rrsp: It's RRSP time again...and this question comes up frequently at this time of year
- 02/01/10 07:38 PM
Hello Vancouver, it's RRSP time in Vancouver and this question has comes up for me today...and then I conveniently got a good reminder summary today from First National bank so I thought I should pass it along for the Canadian First Time Home Buyers... First time home buyers who are Canadian residents are allowed to withdraw up to $25,000 from their RRSP TAX FREE, through Canada's Home Buyers Plan (HBP) a Buyer and their spouse can each withdraw up to $25,000 (as of the 2009 federal budget) to build or buy a qualifying home. Withdrawing the money from your RRSPs through the HBP is … (2 comments)
rrsp: Amortization Period Can Help Your Vancouver Buyers Qualify
- 01/19/10 12:01 PM
Think You're Paying Too Much Interest If You Amortize Over 35 Years? Think again! Here's this Vancouver Mortgage Broker`s opinion...go as long as you can and here`s why! •· $1,000 mortgage monthly payment / 25 years is equivalent to 845.32 over 35 years. •· 4.30% interest rate (amortization periods do not mean a higher interest rate) 25 YEAR MORTGAGE:PAYMENT INTEREST PRINCIPLE#1 $653.96 $346.06#2 $652.73 $347.29#3 $651.50 $348.52#4 $650.27 $349.75#5 $649.03 $350.99 35 YEAR MORTGAGE:PAYMENT INTEREST PRINCIPLE#1 $653.96 $191.34#2 $652.73 $192.02#3 $651.50 $192.70#4 $650.27 $193.39#5 $649.03 $194.07 INTEREST PAID is the same in both cases, no … (8 comments)
Hello Vancouver, it's RRSP time in Vancouver and this question has comes up for me today...and then I conveniently got a good reminder summary today from First National bank so I thought I should pass it along for the Canadian First Time Home Buyers...
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