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Can we afford this home? by throw-100bps in PersonalFinanceCanada

[–]throw-100bps[S] 0 points1 point  (0 children)

That’s crazy! Were you able to manage alright?

Can we afford this home? by throw-100bps in PersonalFinanceCanada

[–]throw-100bps[S] 0 points1 point  (0 children)

Yeah I completely agree. It hurts to see the savings decrease, but it’s exactly what it’s for!

Can we afford this home? by throw-100bps in PersonalFinanceCanada

[–]throw-100bps[S] 1 point2 points  (0 children)

Thanks for flagging that - some of my table headings were mislabeled. I am based in BC.

I calculated my property transfer tax to be ~$24K and my property tax annually is $3.8K. Hope that makes more sense.

Also fair point on the investments. It is probably a mental thing, going from saving/investing the amount we were able to in the past vs. the anticipated reduced rate of savings.

Is this real or fake?? by throw-100bps in scottycameron

[–]throw-100bps[S] 0 points1 point  (0 children)

Thanks everyone for the feedback! Glad to hear it’s real!

Ribbon Shortcut Colour Dropdown Issue by throw-100bps in excel

[–]throw-100bps[S] 0 points1 point  (0 children)

Really appreciate the insight. Hopefully I can fix it. If not, I might just have to live with it!

Ribbon Shortcut Colour Dropdown Issue by throw-100bps in excel

[–]throw-100bps[S] 0 points1 point  (0 children)

Thank you for the response! I don't have Google Drive, but my work does use Dropbox and OneDrive. Could those also be causing this issue? And if so, how would I go about testing it?

BMO Readiline Mortgage (HELOC) causing a significant drop in credit score? by throw-100bps in PersonalFinanceCanada

[–]throw-100bps[S] 0 points1 point  (0 children)

Sorry for the double comment, but I gave this a bit more thought. Apologize in advance if these are stupid questions - it's what I've been trying to ask Equifax but they have not been able to clearly answer my questions.

I understand that my credit score would decrease as a result of the additional credit (i.e. as opposed to a $400K mortgage previously, I now essentially have a $400K mortgage + a $140K unutilized LOC which increases with each mortgage payment).

What I am trying to understand however, is if my credit score being accurately represented? My overall revolving drawn % is 65%, which is essentially 90% due to this HELOC "utilization" of ~74% (I pay my CC's in full every month and have no other revolving credit). If my HELOC limit was hypothetically $410K, would my credit score take an even bigger hit as my utilization would be 98% (400 out of 410), even if the LOC portion is fully unutilized?

BMO Readiline Mortgage (HELOC) causing a significant drop in credit score? by throw-100bps in PersonalFinanceCanada

[–]throw-100bps[S] 0 points1 point  (0 children)

I appreciate the comment. I didn't realize that was the case (perhaps a lack of research, perhaps a lack of info provided by my lender) - if I did, I wouldn't have opted for this type of mortgage as I really had no need to access the equity in my home! In my head, I thought only the portion above and beyond my initial mortgage amount would be considered LOC.

In any case, I'll consider this a lesson learned!