Archive for 'Mortgages'
What Happens If Mortgage Rates Go Up?
Many of us have never known ‘normal’ let along high mortgage interest rates although it wasn’t that long ago that 6 or 6.5% was the norm for a 5 year mortgage. When I started working at the bank (in the mid 90’s) the rates were closer to 10%! How much difference would a 1% […]
Posted: June 16th, 2015 under CEO of the House, Debt, Money & Lifestyle, Money Savvy Tips, Mortgages.
Tags: Budget, Cash Flow, Dear Piggy Bank, Financial Planning, Loans & Debt, Money & Stress, Mortgages
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How to Get Rid of Your Mortgage ASAP :)
No one said it’s going to be easy peasy lemon squeezy but if getting rid of your mortgage is number one priority for you, then it can be done. There are 2 strong motivating factors to pay off your mortgage as soon as possible: No more mortgage payments = more of your […]
Posted: June 11th, 2014 under CEO of the House, Debt, Money & Lifestyle, Money Savvy Tips, Mortgages, Tips & Tricks.
Tags: Budget, Cash Flow, Dear Piggy Bank, Financial Planning, Loans & Debt, Money & Stress, Money Systems, Mortgages
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Will We Ever Live in Lotus Land Mortgage Free?
I worked for one of Canada’s Chartered Banks for seven years and not once did I hand a client their mortgage discharge papers. That may not seem significant but I’ve heard stories from those in our parents’ generation who worked hard to pay off their mortgages as soon as possible, in 15, 10 or even […]
Posted: June 4th, 2014 under CEO of the House, Debt, Money & Lifestyle, Money Savvy Tips, Mortgages.
Tags: Budget, Dear Piggy Bank, Financial Planning, Money & Stress, Mortgages
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How Much Can I Afford to Pay to Live in Vancouver?
Whether you rent or own…we pay a premium to live in Vancouver. The question is – what can you afford to pay? The recommendation is that you do not pay more than 32% of your gross (before taxes) monthly household income towards housing. This calculation includes the housing payment (principle and interest or rent) plus […]
Posted: May 28th, 2014 under CEO of the House, Debt, Money & Lifestyle, Mortgages, Tips & Tricks.
Tags: Cash Flow, Dear Piggy Bank, Financial Planning, Money & Stress, Mortgages
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Buying a new Home? Don’t Forget About These Costs – The Final Number
Shopping for a new home is fun! But take a look past the sticker price to learn what other costs to include in your budget. Some are one-time or transaction expenses, some are an investment or upgrade and others are incremental to your existing bills. It’s a good idea to do a little research to […]
Posted: April 30th, 2014 under CEO of the House, Money & Lifestyle, Money Savvy Tips, Mortgages.
Tags: Budget, Dear Piggy Bank, Financial Planning, Loans & Debt, Mortgages
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Buying a New Home? How do I Know How Much I Can Spend?
Between you and the bank, you’ll know how much you can afford for a monthly housing payment. The last post explained some of the guidelines that banks use to determine this. For you to be comfortable though, take the amount you want to spend each month and deduct any related costs such as property taxes […]
Posted: April 23rd, 2014 under CEO of the House, Money & Lifestyle, Money Savvy Tips, Mortgages.
Tags: Budget, Dear Piggy Bank, Education, Financial Planning, Mortgages
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Buying a New Home – What Can I Afford?
A New Home – What Can I Afford? Whether you are buying your first home or your third home, the big question is usually – What can I afford? This is a big question that is made up of two parts: How much do you have for a down payment and what will someone lend […]
Posted: April 17th, 2014 under CEO of the House, Money & Lifestyle, Mortgages.
Tags: Dear Piggy Bank, Education, Financial Planning, Loans & Debt, Mortgages
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Mortgage Rates on the Rise – What Can I Do?
Mortgage rates were 9 to 12% when I started working at the bank in the early 90’s! They went up slightly before coming down and they’ve been so low for so long, I cringe at the thought of what higher rates will do to mortgage payments. Depending how much of a mortgage you have, an increase […]
Posted: July 11th, 2013 under CEO of the House, Debt, Money & Lifestyle, Money Savvy Tips, Mortgages, Tips & Tricks.
Tags: Budget, Cash Flow, Dear Piggy Bank, Money & Stress, Mortgages
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If Mortgage Rates Rise, What Does it Mean For You?
For most of us who own a home, mortgage payments are are greatest monthly expense and of us who live in the Lower Mainland, mortgage payments can eat up a disproportionate amount of our income compared to other expenses. The first thing to do is gather some information: What is your current mortgage rate and term (for how long will you […]
Posted: June 26th, 2013 under CEO of the House, Debt, Money Savvy Tips, Mortgages.
Tags: Budget, Cash Flow, Dear Piggy Bank, Financial Planning, Money & Stress, Mortgages
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High Cost Housing in Vancouver
I was chatting to a co-worker about some of the challenges my generation faces in term of the Vancouver housing market. Specifically how much of household income goes to holding the roof over our heads…not literally as we really like our house and ‘knock on wood’, it seems to be very well made. She lent […]
Posted: November 22nd, 2011 under CEO of the House, Money & Lifestyle, Mortgages.
Tags: Mortgages
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