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Need some financing advice. Should I put down 20% downpayment on a house (@2.6% mortgage interest) and avoid cmhc fee or 10% downpayment on a house with $16,000 cmhc fee + pay off my car loan ($53000 @ 5.2% interst rate)?TIA
With the low interest rates we pay these days, is it sensible to pay off your mortgage faster? I just signed 2 year fixed at 2.09%. Or should I first use my RRSP / TFSA / RESP and buy some funds that would give at least 5% in the long run? What's the better option and why?
BMO last week, Sunlife this week, its getting louder lately....https://www.bnn.ca/toronto-housing-market-heading-off-a-cliff-sun-life-s-adatia-1.678530http://www.mortgagebrokernews.ca/news/analysts-weigh-in-on-recent-toronto-market-developments-221633.aspx
... thought is if they sell at 500,000, and buy a new home at 400,000, they would have a 200,000 gain (before taxes, transfer tax, etc) that could pay off the debt, slightly reduce their monthly mortgage payment, and even get a much larger detached home, upgrading them from their semi. They are very ...
Oct 23rd, 2016 9:24 am Pay off mortgage with line of credit? Newbie here on this forum and looking for some expert advice. We have a mortgage of $32,000 just renewed in march with an amortization of 2.5 yrs and a line of credit of $32,000. ...
... like to consolidate and have one payment. Would it be feasible to roll the loc into the mortgage and change the amortization to say 4 yrs or pay off the mortgage with the loc? Thanks in advance.
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