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Questions by potential first-time home buyers


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#121 Barrrister

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Posted 04 December 2020 - 07:37 AM

Step One: Marry supper rich

 

Step Two: Get divorce with giant settlement

 

Step Three: Dont need a mortgage, buy what you want


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#122 Rob Randall

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Posted 04 December 2020 - 08:12 AM

Marry breakfast rich--it's the most important meal of the day.


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#123 Victoria Watcher

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Posted 04 December 2020 - 08:14 AM

i’d marry snack rich.

the problem is EVERYONE loves snacks.

then:

When you're in love with a beautiful snack woman, it's hard
When you're in love with a beautiful snack woman, you know it's hard
Everybody wants her, everybody loves her
Everybody wants to take your snack baby home
When you're in love with a beautiful snack woman, you watch your friends
When you're in love with a beautiful snack woman, it never ends
You know that it's crazy, you wanna trust her
Then somebody hangs up when you answer the phone
When you're in love with a beautiful snack woman, you go it alone
Maybe it's just an ego problem
Problem is that I've been fooled before

Edited by Victoria Watcher, 04 December 2020 - 08:18 AM.


#124 Matt R.

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Posted 04 December 2020 - 01:55 PM

Well, there was the whole I and not we in every one of my posts. :)

Yes, I’m doing it solo. If I had a co-signer, self-employed or mot, it would be night and day. Banks like to de-risk by having more than one individual responsible for a mortgage, even if it’s a 1% co-signer, and that gives couple-applicants or people with a parent co-signing a massive advantage over single applicants.


So now you say being self employed isn’t the issue? It’s hard to keep up, lol.

Matt.

#125 spanky123

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Posted 04 December 2020 - 02:01 PM

Well, there was the whole I and not we in every one of my posts. :)

Yes, I’m doing it solo. If I had a co-signer, self-employed or mot, it would be night and day. 

 

There is self-employed and there is self-employed. If you have a physical location, established business and consistent salary for an extended period of time that is one thing, if you work freelance selling intellectual capital without consistent revenue that is another.


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#126 MarkoJ

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Posted 04 December 2020 - 02:33 PM

The odd thing I find about mortgages is equity/assets almost seem to be a non-factor. Banks will rather lend to someone at 95% loan to value that has a government job than someone that is 50% loan to value and self-employed.


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#127 Mike K.

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Posted 04 December 2020 - 03:22 PM

So now you say being self employed isn’t the issue? It’s hard to keep up, lol.

Matt.


It is, but two self-employed people on a mortgage is far more preferable to a bank/lender than one.
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#128 Mike K.

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Posted 04 December 2020 - 03:23 PM

The odd thing I find about mortgages is equity/assets almost seem to be a non-factor. Banks will rather lend to someone at 95% loan to value that has a government job than someone that is 50% loan to value and self-employed.


That’s what I’m up against, for sure.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#129 Victoria Watcher

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Posted 06 December 2020 - 04:59 AM

HSBC has come out with a variable rate mortgage at 0.99 per cent, which industry watchers believe is the first such posted offer below 1 per cent ever in Canada.

 

The lender announced a promotion on Friday offering the rate to high-ratio, insured mortgages only — meaning it is only for buyers with less than 20 per cent down, who will then have to pay to insure their mortgage, which protects the lender in case of default. The offer is for a five-year closed term — though the rate, of course, may vary up or down over that time, as it's tied to the bank's prime lending rate.

 

 

 

https://www.cbc.ca/n...-hsbc-1.5828934


Edited by Victoria Watcher, 06 December 2020 - 04:59 AM.


 



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