5 Proven Ways Canadians Can Save Thousands on Their Mortgage in 2025

Refinance Your Mortgage for Better Rates: Explore current low-interest rates and how refinancing could lower your monthly payments, saving you thousands over the life of your loan.

  1. Leverage Government Programs: Learn about Canada’s First-Time Home Buyer Incentive and the Home Buyers' Plan (HBP) to reduce the upfront cost of buying your home and ease your mortgage burden.

  2. Take Advantage of Prepayment Privileges: Discover how making extra payments on your mortgage, even if it's just a small amount each month, can reduce your principal and save you big on interest.

  3. Fixed vs. Variable Rates: What’s Best for You? Understand the pros and cons of each mortgage rate type and how choosing the right one can impact your savings in 2025’s changing market.

  4. Utilize a HELOC to Manage Mortgage Debt: Find out how a Home Equity Line of Credit (HELOC) can help you access lower-interest credit to pay down higher-interest mortgage debt faster

Previous
Previous

The Ultimate Guide to Navigating Canada's Mortgage Market in 2025

Next
Next

To pay off your mortgage 5 years faster in Canada