• Last Updated:
  • Aug 15th, 2019 9:15 pm
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[OP]
Newbie
Aug 14, 2019
1 posts

Help-money shuffle

Just finished building our new house old house hasn't sold yet so we need to do some money shuffling

current MBNA (.99%) is at 20k- 10k due sept 10 k due in January (past due dates rate goes to 22%) - if we pay this off we can retransfer the balance (up to 20,00) back onto the MBNA and continue to pay .99% until next July
RBC Avion is at 10k at 19%
need to purchase 7k worth of stuff for new house

we are currently approved for 19,500 5 year variable rate loan over 5 years is $187.83 biweekly (rate of 5.94%) and
$17000 Royal Line of Credit with an interest rate of 8.95%

looking for advise on best approach to shuffle the $ to get through until the house sells i.e. pay the MBNA off with the loan or line retransfer back from either and put the rbc credit card and the 7 k for new purchases on the line or loan.

pretty confusing, any help/advise appreciated
1 reply
Deal Addict
Apr 6, 2008
1761 posts
1071 upvotes
Just get a bridge loan. Happens all the time with houses, interest only payments for a few months. Probably be a few hundred when everything's said and done.

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