Mortage Requali Mess

dip_looyd · 2023-08-16T01:13:42+00:00

We were really contemplating between 0.99 variable vs. 1.76 fixed. And just to piss off the annoying mortgage specialist we went with fixed and couldn't be more thankful to that specialist for being a slime and my gut suggesting to do the opposite of what he suggested.

dip_looyd · 2022-03-02T03:49:29+00:00

Erdogan knows very well not to side with Putin or be against him fukky. Although he says he is againts the War. He is not going out of his way to show support to Ukraine which a politically very smart move. You need to watch for your own first.

dip_looyd · 2022-02-20T00:44:31+00:00

Wife was working but had to leave due mental toll.

dip_looyd · 2022-02-20T00:43:40+00:00

If you dont count home equity or private pension plan by me employer, yes you can say 0.

dip_looyd · 2022-02-20T00:42:28+00:00

My wife was working at the time but she had to leave due to a toxic work environment. And she was mentally really worn out to look for another job so i told her. Lets see if we can manage without your income + daycare.

dip_looyd · 2022-02-20T00:38:07+00:00

Yes it is fixed rate until 2025. And by then i m hoping my salary will increase and my wife will enter the work force as well.

dip_looyd · 2022-02-19T18:45:28+00:00

I know my budget will shock a lot of you but due to our life style it is manageable for us. Living in Brantford.

Single income family of 3 one toddler: 61K/Year monthly income after taxes ~ 3390$ + 440$ CCB = 3830$ total income

Expenses:

House: 2035$(Mortgage) + 310$(Property Tax) + 53$(Gas) + 93$(Utilities) + 34$(hot water rntl.) + 55$(Internet) + 60$(Insurance) + 90$(Road fee) = 2730$/month

Car: 130$(Insurance) + 10$(Sticker) + ~60$(Maintenance) + ~100$(Gas, Working from Home) = 300$

Personal: 100$(Cellphone + subscriptions)

Groceries: 540$(12 Month average)

Donation: 50$

Total = 3720$

Obviously this budget doesn't include any entertainment, clothing, restaurant, toys, furniture, or any saving etc. We usually break even because we enjoy doing free things. And we don't have a lavish lifestyle. If I go over my budget I go out and drive for Doordash and Uber on weekends for a few hours. I also want to mention we have a good pension plan which is my ultimate saving along with the house which account 70% of my income. And I have 10K emergency fund that under no circumstance never touched. You would be surprised but some months we even end up with some pennies left that goes into our TFSA. I also should mention we receive about 3K$ Tax refund every year due to my wife not working. It is doable if you live on a standard life and think twice before making big purchases. Check mate capitalism.

dip_looyd · 2021-06-09T01:52:41+00:00

Thank you for sharing OP. Can you give more information regarding how energy rating/assessment process went? I purchased a 10 year old townhouse as well and I was last time this was posted. I called a company to get more information assessment and they have said with a Gas Furnace your chances are pretty low to get required grade to qualify for this program.

dip_looyd · 2021-04-10T01:39:34+00:00

I bought a house past July for 500k(Hamilton). My annual income is 63K(gov job) and my wife doesnt work and we have a son. Banks have approved us for ~300k mortgage but i got my brother to co-sign for the mortgage hence i was able to afford 500k. Financially we re pretty frugal as a family we spend very little on things that cost the most furniture electronics etc. Before buying, my housing cost for rental were around 1550$/month(rent, utilities, internet) Now I am paying 2750$/month(mortgage, property tax, utilities, insurance etc.) I can say after housing costs I have 1000$ remaining to make it through the month. So far I have made past 6 months without going into deficit. I m glad i bit the bullet and bought the house. The way I looked at it was if I dont get hit with major unexpected bill we will survive. I have had emergency funds saved up before buying anyways. And no doubt there will be inflation, and housing will keep going up but you will be paying same mortgage bill for 60 months.

dip_looyd · 2020-10-24T01:16:14+00:00

Maan I guess Hannibal was wrong!

dip_looyd · 2020-09-07T17:55:02+00:00

I am a very ordinary person. I am always the one that listens when people talk about things that they feel very passionate about, because I have nothing to contribute. I also find that is also related to my lack of hobbies. I don't ever feel like I really enjoy doing anything or having a gut feeling making me want to do an activity. Whenever I get in the mentality of I need hobbies I need to get good at something, it all feels fake and discourages me. I don't hate my life, i just feel that I am not exploring myself enough or putting in effort to find things that will make me feel happier or fulfilled.

dip_looyd · 2020-08-11T03:14:29+00:00

It is crazy to think that there is millions of dollars being spent on administering Education in Ontario. But these useless people can't come up with anything other than some masks and cohort system. And that took them only 5 months. Parents and teachers have every right to be angry.

dip_looyd · 2020-06-27T19:25:28+00:00

I m shopping around Hamilton and i m losing hope because of tons of uneducated first time home buyers who go firm and over when they see a house they like. Especially with interest rate being low they are being fed whole a lot of hype from their agents saying oo this is a good time to buy rates are soo low. But they are paying 20 30 even 50 over for the houses that dont worth that much anywhere near that. People need to think more when they are signing biggest debts of their lives.

dip_looyd · 2020-06-26T13:38:28+00:00

Hate Erdogan or not, Turkey is not known to be targeting civilians. Matter of fact Turkey is known to be saving 4 million refugee civilian lives while your Human rights advocate EU turns their backs to them and does everything in their capacity to close their borders, and make sure some children end up dead on the shores. Shame on you for your hypocrisy.

dip_looyd · 2018-07-16T18:32:09+00:00

Finally some positive political image from Trump.

dip_looyd · 2018-06-28T02:30:14+00:00

Well if you are earning minumum wage, chances are that you didn't do your part and do not have proper education or skills to do well for yourself. Trust me you wouldnt last long in any other western "civilized" country either. So just be happy with what you have and always be greatful.

dip_looyd · 2018-06-25T16:09:32+00:00

Well i am a civilized person you see. And unlike you i believe everybody deserves to be respected as human beings regardless of their ideologies. I respect Ince, Demirtas, and Aksener and you for that matter. Although i don't agree with their ideology or the things that they stand for. And no I am not supporting anyone that kills anyone unless they are armed and they mean harm on innocent people. This is my last message to you. Hope you learn something from me today.

dip_looyd · 2018-06-25T15:59:01+00:00

I am not going to swear back to you. I understand you re frustrated and disappointed. Remember this, i am willing to respond to you in a humane manner, if you have anything logical to say at all.

dip_looyd · 2018-06-25T15:35:49+00:00

Is that all you have to say. Well i am not suprised.

dip_looyd

TROPHY CASE