you break a mortgage early. Learn IRD, 3‑month interest, fixed‑rate penalties, and why lenders charge them.

Refinancing can lower rates, change your term, or access equity—but penalties, fees, and long‑term interest costs must be weighed carefully.