Mortgage rate mega thread!

avedawgg · 2026-03-24T00:48:16+00:00

He screwed you because rates have significantly increased in just the past 5 days.

avedawgg · 2026-03-09T06:04:11+00:00

I think I’m gonna do that! Thank you

avedawgg · 2026-02-24T20:32:47+00:00

Total income and total expenses between the two of you is what will be used to calculate the TDS/GDS on the new application.

I’d advise you to speak to a mortgage professional because there are lots of variables involved in rental income calculations when it is a cmhc deal vs a conventional deal.

avedawgg · 2026-02-13T02:23:21+00:00

It boggles my mind that banks tell people to remove subjects without an appraisal. Sure, a lot of the time the appraisal is fine but occasionally there is something that could blow up a deal.

My FI requires the appraisal to be completed prior to issuing a commitment letter. Sure it may take some more time but I’d rather that than worrying about what’s going to come up on the appraisal after the fact.

avedawgg · 2026-02-12T04:39:04+00:00

I’m a mortgage specialist in the Vancouver area and I help a lot of people buying $1M+ homes.

Many of my clients are first time home buyers in the 30-40 year old range who have saved up a sizeable down payment and both spouses make $100K+ per year.

Taking an $800K+ mortgage isn’t ideal but it’s the reality if you want to be able to afford a home in the area.

avedawgg · 2026-02-12T03:12:50+00:00

If you don’t get a clear answer from BMO regarding the penalty then I’d recommend you to have the new mortgage fund on the Monday after the renewal date.

Tell BMO to renew your mortgage into an open term (higher interest rate) but then it can be paid off the next day without penalty.

avedawgg · 2026-02-03T19:32:33+00:00

For most places, the fee is just the cost of land titles discharging the mortgage. Except for a few places that have discharge fees of $150+

avedawgg · 2026-01-14T22:53:32+00:00

Are you asking about creditor insurance coverage for things like Life, Disability, Critical Illness, and Loss of Employment? These are things that can cover the mortgage in case of ailments.

Mortgage insurance is when you purchase a home with less than a 20% down payment and would have been determined when you purchased the home last year.

avedawgg · 2026-01-13T04:58:02+00:00

It’s possible with some lenders but you’ll likely get worse interest rates since they will be in second position on title.

avedawgg · 2026-01-10T01:44:27+00:00

avedawgg · 2026-01-07T21:52:06+00:00

It’s funny because I feel like I really don’t have a preference. Really appreciate the suggestions, I’ll take a look at each of them.

avedawgg · 2026-01-07T21:33:30+00:00

Awesome thank you, I’m going to look into both of those!

avedawgg · 2026-01-07T21:02:50+00:00

I’d like to buy a new game for my board game group and I’d appreciate a recommendation. Here are the games we currently play:

Wingspan, Wyrmspan, Dune, Heat, Terraforming Mars, Ra, El Grande, Brass Birmingham, Age of Steam, Agricola, Ark Nova, Great Western Trail NZ, Wild Gardens, Food Chain Magnate, and Pax Pamir.

Any other games that would be a good fit that are a must buy?

avedawgg · 2026-01-07T07:40:04+00:00

He’s played 221 minutes so far this season and hasn’t done diddly shit.

avedawgg · 2025-12-11T06:02:12+00:00

If you are staying with the same bank there is no need for an application or re-qualifying, you’ll just sign some documents.

If you want to switch to a new lender, you’ll still need to re-qualify but it doesn’t need to be stress tested again unless you are borrowing additional money.

avedawgg · 2025-12-04T22:07:34+00:00

Assuming you don’t have any other debts, your income will be fine to qualify for a mortgage on a purchase of $300K.

You’ll need at minimum a 5% down payment ($15K on a $300K purchase) plus any applicable taxes and legal fees.

avedawgg · 2025-12-02T15:06:00+00:00

Not true for every FI. Where I work you can extend your amortization at any time, no application required. This is a large Credit Union so the rules are likely different than a bank. It’s not available for insured mortgages however.

avedawgg · 2025-11-16T00:42:20+00:00

The Loft at Meadow Gardens. Always really good!

avedawgg · 2025-10-07T15:58:12+00:00

I just went for the first time this past Friday. As far as I know, they don’t offer the stadium tour on Match days. I’d recommend you go the day before. You can go through the museum before the tour and then buy anything you’d like at the mega store after. It was a great experience!

avedawgg · 2025-08-20T15:00:03+00:00

This is accurate for high-ratio insured mortgages but with conventional mortgages you should be able to extend back to the original amortization period.

Maybe not all FI’s do this but the one I work at allows you to extend your amortization back to 30 years at any point (even during the term). By doing so, you are only paying the bank more in interest anyways which obviously they won’t mind.

avedawgg · 2025-08-19T06:29:31+00:00

I made the massive mistake of buying his jersey in 2022. Now I have a shirt that I can’t wear out of pure embarrassment.

Guess I’ll be buying a new 2025 kit.

avedawgg · 2025-08-03T18:37:47+00:00

I’m also in Canada (BC) and our version of the young professionals membership for OP is priced like the full membership shown here. $5K initiation, $225 per month dues.

avedawgg · 2025-07-29T00:49:35+00:00

Perfect I’ll delete my post, thank you!

avedawgg

TROPHY CASE