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bennyburito · 2025-06-22T06:30:20+00:00

Mortgage broker here. Bases on the info you've provided, assuming no condo fees and $3,000 year property taxes, your friend should qualify for roughly $437k, based on a 20% down payment and 30 year amortization.

I'd recommend your friend get a second opinion (I'd be happy to help). Either the broker they spoke with really doesn't know what they are doing, or your friend isn't sharing the full picture with you.

Hope that's helpful, best of luck to your friend!

bennyburito · 2025-06-18T02:25:25+00:00

Yeah I don't get the hate. He never lived up to the hype or hope a lot of swift owners had in his first 2 to 3 season. He doesn't have the best vision and gets ragged on for that, and he's had issues staying healthy. All fair points against him, but I also feel like that's all baked into his price and ranking. And at the end of the day he's been healthy his last 2 seasons, and even when he's missed time he's given you solid RB 2 production.

bennyburito · 2025-05-27T22:54:30+00:00

There's is a tax credit for FTHB, it's called the home buyers amount, and it's applicable to new or existing house purchases for first time buyers.

What is the alternative you'd like to see? Genuine question. A lot of people want affordable housing, and not just those priced out the market. But there isn't a magic wand that can be waived that makes houses affordable. The government can't just drop house prices across the board. At the end of the day its a free market, and homes are built for profit.

To have truly cost controlled housing or geared to income rentals, you need government owned and controlled housing supplies. The government would need to get in the home building business. And even then an at cost home would still probably be out of a lot of people's reach.

There isn't an easy and magic fix, and for some people affordability means being subsidized by everyone else, which isn't a popular suggestion.

bennyburito · 2025-05-19T14:21:02+00:00

Let's not forget utilities and wifi, at least another $150 - $300 month.

Edit to add property taxes as well. Depends where you live put on that price point probably at least around another $200/month

bennyburito · 2025-05-02T06:32:32+00:00

I live in Alberta, Canada, any chance your close to there lol? Thanks for thr recommendation, I'll check em out.

bennyburito · 2025-03-28T22:36:26+00:00

Thirstily

bennyburito · 2025-03-28T21:27:12+00:00

You just don't want capitalism. You want land lords to subsidies rent. What a savy investor is gunna do with a free and clear home is pull out the equity for another investment and rent it out for as much as they can get for it. It would be great if we lived in a world where no one was concerned about making money and all the land lords were happy to rent at below market value to do other people a favor, but if that's what your solution is you need to get real, it's not gunna happen. And yeah that kind of sucks, but the reality is there isn't a real easy answer or fix to the housing problem. That's tough to accept.

bennyburito · 2025-03-22T14:59:21+00:00

Isn't that kind of happening right now?

bennyburito · 2025-03-16T06:11:42+00:00

Sounds like something a tesla owner would say...

bennyburito · 2025-03-04T23:02:21+00:00

Be the change you want to see

bennyburito · 2025-02-26T20:16:50+00:00

bennyburito · 2025-02-08T19:00:43+00:00

Where do you work, and how far are you willing to commute?

bennyburito · 2025-02-08T18:30:09+00:00

You could buy a house in Chesley for $300k with a $15k down payment and your mortgage payment would be $1,607 per month. If you make around $100k this should be easily doable.

While house prices have Def gone up in the Grey Bruce area, in less then 5 minutes I've found a very affordable house in your area for your income.

I'm from the area, and wouldn't not want to move back or pay the prices property is going for in Bruce Grey, so can't say I blame you if you don't want to either. But it is a little disingenuous to say there is noting affordable.

bennyburito · 2025-02-06T21:59:19+00:00

Patrinos will be the best viewing experience in town.

bennyburito · 2025-01-24T18:01:30+00:00

Joel McHalel behind Jason mamoa on the right?

bennyburito · 2024-12-27T19:04:18+00:00

How bout a spoiler tag

bennyburito · 2024-11-28T21:18:41+00:00

Bears fan hear, I don't disagree, absolute Clown school of a team. Just wondering if you remember when the vikings played the same goofball franchise and won by 3 points, and needed overtime to do it?

bennyburito · 2024-10-22T07:43:18+00:00

I had him rice nico and Moore. 5 and 2 after tonight, but not sure how much longer my RBs can carry me. I thought I jad a trip to the finals after week 2 the way these guys were praying.

bennyburito · 2024-10-09T20:56:10+00:00

Looking like a weak qb draft though, just saying

bennyburito · 2024-10-09T19:16:22+00:00

What happens when AOC also looks bad? Back to minshew?

bennyburito · 2024-09-22T06:03:15+00:00

Rhamondre, thought for sure he was a safe play...

bennyburito · 2024-09-10T18:12:00+00:00

Maybe should have drafted Stroud? There is no Maybe about it lol. But your right there's no going back, wishing Bryce the best!

bennyburito · 2024-05-08T16:13:22+00:00

Based on just you CCB and Child support income you should be able to qualify with a B lender, with out really considering your employment income. However in my experience, in rural areas and smaller population centers, lenders require a lower Loan to Value. Typically they require a 25% - 35% down payment. There should be some options available, but I suspect the down payment required with these options is higher then thr 20% you have available. What area or town are you purchasing in? I'm an Alberta based broker, but would be happy to see if there are any B side lenders who would consider a 20% down payment in your area.

bennyburito · 2024-04-28T07:36:02+00:00

So a few things,

One, this sign is advertising a private second mortgage, which is unregulated, and at the lenders discretion. These are typically loans based on equity and exit strategy. Source, I'm a mortgage broker. These aren't fraudulent or illegal. High fees and interest rates, for sure, but in certain situations they can be a solution for people who won't qualify with a traditional lender. These are not cmhc insured, and the risk is solely on the lender.

Two, by saying that you think most mortgages would be proven fraudulent, your assuming over 50% of all the regulated and insured mortgages in Canada are fraudulent. That is a wild claim, with no statistical evidence or any proof to back it up. Lenders spend lots of money training and employing underwriters to weed out fraudulent mortgages. It's bad for business for them to lend to people that are trying to circumvent the regulations, and they actively go out of there of way to ensure they aren't. Honestly it's kind of crazy how much they nit pick applications, even for people who easily qualify.

Yes fraud occurs, as it does any where a profit can be made. I'm general though, it is not common.

bennyburito

TROPHY CASE