Category: Mortgages and interest rates

Property investment tip 40: Should you apply for a second mortgage with your current lender or a new lender?

Should I apply for a second mortgage with my current lender? Or, should I apply for a second mortgage with a new lender? These are two common questions many new investors ask themselves before buying their next investment property. Before you decide, there are two key factors which will significantly impact your decision: your residency status and your credit history....

Property investment tip 33: Interest-only mortgage or a principal and interest (repayment) mortgage: Which is better?

When you purchase a property, there are two types of mortgages you can select from: an interest-only mortgage or a principal and interest mortgage, which is also known as a repayment mortgage in some countries. Interest-only mortgage or a principal and interest mortgage? ‘Principal’ is the amount you borrow from the lender. For example, I buy a $100,000 house with...

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