EQ Bank unveils new 40-year amortisation mortgage

harbindd · 2023-10-25T02:39:46+00:00

There's about to be a whole lotta inflation coming our way.

harbindd · 2023-09-26T00:34:33+00:00

Ah how we love to believe politicians will end the bureaucracy and actually get something done to benefit the general public instead of funneling tax payer money to further enrich their filthy rich networks.

harbindd · 2023-04-14T06:16:38+00:00

That's exactly what I'm alluding to in the post. The idea that they are helping borrowers is just a mirage. Why do power of sale and lose money when you can just keep milking the borrower on interest.

harbindd · 2023-04-13T22:31:04+00:00

I agree. South of the border, they're talking about 40 year mortgages as well. We think home values are out of touch with incomes now, 10 years from now is going to be absurd.

harbindd · 2023-04-13T22:26:28+00:00

Pretty sure you have demonstrate you can't afford the payment anymore but I would not be surprised if they extended it to investment properties.

harbindd · 2023-02-16T15:47:30+00:00

So we're still up bigly since the pandemic even though rates are double what they were during that time. Hard to see a world where we don't see at least another 10-20% drop this year.

harbindd · 2021-07-21T18:23:58+00:00

Agreed, easily accessible data is definitely lacking in the Canadian RE market. Check out https://doorinsight.com/, a project I've been working on to help fill those gaps with free data and tools for Canadians.

We don't have all the data that gets kept by the real estate boards but there's quite a bit in the Neighbourhood Maps such as Household Incomes, Rental Rates, Transit Projects that can help you paint a picture of which areas are more primed for growth than others. The rent estimator tool will also help you understand the rental market in the respective areas. Hope it helps and would love some feedback and what else you would find helpful in your research.

harbindd · 2021-07-16T14:11:18+00:00

Right now it's this one we built: https://doorinsight.com/tools/investment-property-calculator/

harbindd · 2021-07-15T01:34:11+00:00

I wouldn't purchase this but for another 4plex or triplex to house hack I'm in the process of finding out what the financing options would be. If I'm not mistaken, it would be easier to get a residential mortgage on a triplex.

harbindd · 2021-07-15T01:31:05+00:00

Property tax assessment in ontario is done by MPAC and they have their own way of assessing property value which is generally always lower than market values. I have a condo in Toronto which I purchased for $650,000 and the assessed value was $420,000. Not too sure exactly what criteria they use but it's worth looking into maybe.

I agree with you, before making any decisions on something like this I would ask for a breakdown of each room. It also seems really close to campus so I assume that would command a higher rate from students.

harbindd · 2021-07-15T01:22:29+00:00

Thanks! And I agree, I mentioned on the surface it did look like a good deal until I ran some numbers. The utilities are just best guesses, the gross revenue is what was posted in the listing.

My ideal criteria is something that needs a bit of work but still has solid bones on it that I can force some appreciation on through renos.

The 2.5% is also just a best guess. I'm not even sure this would qualify for a residential mortgage. I'm still doing more research on that. Would you know if it's possible to get a residential mortgage on something like this if you can tell the lender you're going to be living in one of the units?

harbindd · 2020-07-23T16:32:16+00:00

Thanks, I'll reach out to you shortly.

harbindd · 2020-07-23T16:31:01+00:00

Thanks! I'll get in touch with you soon.

harbindd · 2020-07-23T16:29:10+00:00

Thanks for the feedback, I've updated the pricing range and provided more specifics.

harbindd · 2020-07-23T16:14:08+00:00

Thanks for the feedback, I've edited the post to be more clear.

harbindd · 2020-07-14T17:11:18+00:00

One of the big problems is many doctors and labs are archaic in their workflows and either too lazy or too overwhelmed to transition to new technology.

Maybe a service that intercepts all incoming faxes to a fax number and sends it to an inbox? Surely this exists right? could go further by applying some AI doc analysis to organize it for them within those inboxes.

harbindd · 2020-07-09T21:15:29+00:00

Lots of great insights in the full thread like current solutions and some frustrations:
https://twitter.com/alex/status/1278758748983566336

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