What are mortgage prepayment options, and should I use them?

Mortgage prepayment options are ways to make additional payments toward your loan principal and thereby pay off your mortgage before the end of your amortization period. Biweekly and weekly payments are just some of the mortgage prepayment options available in Canada. Generally speaking, you should use mortgage prepayment options if you have the income needed to make additional mortgage payments and have paid off all of your consumer debt.

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