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Fixed rate mortgages offer stability but reduce flexibility for prepayments or selling compared to variable terms. The mortgage stress test requires all borrowers prove capacity
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Specialty mortgage options exist like HELOCs and readvanceable mortgages to allow for accessing home equity. The payment frequency choice of accelerating installments weekly or biweekly
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Canadians moving may port their mortgage to a new property if staying with all the same lender. Closing costs like attorney’s fees, title insurance, inspections
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First-time house buyers with steady employment may more easily qualify for low advance payment mortgages. First Nation members on reserve land may access federal mortgage
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