Your Opinion on Manulife One

[HayesHomes]

A colleague is using Manulife One for RE investing and recommended it to me. The most recent threads on this subject date back to 2008, so I would value any recent feedback you can share.



I understand there is a $14 monthly charge and all LOC usage is applied against the equity of your home. I also understand online reporting allows you to track investments separately.



I am mortgage-free and want to put the equity in my home towards real estate investing.



In your experience, would Manulife One be a wise decision or are you using the service of another institution that makes more sense?



Thanks kindly,

 

[RussellWestcott]

Lots of Discussions on this topic in this forum... you can run a search



or click here



(this should take you to the search), just make sure you click on

Forum Search Result : [+] See Results

 

[Thomas Beyer]

A good tool for the lazy investor with low discipline .. as their rates are prime PLUS ONE .. thus expensive.



Lower priced LOC or mortgage rates can be had with some shopping, assuming you pay off your credit card off every month and also do not leave too much cash in your chequing/savings account.

 

[HayesHomes]

Thanks for the instruction Russell. I was able to go deeper into the searches and find more content.



Thanks also for the feedback Thomas. I have no debt and pay everything in full each month, so that's why I question whether it is the right vehicle for me. I plan to use the equity in my home to invest, however, don't want to add unnecessary expenses (ie. $14/mth) unless of course, the ability to separately track properties is a benefit no other program offers. Then the $14/mth would be an inexpensive tracking system I'd be happy to pay for.

 

[kboughen]

Hi Laurie,



Other Lenders do offer similar products which may be better suited for you (no fees, better rate etc). A Broker familiar with Investor financing will be able to review the whole picture and make a recommendation for you. Don't hesitate to contact me directly if you would like to discuss details.