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  • Low interest car loan vs mortgage vs investment

    We are about to buy a home and because of the location we will need to buy a new car as well. The mortgage rate we have been quoted is under 3%. There are some cars with low interest financing (under 1%). Does it make more sense to put a bit more on the downpayment vs on ...

    • GooseAkuma
    • Feb 22nd, 2020 6:13 am
    • Forum: Personal Finance

  • Putting someone on the title to the house but not on the mortgage

    I am in Ontario and I'd like to know if its possible to put my spouse's name on the title to the house but not on the mortgage. Is this doable or do I need to refinance my mortgage and go through the entire process to qualify. He is self employed, less than two years and havent reported ...

    • Frin7091
    • Feb 18th, 2020 9:13 pm
    • Forum: Real Estate

  • Ottawa announces changes to mortgage stress test for insured mortgages

    ... to post it first - this effectively let you get about 30k more loans from the bank (B20 effective rate -1%): https://globalnews.ca/news/6564272/mortgage-stress-test-change-insured-mortgages/ However, this only applies to insured mortgages, where down pay < 20% and total home price < 1million. ...

    • fiddlewin
    • Feb 18th, 2020 4:20 pm
    • Forum: Real Estate

  • Mortgage and Change of Use

    Hi folks, I'm hoping I can get some advice on my current situation. Purchased a preconstruction home back in 2018 in Brantford, ON with the intention to occupy at the closing date. Closing is in a few months, however I recently landed a job in Scarborough and my wife is also currently on the job hun...

    • Pursuit2013
    • Feb 18th, 2020 3:53 pm
    • Forum: Real Estate

  • Changes to Mortgage Stress Test

    Have a look: https://www.bnnbloomberg.ca/morneau-unveils-new-insured-mortgage-stress-test-rate-1.1391996 https://www.ratespy.com/dof-announces-new-benchmark-rate-for-canadas-insured-stress-test-021811865 TL;DR: looks like stress test rate will be coming down ...

    • ahlaker
    • Feb 18th, 2020 2:40 pm
    • Forum: Real Estate

  • Converting HELOC to Mortgage & selling house.

    Hello Folks, When i got the mortgage from the bank i was given a mortgage + HELOC. Later on i converted the HELOC to a mortgage too which means now i have 2 Mortgages. My Question is what happens when i sell my house, Would i loose both ...

    • hammadarif
    • Feb 13th, 2020 12:05 pm
    • Forum: Real Estate

  • Pay off mortgage with no penalty before renewal

    How many months before renewal one can pay off the entire mortgage balance with no penalty?Apparently you have 120 days before renewal to secure a new mortgage term/rate, but how about just paying everything off?

  • Income tax and shared mortgage on investment

    Looking to purchase a condo for rental.If 2 family members are on the mortgage and title, do both have to claim income on their tax return annually or can one claim only?Reason for 2 family members since one may not qualify for mortgage on their own.Any advise would be appreciated.

    • Navon01
    • Feb 11th, 2020 7:45 pm
    • Forum: Real Estate

  • Mortgage for Canadians with non-resident co-applicants

    ... for a US company since 2015, and file tax returns in both the US and Canada. - We’re interested in purchasing our first home (we don’t have any mortgages in US or Canada), which will be owner-occupied. - We have minimal debt. - We wish to have my parents (US citizens with excellent credit and ...

    • frozenbb
    • Feb 11th, 2020 1:13 pm
    • Forum: Real Estate

  • Mortgage timeline for a pre-construction condo purchase

    ... a pre-construction condo in 2018, and the move in date is now approaching. I have a couple of questions about the timeline for getting the mortgage approved. 1. Assuming the move-in date is October 1st, 2020, and there's a few months of interim occupancy before the closing date, when am ...

    • cristitane
    • Feb 10th, 2020 2:45 pm
    • Forum: Real Estate

  • Mortgage

    Hi, I am closing for a new built home in Ottawa in June 2020 and need to know what is the best interest rate for 5 years fixed? and if someone has an offer?

    • Minass
    • Feb 9th, 2020 9:55 pm
    • Forum: Real Estate

  • Do i have to get mortgage if selling pre con

    Hi i have a pre con coming in hand early next year. Just want to know do I need to get mortgage if plan to sell right away once builder hand over. At that time I need to get mortgage but if I sell do i need to get a mortgage in place before selling. I know will be 50 percent cap gains.

  • Mortgage refi. Should I accept collateral charge? Should I take the full amount they're offering?

    Hi, I'm refinancing/blending my mortgage, adding $41,000 in debt to my $225,000 mortage with Meridian against a $500,000 house. (Figures are in the correct ratios but not real- changed for privacy). They will blend my 5 year closed mortgage ...

    • bschnarch
    • Feb 2nd, 2020 11:33 am
    • Forum: Real Estate

  • Construction Mortgage - Vancouver BC

    Any one know the best rates we can get for Construction Mortgage in Vancouver-BC?

    • ankurfree
    • Feb 2nd, 2020 3:53 am
    • Forum: Real Estate

  • RBC & CIBC Mortgage Specialist (GTA)

    Hi All! Hoping someone can help me out. I'm finally able to look into purchase a detached home in Toronto/GTA (lol). If anyone knows of a fantastic mortgage specialist that they could recommend from RBC or CIBC I'd greatly appreciate it! If they speak chinese that would be a bonus for my parents. ...

    • xchococatx
    • Jan 31st, 2020 11:03 pm
    • Forum: Real Estate

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