The Mogo Blog

Buying a home is one of the best investments you can make and a super exciting milestone. But, your 25 year mortgage amortization period can sometimes feel like a life sentence.There’s actually a lot of ways you can pay it off faster - without sacrificing your other money and life goals in the meantime. Putting extra money towards your mortgage means huge interest savings and being mortgage-free faster. And, who doesn’t want that. Set up bi-weekly payments Once you have your monthly mortga

Meet Sean Cooper, he paid his $420,000 Toronto mortgage off in 3 years before he turned 30, and then wrote “Burn Your Mortgage” to tell his story. How did he do it? Not gunna lie, he took some pretty extreme measures. He lived in the basement of the house and rented out the rest of the house. He lived super frugally and cooked all his own meals - hooray for KD! He also took 2 extra jobs, working around 100 hours a week, and rode his bike everywhere.Sean’s story is super crazy and super cool. It’

Buying a home is one of the biggest and most important investments you’ll make in your life (did someone say adulting?). It’s still the single largest source of savings for Canadian households, since every payment you make builds equity. If buying a home is in your 5 year plan, there’s some key steps you should take to make sure you reach your goal and get those dream digs. Know your current credit score and improve it You might not realise how much your credit score matters when buying a ho