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What is your "Risk Tolerance?
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What are your Preferences?
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Recommended
Products and
Mortgage Terms
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| Low |
- Fixed payments for a set period of time
- Conservative
- Budget conscious
- May not take advantage of Prepayment Privilege(s)
- No rate or payment fluctuations
- Usually a first time homebuyer OR in the first third of your mortgage amortization (i.e. 1-10 years)
- Have a minimum of 5% downpaymen
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- Long Terms (3 - 10 years)
- Fixed rates/payments
- Closed mortgages
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| Medium |
- Fixed payments for a set period of time
- Somewhat conservative
- Will probably exercise prepayment privileges
- Prefer a shorter term (i.e. market/ rate awareness)
- No rate or payment fluctuations
- Probably in the middle of your mortgage (i.e. 7-15 years)
- Have some equity in your home (i.e. greater than 15%)
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- Short Terms ( 1 - 3 years)
- Fixed rates/payments
- Closed mortgages
- Adjustable/Variable rate Mortgages
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| High |
- High risk tolerance
- Watch market trends
- Want flexibility and options, i.e., option to pay down mortgage at any time, without penalty
- Rate fluctuations
- Payment fluctuations
- Know how to capitalize on payment privileges
- Have equity in your home - greater than 25%
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- Short, open terms (6 - 12 months)
- Variable rate mortgages
- Fully open
- Products related to Bank Prime
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