Harpreet’s perspective
Real questions. Real properties. Real numbers.
People ask me: ‘Harpreet, fixed or variable?’ Usually they're hoping I'll answer with one word. Unfortunately, I have questions.
How long are you planning to keep the property? How comfortable are you with payment or rate changes? What's happening with your income? Are you likely to sell? Refinance? Move? Is this your home or an investment property?
Which Structure Fits You?
Because the question isn't: ‘Which mortgage is better?’ It's: ‘Which structure makes more sense for you?’
A fixed-rate mortgage can provide more rate certainty for the term. Variable-rate products behave differently and can expose you to changes in interest rates, depending on the mortgage structure.
Your Comfort Matters Too
One person may happily accept uncertainty for the features or strategy they're pursuing. Another person will check interest-rate news at 2:00 a.m. and ruin their entire week. That matters too.
Your mortgage should work financially. It should also let you sleep.
Choose With Information
We'll compare the options, understand the terms and look at what could happen under different scenarios. Then you decide with information instead of choosing whichever mortgage the internet is arguing about this week.