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Thread: Latest Best Mortgage rates
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Mon, Aug 31st, 2015, 01:26 AM #91
@MortgageQueen , thanks for sharing such useful information for the newbies who are looking forward to take on mortgage loans.
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Mon, Aug 31st, 2015, 01:26 AM #92
@MortgageQueen , thanks for sharing such useful information for the newbies who are looking forward to take on mortgage loans.
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Mon, Aug 31st, 2015, 10:53 PM #93
@graceallen , Your Welcome! although I doubt any of us "look forward" to a mortgage. Lol!
A necessary evil I suppose, but might as well be smart about getting the best one, right?
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Tue, Sep 1st, 2015, 06:39 AM #94
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Wed, Sep 2nd, 2015, 08:26 AM #95
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Just renewed with tangerine for prime - 0.7%. Very happy. That translates to I am now paying 2%. Yea!
Sent from my iPhone using TapatalkJust joined Kiva.org, an organization that funds micro-loans to people in developing countries. I love the idea that the $25 I saved in groceries can be given to a fish woman with 5 children in the Philippines to help grow her business.
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Thu, Sep 3rd, 2015, 11:25 PM #96
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Mon, Oct 5th, 2015, 05:53 PM #97
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do they still have the 0 down
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Mon, Oct 5th, 2015, 08:46 PM #98
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If you're looking for a no money down ("zero down") mortgage, you're in for some bad news: these mortgages are no longer available in Canada. As of September 2012, the minimum down payment is 5% and there is no way around this. Thankfully, there are still alternatives (such as using your RRSP as a down payment), which we'll go into below.
- Cut your costs and save up
Think about all of the things you buy on a regular basis and build a budget around that. Just keep in mind that every dollar you save every month is multiplied by 12 months in a year, and multiplied again by every year you save it. Think long term: A $2 coffee every day before work equates to $2,600 over five years, and a $400 car lease is $24,000 in the same time. - Sell your assets
Take a look around your current residence. Put a price tag on everything, and sell the things you don't absolutely need. You might be shocked to see just how much stuff you have, and how much can be sold on Kijiji, Craigslist, or at a garage sale. Here's another point: owning less stuff makes it easier to move!
Source: https://www.superbrokers.ca/library/...mortgages.phtm
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Tue, Oct 6th, 2015, 01:18 AM #99
No. But you can still get a cash back mortgage as long as you still have your 5% down payment. I personally don't recommend this type as the cost is really just built in.
You can use gifted funds from immediate relatives, rsp's as beachdown mentioned, and in some cases borrowed funds.
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Tue, Oct 6th, 2015, 10:26 AM #100
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So 5% of that 500k plus house I am eyeing N-W of Toronto
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Tue, Oct 6th, 2015, 10:38 AM #101
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Put 20% down at least. CMHC fees suck!
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Tue, Oct 6th, 2015, 11:59 AM #102
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True that...however, some people like to go way over their heads in order to keeping up with the Jone's buying bigger houses, and to post of Facebook for "likes". Meanwhile behind close doors they are hurting
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Tue, Oct 6th, 2015, 01:08 PM #103
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Tue, Oct 6th, 2015, 11:19 PM #104
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Wed, Oct 7th, 2015, 07:36 AM #105
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