Mortgage Tip: If you’re planning on moving before your mortgage term is up, you need to inform your mortgage expert about your plans. He will make sure that your mortgage is portable – meaning you can take it, along with your existing interest rate, to your new home without incurring any fees.
You also want to make sure that you don’t have to pay additional CMHC/Genworth premiums if your down payment is under 20% of the total purchase price.
