Determine the Right Term

The mortgage term is the length of time your mortgage agreement is in effect. In Canada, terms typically range from 1 to 10 years, with the 5-year term being the most common.

Shorter terms often have lower rates but require renewal sooner. Longer terms offer rate stability but may come with higher rates and penalties if you need to break the mortgage early.

I can help you determine the right term based on your plans and financial situation.