QUOTE (llee @ Apr 23 2009, 04:25 PM) Hi, I called RBC today to ask to lower my monthly payment (on variable P minus). After waiting for more than 45 min, the rep said first I cannot do it, because I haven`t made any additional payment. I said he didn`t make sense, and he looked further...

QUOTE (VicChung @ Apr 21 2009, 08:38 AM) Hello Everyone, I have been listening to the rent to own/lease to own audio from Mark. If I was to find a tenant who is willing to do a rent to own, and purchased a property at $300,000. The tenant is willing to put a deposit of $10,000. However, the...

QUOTE (Fortuneinvesting @ Apr 19 2009, 02:04 PM) I know the CMHC loan insurance premiums are 6.90% but when I apply for a mortgage what are the typical rates I should expect. I`m assuming the 3.69% offered at the moment is not going to go for rentals? What has everyone else`s experience been...

QUOTE (DaveRhydderch @ Apr 16 2009, 09:19 AM) A different suggestion for you, but I recommend trying to get all or some of that penalty waived. Get to the decision maker, and push hard. If you have been a solid customer, have good credit, multiple mortgages with them, going to get another...

QUOTE (marek5 @ Apr 15 2009, 01:47 PM) Hi There I was wondering if anyone out there was refinancing their property during a fixed term mortgage. We are disappointed with Soctia since at first they told the penalty would be $6,000 than once we made the appointment she figured it would actually...

QUOTE (dfluet @ Apr 15 2009, 02:25 PM) Don made a comment last month regarding 5 year mortgages with a 3.5% interest rate. Does anyone know if ths was residential or commercial. If it was residential, where can one find this rate. I can get fixed 3.2% for a year but the 4 and 5 year rates are...

QUOTE (VicChung @ Apr 14 2009, 10:02 AM) Hello everyone, In the case of rent to own, the assumptions that are made based on the property value increase (say 3% over 5 years). What happens if the property values have actually decreased over that period of time? What price does the tenant pay...

QUOTE (bigbabba @ Apr 6 2009, 03:47 PM) I guess you missed the article in the G&B less then 2 weeks ago, there is 25k mortgages in Canada that the banks dont want to renew due to people owing more on the house then the it`s worth. I suspect that most of those are with the Alternative or...

QUOTE (melissas @ Mar 27 2009, 12:09 PM) My husband and I are getting ready to buy our fist property and are wondering if we should buy it in a corporation or in our personal names? Any suggestions would be helpful, thanks! You`ll have more and better lending options available to you if you...

QUOTE (investmart @ Mar 30 2009, 12:05 AM) Hi, Would you investigate such address discrepancies with the potential tenant, and perhaps ask him/her to provide previous landlords contact again, or is it expected such errors will show on the consumer report? Thanks. i`ts important to remember...

QUOTE (RobWatson @ Mar 26 2009, 01:17 PM) What length of amortization will they do on these? I know CMHC will insure them up to 40 years, but what lenders will lend at this amortization? If you can get a six plex done residentially, you might get up to 35 depending on the remaining economic...

QUOTE (thomasbeyer2000 @ Mar 25 2009, 12:10 PM) yes, this is all VERY reasonable for a commercial property ! 1% setup fee only $1000 legal fees ! prime + 2 = 4.5% 75% = great LTV ! Usually you also need: appraisal + environmental report + engineering report for another $10,000 ! why not...

QUOTE (investor13 @ Mar 21 2009, 07:17 PM) How does it work with personal guarantees for mortgages on multi-unit investment properties? I know for the house mortgage you have to sign personal guarantee. But in the case of investment building, I want to limit my risk to losing the building and...

QUOTE (Brik8 @ Mar 24 2009, 09:49 AM) I`ve been shopping rates for a 6 plex...and the best I could find was 4.25%...That`s with 15% down and CMHC insured Is anyone else getting better deals out there? Thomas would you mind telling me where you got the financing through? 6 plexes are really...

QUOTE (woodd8 @ Mar 23 2009, 05:15 AM) I am new to this, attending the ACRES session April 18/19 in Toronto. I`m starting out with minimal capital, and am considering the CMHC second property with 5% down. I`m running into issues to make any scenario cash flow, when I`m financing 95% and making...

QUOTE (RedlineBrett @ Mar 10 2009, 03:28 PM) Property is now a rental. CIBC is only counting half the rental income on his app and he is short on income due to recently taking reduced hours due to an injury at work. That`s going to be a tough one. Most lenders won`t use disability income...

QUOTE (RedlineBrett @ Mar 10 2009, 02:39 PM) I have a client that is looking to get a HELOC on a property with substantial equity but is running into a wall with the people at his small town branch. I`m wondering if there is someone out there who knows a great CIBC rep that they would be...

You can typically ask to make changes to your mortgage commitment if you are within 14 days of funding. The bank will see it as a hassel, but you should be aware that once you accept a commitment from the bank - you can still make changes. Once you sign docs at the lawyers offic - it`s too late...

QUOTE (selewis @ Feb 20 2009, 01:12 PM) actually... my mistake.... only 5 are CMHC insured for a total of about 590k. this isn`y making sense to me. There isn`t really a dollar amount up to which they`ll lend - though they are more inclined at 90% than 95%....... When you have more than a few...

QUOTE (dpsusanthan @ Jan 30 2009, 07:47 AM) Hi I am a new immigrant to Canada with just over two months resident hear.I brought money as capital to offer a down payment and rest to be paied by a mortage loan after getting a employment in Canada.Now I have a employment and still not qualified to...