In this conversation, I share my journey with host Robin Speziale of paying off my mortgage in just over three years and discusses various strategies for home buyers in Canada. I highlight the importance of understanding mortgage types, the current challenges in the real estate market, and the role of mortgage brokers compared to banks. I also provide insights into government incentives for first-time home buyers and offers practical advice for navigating the mortgage landscape.
KEY TAKEAWAYS:
- How I paid off my mortgage in just over three years
- Living frugally and taking on side hustles helped me save
- Lump sum payments significantly reduce mortgage principal
- 60% of Canadian mortgages are up for renewal soon
- Variable rate mortgages are becoming more popular again
- Working with a mortgage broker can provide better options