Fast Track to Mortgage Free

Did you know that a mere $30 extra with each of your monthly mortgage payments could save you about $11,000 over the life of your mortgage? When you add it up that’s roughly what you spend for your medium double double everyday. With good planning and a few smart tactics you can fast-track to a life that is mortgage-free.

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Let’s say you have a $125,000 mortgage at six per cent interest amortized over 25 years:

  1. Increase your monthly payments. If you can afford $1,000 per month but your mortgage only demands $800 per month, make a payment of $1,000 instead. You’ll shave 8.75 years and almost $46,000 off your total interest costs.
  2. Take advantage of lower rates. In addition to reducing the overall interest component of your mortgage, you can pay the principal down faster.
  3. Accelerate to bi-weekly payments. With more frequent payments you can fit in an extra payment each year and be mortgage free four years sooner with almost $22,000 in savings.
  4. Use any bonuses, tax refunds or “found money” to pay down principal. This is especially valuable in the early years of your mortgage. If you receive an annual bonus or other lump-sum compensation, see if you can put it against the principal.
  5. Consolidate your loans into a new mortgage and use the savings to boost your payments. If you’re a homeowner with some equity, use your mortgage to consolidate your other loans. Add the money you’ve been spending on loan payments to your mortgage payments to see big savings in overall interest.


You can find to the left our current mortgage rates.  Although we make every attempt to keep these rates as current as possible, the quickly changing landscape of our industry means that these rates are not always up to date.

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It is also important to understand that there are quite often “promotional” rates that are available under certain circumstances.  Because these rates are not available to everyone, we do not publish these rates.  It is imperative of you to talk to one of our mortgage professionals to see if your particular circumstances will fit into one of these special rates.


When you take the time to sit down with a mortgage professional, we will illustrate that the lowest rate is quite often not the best deal available.  All lenders have different conditions attached to their mortgage offer.  For example the lowest rate published on a random internet site at any one time may have serious conditions attached to it such as a sale clause to pay off the mortgage before maturity.  It is our job to show you the pros and cons of each offer and help you decide which structure is the best for you personally.

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