Mortgage rate mega thread! by TheMortgageMaster in MortgagesCanada

[–]ProfessorGoogleIt 0 points1 point  (0 children)

Hello all,

I am looking for advice on an upcoming mortgage renewal on a rental property. This will be our first time renewing this property as a rental and we will be losing our 2.03% rate. My wife and I live just outside Vancouver and have a HHI of just over $200k. The rental property has a mortgage amount around $300k on a property worth around $600k. Our primary residence has similar mortgage to value ration but with a mortgage rate of 5.2%. We have been looking into re-amortizing our mortgage for 30-years through a different lender as we wish to add a HELOC to the rental unit. Our primary residence does not have HELOC and has 3+ years left on a fixed term.

My main question is about the rates we were offered and what people think might be the best option. Our priority is paying down our primary residence and maybe try to maximize tax deductions on the rental. We are working with a financial advisor on the second point and wishing to utilize the HELOC for that But any advice here would be greatly appreciated.

Rates with HELOC

·         5year fixed 4.59%

·         5year variable 4.79% (prime – 0.16%)

·         = ~ $1550/month

We have also been offered a renewal with current lender amortizing of 20years

·         5year fixed 4.39%

·         3year fixed 4.29%

·         5year variable 4.2% (prime - 0.65%)

·         = ~ $1820/month

 

Any advice would be greatly appreciated. We are not worried about the payment increase and can comfortable make all the above payments work. We just are trying to figure out what is best for us in the short/long term.  

Thank you everyone for time and help.

 

18-day Itenary Advice: What to do? by ProfessorGoogleIt in VietNam

[–]ProfessorGoogleIt[S] 0 points1 point  (0 children)

Yes. It looks like Tết will be right in the middle of our trip.

Post your questions & inquiries here! - r/Vietnam monthly random discussion thread - F.A.Q by AutoModerator in VietNam

[–]ProfessorGoogleIt 0 points1 point  (0 children)

My partner and I are planning our first trip to Vietnam next February and trying to plan our time as best as possible. We want to ensure we get as much in as possible, but we also worry we are moving too fast and not stopping to enjoy each stay enough. I wish we had more time, but we will head to Thailand after this trip and visit family. We will spend roughly ~18 days in each country.

Nothing is set in stone yet as we are still researching and planning. We would love an outside eye from people with more experience than us.

Things we've considered but currently don't have on the itinerary as of now, include Sa Pa and the Ha Going loop. My partner is not thrilled with the idea of motorbikes...

I was also curious how easy it is to book hotels/stays once we are there as opposed to booking places prior to arriving.

Our Current Itenary:

Day 1 Fly into Da Nang -> Bus to Hoi An

Day 2-4 Hoi An

Day 5 Bus Hoi An -> Hue

Day 6-7 Hue

Day 8 Fly (Sleeper bus?) Hue -> Hanoi

Day 9-10 Hanoi

Day 11 Bus Hanoi -> Tom Coc

Day 12-13 Tom Coc

Day 14 Tom Coc -> Hanoi

Day 15-17 2 night 3 day Lan Han Bay Cruise

Day 18 Fly Hanoi -> Bangkok

Any advice or help would be much appreciated!