RLC Properties

💡 Ever heard of AMORTIZATION? Let’s break it down!

When you buy a home, you typically don’t pay off the loan all at once. Instead, amortization lets you pay it off little by little over time. Most mortgages in Canada are spread over 25 years, but here’s the big news: First-Time Buyers now have the option to stretch that to **30 years**! 🙌

What does that mean for you?
✨Smaller monthly payments✨

‼️BUT‼️
Since you’re taking longer to pay, you’ll end up paying more in interest over time.

So, it’s a trade-off: lower payments each month, but a higher overall cost. 🤷‍♂️

Would you go for the 30-year option?

👇🏻Drop a comment below!👇🏻