April 24 2019
Open sounds better than closed, but which one is right for me?
Open mortgages, as opposed to closed mortgages, have completely flexible options to increase your monthly payments by any amount, or you can pay off the entire mortgage at any time you choose, without incurring any penalty from your lender.
You are close to paying off your entire mortgage (near the end of your amortization)
You are flipping the house you purchased
You are only going to live in the home for a short period of time
The best thing you can do for yourself is to work with us to find the perfect mortgage that will suit your needs. We will look at the whole picture and evaluate your situation so that not only are you placed in the best mortgage, but just as importantly, you understand why exactly we recommend the mortgage we do. At Homewise, we are as equally focused on suitability and cost savings as we are on education so that you feel completely comfortable at the end of the day.
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