I purchased a property that i just ended up hating so i knew i wanted to sell by the time my mortgage term ended. But maybe i made a mistake with the timing? There is about a 3 week difference in the closing date & mortgage term expiry date. During these awful two years, i inherited two other properties and moved into one of those. So i will not be porting the mortgage, straight termination.
Mortgage amount owing at maturity: 330k
Monthly Mortgage Payment: $1343, 2.29% fixed
Original purchase date (month and year): April 19/2017
Mortgage Maturity date: April 19/2019
Current lender: Scotiabank, conventional
Did you pay an insurance premium such as CMHC when you purchased the home? (meaning you had less than 20% down payment): No
Did you refinance your mortgage since you owned your home? If so, what was the year and month when you did the refinance? No
Do you have a second component such as a HELOC attached to your mortgage? No
Closing date: March 29/2019
Anyways, i hope i don't get penalized too harshly for 3 weeks difference. I don't even mind paying off the final month, but i doubt they'll let me.