I want to know about the benefits and risks of hybrid mortgages. In my search, I came across many pros cons of a hybrid mortgage. But, what I want is the opinion of experienced people.
How can we decide whether we are fit for a hybrid mortgage? Is it decided by the lenders or can we apply for one? Can the companies offer hybrid mortgages in Canada help us in making the final decision?
As a combination of variable rate and fixed rate mortgage, does anyone know how this hybrid mortgage work? Reply awaited. Thanks in advance!