British Expats - Search Results

Search: Posts Made By: iaink

Showing results 1 to 4 of 4
Search took 0.03 seconds.

Forum: Canada

Feb 24th 2006, 7:08 pm

Replies: 59

"Affordable" mortgage

Views: 4,393

Posted By iaink

Re: "Affordable" mortgage

Although for some it makes some sense to go that way, (especially if you are in a position to pay the principal down quickly) its worth noting that usually the interest rate is a few point higher on...

Forum: Canada

Feb 23rd 2006, 7:29 pm

Replies: 59

"Affordable" mortgage

Views: 4,393

Posted By iaink

Re: "Affordable" mortgage

Precisely why I am trying to minimise my mortgage commitment this time around.

Maximum EI I think is $850 twice a month. Having tried living on that briefly in the past and paying the mortgage...

Forum: Canada

Feb 23rd 2006, 5:35 pm

Replies: 59

"Affordable" mortgage

Views: 4,393

Posted By iaink

Re: "Affordable" mortgage

Its up to you how fast you think you can pay it back. Obviously quicker is better.

20 or 25 year terms seem the norm, with it up for renewal every 5 years. As income rises its not uncommon to...

Forum: Canada

Feb 23rd 2006, 3:47 pm

Replies: 59

"Affordable" mortgage

Views: 4,393

Posted By iaink

Re: "Affordable" mortgage

Mortgage was for around $100k

Principal and interest ~$650, including property tax $~830

Thats a little over 20% of net income. I wouldnt want it to be more than that, and will aim to reduce...

Showing results 1 to 4 of 4