All Questions
71
questions
-1
votes
1
answer
2k
views
Is there a Fannie Mae and Freddie Mac for Canada
In the Open Yale Financial Markets Course, Prof Schiller
says at 57:40 that Canada Housing Mortgage Corporation is same as Fannie Mae/Freddie Mac.
Are there any differences? Can I buy CHMC shares ...
- 16k
-2
votes
1
answer
107
views
What is the use of mortgage insurance premium paid to CMHC
When I bought my condo, because I could only put down 10%, so I had to pay CMHC (Canada Mortgage Housing Corporation) insurance premium (about 12 000 dollars I believe but I could be completely wrong ...
- 16k
2
votes
1
answer
106
views
How a mortgage backed security fluctuates
If I buy a mortgage backed security, what will happen to my investment if:
The person that took out the mortgage defaults
The person makes a prepayment
The person refinances
The bank that gave ...
- 16k
3
votes
1
answer
467
views
What is a cash back mortgage and should I consider using one?
In speaking with a mortgage adviser recently, I found out about cash back mortgages. I was wondering if someone here knows about this and could tell me if they are a good idea?
To give you some ...
- 183
2
votes
1
answer
228
views
Transfer mortgage between two different properties without penalties
Can a mortgage be transferred to purchase two different properties without penalties? I live in BC Canada.
- 21
-2
votes
2
answers
880
views
Why are mortgage interest and taxes considered tax deductible?
I have trouble understanding the rationale behind why certain things are tax deductible while other things are not. For example, I understand that RRSP contributions are tax deductible because I am ...
- 16k
5
votes
1
answer
234
views
Loan from Canada to UK
I live in Canada. My brother in the U.K. is thinking of purchasing a house with his wife. They are both teachers and careful with their money but don't yet have money for a down-payment.
I am ...
- 14.1k
8
votes
1
answer
473
views
Pay off debt with RRSPs, or refinance and roll into Mortgage?
A few years of a combination of under-employment and trying to keep afloat a floundering business has left me (us) with 50k debt on a line of credit and a credit card. We are getting 5k back from ...
8
votes
2
answers
496
views
Cash out retirement account or sell and downsize the house to pay off line of credit?
I am in my mid 40's and I have an outstanding secured line of credit with a large balance that I want to clear.
I can only come up with 2 scenarios to clear this amount based on my home equity and ...
- 81
2
votes
4
answers
428
views
Whether to prepay mortgage or invest in stocks
If at the end of the year, I have 10k in hand that I want to save/invest and these are my options:
1.Prepay into mortgage. Rate is 2.1%
2.Invest in stocks and I know I can get at least 7 % return.
...
- 16k
18
votes
7
answers
4k
views
What are the advantages of paying off a mortgage quickly?
What are the advantages of paying off the mortgage quickly??
Sure, not paying interest and truly owning your house is great, but then the money is tied in a fixed asset, and if you want to get at ...
- 191
7
votes
3
answers
288
views
Helping family with house payments
My wifes sister and husband can no longer meet the payments on their house. He can no longer work and she is working and earning enough to cover a little more than half the monthly payments.
Lets ...
- 71
13
votes
3
answers
4k
views
First time home hunters. Pay debt or save for down payment
tl;dr
We want to buy a house.
We've done all the pro's and con's of home ownership.
We have 1/2 a down payment and some highish loan payments
Would it be wiser to pay down the loans and go with a ...
- 285
10
votes
3
answers
857
views
Should we try to make additional mortgage payments if we want to sell the home after 5 yrs?
In this question: Why making additional payment to mortgage counts towards principal? Why does it matter? it is explained why making additional payments towards your mortgage will bring down the total ...
- 16k
9
votes
2
answers
2k
views
Should my husband & I be saving money?
My husband and I are looking to buy a new house with a mortgage of about 400K-500K and a downpayment of 200K-300K (max value of home:700k). (We currently own a home that we purchased for 300K, and ...
- 477