All Questions
10
questions
2
votes
0
answers
54
views
What are the correct terms for a fixed payment with variable rate mortgage vs variable payment with variable rate mortgage?
What are the correct terms for a fixed payment with variable rate mortgage and variable payment with variable rate mortgage? I've read on some articles that a variable rate mortgage and adjustable ...
- 59
2
votes
1
answer
310
views
In a fixed mortgage, is the term the same as the amortization period?
From what I understand, the term is the length of time the mortgage agreement and interest rate will be in effect and the amortization period is the length of time it’d take to fully pay off the loan. ...
- 47
0
votes
3
answers
253
views
What is a land loan, is it different than a mortgage, and how?
From what I understand, a mortgage is a loan secured by real estate. Thus under this definition you should also be able to buy land (secured by the land). Is this true? If it is how come there are ...
- 47
2
votes
2
answers
186
views
earnest money and security when buying a house in Vancouver
I am in Vancouver and planning to buy a townhouse. There is approximately a difference of 2 months from the day I make the deposit to the closing day (which I see as the funding day). I am starting my ...
- 175
0
votes
2
answers
4k
views
Why would a mortgagor need a postponement clause for a 2nd mortgage?
101 Streetsmart Condo Buying Tips for Canadians (2006). Douglas Gray, B.A., LL.B.. p. 40 Bottom. The author replicated the quote benaeth in his other book (unrighteously?).
Secondary Financing
...
user102055
2
votes
1
answer
72
views
Determining CMHC insurance premium
Is the calculation based on purchase price with HST or without HST?
For example, the property is being purchased from the builder and the stated purchase price includes HST. If the posted price is $...
- 21
2
votes
1
answer
308
views
What would happen if I were to lose all equity in my condo when it's time to renew the mortgage?
I've been reading Condo Bible and it has the following passage:
A solid down payment of at least 25 percent will act as a buffer for you at mortgage-renewal time should interest rates slowdown. If ...
- 193
5
votes
2
answers
193
views
Under which conditions does it make sense for a Canadian investor to put their mortgage in their RRSP?
Canada allows investors to use their retirement fundings (RRSPs) as part of a loan to themselves, which can fund the buying of a house. When does it make sense to take advantage of this?
- 1,659
2
votes
1
answer
173
views
What impact does the new mortgage rules have on CMHC policies? [Canada]
With reference to this question, how does this affect the Canadian Home and Mortgage Corporation (CMHC)? This organization made it possible to get a new home with as little as 5% downpayment, ...
- 6,230
2
votes
1
answer
534
views
Canada: New mortgage qualification rules, 2010: Why, what, & when in effect?
Earlier today, the Canadian federal Finance Minister Jim Flaherty announced new mortgage qualification rules for Canada.
Why were new rules introduced?
What are the new rules being introduced, vs. ...