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MJK · 05-21-2009, 07:04 AM

Hello, advice needed please.

I can get a 5 year fixed rate of 3.75%. Down payment of $11,000.

Basically I want to know what is the best, smartest way to do a mortgage. Should I do 25 years, 25 year amortization, make extra payments...?

Basically I am buying a home in Newfoundland but I will be staying in Nunavut for two more years. I want to pay off as much as possible in the two years as I can.

THanks!

05-21-2009, 07:04 AM	#1
MJK Franchise Player Join Date: Jun 2003 Location: N/A Exp:	Mortgage Advice Hello, advice needed please. I can get a 5 year fixed rate of 3.75%. Down payment of $11,000. Basically I want to know what is the best, smartest way to do a mortgage. Should I do 25 years, 25 year amortization, make extra payments...? Basically I am buying a home in Newfoundland but I will be staying in Nunavut for two more years. I want to pay off as much as possible in the two years as I can. THanks!