Comments for RateSupermarket.ca Blog

Comment on Credit Cards for Kids!?! by Wasn't Born Yesterday

Wasn't Born Yesterday — Fri, 17 Feb 2012 01:16:47 +0000

To answer your question:
Should you give your kids a credit card? And, if so, when?

I would give my kids a credit card when their net worth exceeds mine.

Comment on Fractional Ownership by Laura

Laura — Tue, 14 Feb 2012 14:55:43 +0000

Scott,
Most mortgage professionals do have access to a lender that will write a mortgage for fractional ownership; they likely will require you to obtain special documentation (i.e. independent legal advice from a lawyer) in order to approve and fund the mortgage. If there is an existing (fractional) mortgage on the property, you would need to find a lender that is comfortable being in second position behind the first priority mortgage already registered. Your best bet is to approach the same lender as the first mortgage. Reason being, most lenders will not fund a 2nd mortgage behind another financial institution’s first mortgage; if it came down to it and your property had to be sold off, bank #1 gets paid first. I would speak to a mortgage broker/agent to help you, they have access to multiple lenders and should be able to help you find what you are looking for!

If you’d like to get in contact with a mortgage broker who can give you more personal direction, you can visit: https://www.ratesupermarket.ca/online_mortgage_application/

Comment on Friday Mortgage Round Up: February 10th, 2012 by Laura

Laura — Mon, 13 Feb 2012 18:37:54 +0000

Thank you for picking up on that, Erin!

Comment on Friday Mortgage Round Up: February 10th, 2012 by Erin

Erin — Fri, 10 Feb 2012 17:50:08 +0000

“layman’s” terms, not “Lehman’s”.

Comment on Fractional Ownership by Scott

Scott — Tue, 07 Feb 2012 17:50:37 +0000

Allan,

Woudl you know any lenders which lend on fractional ownership properties to the fractional owner?

Regards,

Scott

Comment on Investing as a Woman by George C.

George C. — Mon, 06 Feb 2012 21:25:20 +0000

I really enjoyed your article. I think there are a lot of men that feel the same way after meeting with financial advisors – “deflated” and maybe even confused, but we just don’t want to admit it. (Admitting this would be the same as stopping to ask for directions, just can’t do it!.)

Comment on Own a Home? Get Money Back! by Winston C

Winston C — Wed, 01 Feb 2012 18:26:21 +0000

There are also many ways to make money back by installing energy efficient upgrades with upfront financing. A lot of states and provinces provides packages that you can save money up front (or take advantage of very low interest rates). I financed a solar project just by searching around on dsire and energygridiq.com. It’s pretty easy to get it done.

Comment on Cash Back Credit Cards by Cenor

Cenor — Tue, 31 Jan 2012 11:37:48 +0000

Currently I’m using Citibank Cash Back. Once the accumulated cash back reach $50, it will be credited into my credit card’s account. Based on my monthly credit card expenses, I’m constantly received $50 in every 2 months. Definitely I will not go back to bonus or rewards type credit card.

Comment on Friday Mortgage Round Up: January 27th, 2012 by Hamid

Hamid — Sat, 28 Jan 2012 07:02:28 +0000

Very helpful!

I think better to re-finance if you have 20/20 option. You can pay 20% of the initial mortgage amount at not cost and lower your penalty.

Comment on CIBC Mortgage Rates Dropped: 4 Year Fixed Rate to 2.99% and 7 Year Fixed Rate to 3.99% by eric

eric — Wed, 25 Jan 2012 05:02:21 +0000

plz tell me what doc do u need to be approved by the mortgage center?Do u have a variable rate 2.8?wtz doc requar for it?

tnx

647-702-2774