The sooner the better. It will come someday and it is not going to get cheaper. I would just hope that the Province builds it and it is not done as a P3. Renting infrastructure makes no sense to me. I prefer the debt because someday it will go away. Rent payments never do. Should we own or be...

I agree somewhat with Rob. You do not pick your broker by location, but I strongly recommend that your broker is from the same province that you are purchasing your property. Lenders are getting nervous about crossing provincial boundaries. My feeling is the less we give the lenders to get...

I haven`t heard of using someone elses RRSP as a down payment. It could be used for a second mortgage though behind a conventional mortgage from a regular mortgage lender. But be careful all lenders won`t allow that.

If your desire is to grow your business on the right footing and stay on top of what is going on in our market place then REIN is of great value. Yes it is not cheap to belong but what business doesn`t have "trade" membership costs? Having regular access to people in the know is invaluable. All...

Yes it does. Some of the lenders offer such a product. Talk to your Mortgage Agent and see what they can find out for you.

It can happen fairly fast, but the hold up when I set up mine was the releasing of my funds from the Royal Bank to Olympia. It took me about 6 weeks total but I am sure they don`t all take that long.

Also remember, CMHC fees are portable as well. So if you port your mortgage and add additional funds, the amount of CMHC fees already paid does not have to be paid again.

Modular homes are harder to finance. I have usually found that once you factor in the lot rent you can usually by a real house for about the same monthly payment. Owning the land is where the value is.

Lenders will not allow and/or assigns. They need to know who they are lending the money to. You can start with that but it will have to be changed before the funder agrees to the deal.

Read Thomas` words carefully and always heed what he says. If you follow his teachings you would have a real hard time getting into trouble.

Please report the mortgage broker to the provincial authorities. It is that kind of activity that is causing a lot of lenders to look at their policy in the way they deal with brokers. Brokers and competition cause low rates and that is good for us all. Any thing "dummy" is a lie and therefore...

As always Thomas makes a lot of sense, but I do look at it a bit different. I suggest to all my clients to take the longest amort. possible. This allows you to qualify for more property. However, making additional payments is a good thing because as Thomas says rates will most likely be higher...

I have found that most people do not understand debt. I too had long discussions from bankers re the way I handle my affairs and they have never agreed with my decisions. However on the short term (4-5 years so far) my decisions have outpaced the yield of their decisions by a very large margin...

Always talk to a broker. They only deal in discount rates. We don`t play the used car game. (I will talk to my manager and see if I can get a better deal)

Thomas as always makes some great points. Most people go to their mortgage broker looking for "the best rate" rate is just 1 of many factor in determining the best mortgage. Lenders calculate payout penalties differently some going posted to posted or posted to bond or many other configurations...

There is an old saying... Truth hurts. It is true. It will be harder to get your mortgage and it may even cost you more, but it is the right thing to do. This is more than an ethical question. It is a legal question and the answer is simple if you say it is your personal residence and it is not...

There are lots of commercial mortgage brokers out there. Every mortgage broker can do commercial mortgages but very few can do them well. If you want to email me I will hook you up with some commercial people that could help you.

Generally anything that is RRSP eligible is also eligible for TFSA contributions. So generally arms length mortgages is about as close as you can get.

If the property is a rental, do not try to buy it on the second home program. A rental is a rental!

The 3.95 rate is only available thru some brokers. You should talk to your broker to see if they have that option available to them. As far as forcasting 3 and 5 years into the future, 5 economists would give you 5 different answers. There are many unknown variables in this business so you can...