Tel. 416 873 6660
Fax 905 785 3675
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Brokerage # 10500
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Blend and ExtendA closed mortgage can often be "opened" for the purpose of extending the term. Most lenders will blend the penalty for breaking (usually an Interest Rate Differential) with the rate for the new extended term. The idea is to get a lower rate and protect against rate increases in the future. |
