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Why U.S. And Canadian Mortgages Work So Differently

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Manage episode 466631567 series 2364153
Content provided by Walter Monteiro. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Walter Monteiro or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

Why U.S. And Canadian Mortgages Work So Differently

Ever wondered why U.S. home buyers can secure a 30-year fixed mortgage, while Canadians typically renew every five years? In this video, we dive into the unique structures of Canadian and American mortgage systems, focusing on interest rate risks, tax implications, and equity growth. In Canada, lenders prefer shorter terms to manage rates, unlike in the U.S., where government-backed institutions like Fannie Mae and Freddie Mac support 30-year terms. U.S. homeowners enjoy tax-deductible mortgage interest, while Canadians benefit from tax-free profit on the sale of a primary residence. This encourages faster equity growth in Canada, despite fewer refinancing options. For Canadian buyers curious about mortgage differences, watch to understand how Canada's system promotes stability and builds equity quickly. For more questions on Canadian mortgages, reach out – we’re here to help! Thank you for watching. Let us help you with your real estate and mortgage needs. We serve the Cambridge, Kitchener, Waterloo, Guelph and Brantford areas. Check out our website at http://www.maximumresults.ca

  continue reading

184 episodes

Artwork
iconShare
 
Manage episode 466631567 series 2364153
Content provided by Walter Monteiro. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Walter Monteiro or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

Why U.S. And Canadian Mortgages Work So Differently

Ever wondered why U.S. home buyers can secure a 30-year fixed mortgage, while Canadians typically renew every five years? In this video, we dive into the unique structures of Canadian and American mortgage systems, focusing on interest rate risks, tax implications, and equity growth. In Canada, lenders prefer shorter terms to manage rates, unlike in the U.S., where government-backed institutions like Fannie Mae and Freddie Mac support 30-year terms. U.S. homeowners enjoy tax-deductible mortgage interest, while Canadians benefit from tax-free profit on the sale of a primary residence. This encourages faster equity growth in Canada, despite fewer refinancing options. For Canadian buyers curious about mortgage differences, watch to understand how Canada's system promotes stability and builds equity quickly. For more questions on Canadian mortgages, reach out – we’re here to help! Thank you for watching. Let us help you with your real estate and mortgage needs. We serve the Cambridge, Kitchener, Waterloo, Guelph and Brantford areas. Check out our website at http://www.maximumresults.ca

  continue reading

184 episodes

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