• Lemmeenym@lemm.ee
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      2 months ago

      Mortgage payments cover insurance and taxes in addition to the mortgage itself. Unless you have a variable rate mortgage the portion of the payment going to the loan doesn’t change but the amount needed to cover taxes and insurance can.

      • SynopsisTantilize@lemm.ee
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        2 months ago

        Oh okay. So I could just include the other charges when I say mortgage here in the states and I could say the same thing then.

    • howrar@lemmy.ca
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      2 months ago

      I think it’s typical to get a 5 year contract and having to renegotiate a new mortgage at the end of said contract. At least, it is here in Canada. Rate goes up, monthly payment goes up.

        • howrar@lemmy.ca
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          2 months ago

          They exist, but from what I hear, they’re very hard to get. I would’ve loved to get 30 years with the interest rates I had five years ago.