什么是“20+20”付款方式?

让我给您举一个例子：

假设您的贷款总额 (mortgage amount) 为：$300,000；

年利息 (annual interest rate) 为：4.0%；

付清年限 (amortization) 为：25 年；

贷款合同期限 (term) 为：5年；

您的月付款额(monthly payment) 应为：$1578.07；

第一个20是说您在每年中，可增加月付款额20%。 在本例中，您可增加$315.61 ($1578.07 X 20% = $315.61)， 这样新付款额为：$1893.68。

第二个20是说您在每年中，可多付您原贷款额的20%。在本例中，您可多付$60,000 ($300,000 X 20% = $60,000); 因为是原贷款额，您在这5年合同期限中，每年均有权多付$60,000。 但是，如果今年您没多付， 今年可多付的数目不可转移到下一年。也就是，在本例中，每年最多付$60,000， 不管上一年付没付。

您可一次付上这$60,000， 或分成多次付上。一般唯一的条件是，每次付款额必须超过$100。当然，不同贷款机构的要求会稍稍有所不同。

以上两种预付方式没有任何违约金 (if you increase your monthly payment by 20% per year and/or prepay 20% of your original mortgage amount per year, there is no prepayment penalty)。当然，有的银行允许25+25， 有的允许15+15。一般加拿大的贷款机构，都允许类似性质的预付计划。您可利用这种性质的预付计划，尽快多还上一些贷款，摆脱债务，获得解放。

很有趣的是，一般80%的顾客刚刚贷款的时候，都雄心勃勃，打算多付。而他们当中只有30%的人才真正去做，而这些人中，一般连10+10多付的标准都达不到。

贷款术语解释

Open vs. closed mortgage:
Open mortgage means you can pay out your mortgage without penalty, while if you pay out your closed mortgage, the lender usually charges 3 months' interest as penalty. The rate for open mortgage is higher than its corresponding closed mortgage, but if you are going to move during the term of the mortgage, this might be an option.

Variable vs. fixed rate:
Variable rate changes whenever Prime rate changes. The Prime rate, which in a sense is determined by Bank of Canada, currently is at 4.75%. For residential first mortgages, borrowers usually can get a Prime minus a discount rate. How much the Prime rate can be discounted depends on your credit score, employment stability, etc.

Term vs. Amortization:
Term determines the contractual obligation between you and the lender. For example, if you get a 5 year fixed rate at 5.24%， then the lender will commit this rate to you for 5 years, at the end of the term you have to renegotiate the mortgage with the original lender OR have the complete freedom to go to a different lender.
Amortization means how long it takes you to pay off your mortgage. Lenders need this piece of information to calculate your monthly payment. All conditions being equal, the longer the amortization, the larger mortgage loan you can get.
Amortization of 40 years does not necessarily mean you have to pay out the loan over 40 years. Most lenders in Canada allow borrower, at least , to prepay 15% of their original loan amount each year. Of course, you can pay out the mortgage entirely at the end of the term if you have already accumulated enough capital.