A regularly scheduled payment, often called a blended payment, includes both principal and interest. This type of payment structure ensures that you gradually pay down the loan amount (principal) while also covering the cost of borrowing (interest). Blended payments are common in mortgages, making it easier to manage your finances by combining these two components into a single, consistent payment. This approach helps in systematically reducing the loan balance over time.

*The information provided is for educational purposes only and should not be considered legal advice. For specific legal concerns or questions related to your mortgage, it is always best to consult with a qualified legal professional.*

Mortgage Education

  • Total Debt Service Ratio (TDS)

    The percentage of gross income allocated for payments of principal, interest, taxes, and heat (P.I.T.H.), along with other debt obligations, [...]

  • Title Insurance

    Title insurance protects property owners and lenders from financial loss due to defects in the title of real property. These [...]

  • Understanding Mortgage Interest in Canada

    Navigating the world of mortgages can be complex, especially when it comes to understanding how interest rates impact your home [...]

  • How Much You Need for a Down Payment in Canada

    Buying a home is a significant milestone, and one of the first steps in this journey is understanding how much [...]

  • Paying Off Your Mortgage Faster

    >Getting a mortgage is a significant step toward homeownership. However, the process can seem complex and overwhelming. This guide will [...]