Confused by different mortgage terms?
BREATHE easy. The help you need is right here.
Purchasing a home is a smart investment. Yet whether you are buying a home, refinancing or simply renewing, the mortgage you choose is an important decision. Working with an independent mortgage professional is the first thing you can do to ensure the process is simple, convenient, and in your best interest.
SWITCH:
This is the term almost universally applied to changing lenders at the end of a term, when the mortgage becomes "open". Most lenders will now pay all of the costs of a "switch." (as well as giving them a reduced rate to lure them away from a competitor)
Use our Mortgage Terms Glossary to learn more about mortgages and the process you’ll go through to obtain one.
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