Jump to main content

Demystifying Mortgages

Are You Ready to Buy a Home?

This funny yet informative video gives you the knowledge you need to make informed decisions about your homeownership journey. Discover the truth about interest rates, APRs, fixed-rate vs. adjustable-rate mortgages, and amortization schedules. After watching the video, be sure to explore the additional resources on this page for more in-depth information and tools to help you navigate the home-buying process.

 

Buying a home is likely the biggest purchase of your life, and you'll usually need a loan to make it happen. Comparing mortgages can be confusing and intimidating - let's break it all down so you can understand how it works. When shopping for a mortgage, financial institutions have products with an advertised APR, which stands for Annual percentage Rate. But the APR doesn't tell the whole story - make sure to understand the type of mortgage being promoted. Plus, there are a wide range of additional costs to consider, including insurance, taxes, admin fees and any penalty fees that may apply.

You'll need to decide between a fixed-rate and an adjustable-rate mortgage.

How does the mortgage repayment work?

Understand before you sign

View Infographic

Ask Yourself

Owning Vs. Renting

Contact Us

Shared Branch
and ATM Locator

Access to over 30,000 surcharge-free ATMs and 5,000+ shared branches. Find one near you!