Canada Mortgage Hub Discussion Board

Canada Mortgage Hub Discussion Board



SearchSearch   Members      Login
Today: 22.01.2018 - 14:11:10
   Canada Mortgage Hub Discussion Board -> Mortgage Edmonton -> Need down payment for 3rd property. Should I refinance my 1st mortgage or get 2nd mortgage on 1st property?
Autor Post

retro_king

User




Statistic:
Total topics: 7
Total posts: 98
Reputation: 369 ±
Penalties: 0
Need down payment for 3rd property. Should I refinance my 1st mortgage or get 2nd mortgage on 1st property?
--------------------------------------------------
--------------------------------------------------
Canadian mortgage corporation
Post # 1.

nobuhiro-tni

User




Statistic:
Total topics: 4
Total posts: 72
Reputation: 394 ±
Penalties: 0
Not enough info to answer - you should ask you accountant.PatrickTheRealtor@yahoo.com
--------------------------------------------------
Post # 2.

nmpmichael

User




Statistic:
Total topics: 8
Total posts: 61
Reputation: 593 ±
Penalties: 0
I'm a mortgage broker from Edmonton, Alberta. It's kind of difficult to anwser your question without more details. You state that you want a downpayment for a 3rd property. here's what i would usually want to know:1) What Loan to Value do you have in your properties?2) What is your credit like?3) Is the bad debt credit cards/store cards?4) Do you have provable income?5) How much of a downpayment are you looking for?6) What is the new revenue property?I could go on but you can see it's not that simple.One thing is there's a stated income line of credit available up to 80% LTV, with 1% minimum payment on the balance. this can be registered as a 2nd but doesn't have 2nd interest rates.
--------------------------------------------------
Best canadian mortgage rate
Post # 3.
1  


Powered by © 1.8 eXclusive