Should you go with a short or long-term mortgage?
Q.......Should you go with a short or long-term mortgage?
from Zoocasa ASK the PROs
A.....Robert Ede
Sept 12/2010
Rates are very close to the all-time low and will be low for 6-12 months before creeping up very slowly
NB Bank Prime s/be 4%+ CPI inflation
Take a variable prime less 0.5% to 0.9%
Take a 25 yr ammortization but make payment equal to what you would have been paying on a 5yr fixed.
You'll be amazed in 3yrs when you see how far ahead you'll be in principal repayments
from Zoocasa ASK the PROs
A.....Robert Ede
Sept 12/2010
Rates are very close to the all-time low and will be low for 6-12 months before creeping up very slowly
NB Bank Prime s/be 4%+ CPI inflation
Take a variable prime less 0.5% to 0.9%
Take a 25 yr ammortization but make payment equal to what you would have been paying on a 5yr fixed.
You'll be amazed in 3yrs when you see how far ahead you'll be in principal repayments
posted by Walk a Kb or Two in my cassins | 8:32 pm
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