Paying my mortgage
Can I adjust my mortgage payment schedule?
Absolutely. You can make adjustments to your mortgage payment schedule by accessing your account online.
Log in to your QuestMortgage account > Click on your mortgage account from the account summary page to access your online QuestMortgage account. > Below, you'll see "Change payment frequency."
Right now, only the primary borrower can access the portal.
What is a prepayment and how does it work?
A prepayment is an extra payment you can make on your mortgage. You can make a prepayment in two ways with QuestMortgage:
- By making a lump sum payment in addition to your regular mortgage payments (of up to 20% of the original mortgage balance at the start of the term, per anniversary year)
- By adding to your regular existing scheduled payments (up to 100% of the original monthly payment).
Choosing a mortgage provider with better prepayment privileges can help you save on interest and ultimately help you pay off your mortgage faster.
How are prepayment charges calculated?
Prepayment charges apply when you are paying the mortgage out in full. The amount is determined by a couple of factors and vary for fixed-rate closed and variable mortgages.
If you're an existing QuestMortgage customer, you can estimate your prepayment charge using the prepayment charge calculator and you can read about how prepayments work.
You can also call our team of dedicated Mortgage Advisors for assistance at any time at 1.888.909.5588.
When would I have to make my first mortgage payment?
Your first payment date will depend on the funding date you selected during the application process.
The letter of commitment you'll receive will also include a summary, including the funding date and first payment date for your reference.