We move in on Thursday and I am as excited as can be. It is more or less done, but there was one last problem… The clean-up guy used a std construction ladder in the living room. The problem? On the bottom of the ladder was a glob of black silicone. Now, there is a 8x8inch patch of black shit on our white-ish livingroom carpet. Since the dolt tried to clean it with basic cleaner, he scrubbed the hell out of it and it started to fray. The housebuilder we apeshit on the guys as they now have to install new carpet in the upstairs living room. Oh well, as long as its fixed before we move in…
ANYHOW… reason of this post. Thanks to an attractive interest rate (2.65%) and a fairly good chunk of cash down (about 40%) my mortgage payments have fallen from $850 per month on our present house (that we are in now) to $530 per month… ($265 bi-weekly) and our new house is worth about 60K more than the old one to boot. That is almost $500 less per/month than apartment renters pay here and we have a 1800 ft[sup]2[/sup] house! As well, this means if all goes well, between the wife and I we should have the new Chateau Bernse more or less paid off in 5 years… as we’ll be able to put more lump $$$ payments on the principle… and yes, I am damn excited about that. By the time I am 34 we should own our new house clear title!! Yay!
I don’t mean to brag toooo much but I am just so damn happy about my situation right now
Wow, congrats on your new place. Is 2.65% interest standard in Canada, or did you have some blackmail material on the lender? Throw in the USD vs CAD difference and I am extremely jealous. My mortgage payment is, well, let’s say much more. And no, we won’t be paid off in a year.
I smell a straight dope housewarming, no need to find a hotel, drink till you vomit (but not on the white carpet) good ol time approaching in Canada. Can we volunteer you to host?
Wow, congrats on your new place. Is 2.65% interest standard in Canada, or did you have some blackmail material on the lender? Throw in the USD vs CAD difference and I am extremely jealous. My mortgage payment is, well, let’s say much more. And no, we won’t be paid off in a year.
w00tah00ta!
Working out the exchange rate, that’s pretty damn good. Still more than myself and the man of the house are paying , but our house is only worth about 110k of your Canadian dollars. We won’t be paying it off in five years either, although we have made a few small overpayments (flexible mortgages are brilliant).
Thanks! To answer the interest rate question, our mortgage is prime less 1.1 for the first 6 months. After that, it rockets up to prime less .4 As long as the interest rate doesn’t go through the roof, I’m very safe. It is also lockable with no notice and no penalty.
AND!!! even better news!
I just found out today that I got a raise of about $300 per/month on my Salary. Not huge, but damn! I’ll take it!
This has got to be one of the best weeks I’ve had in ages!
I just refinanced the condo, with a slightly lower rate and a switch
from 30 years to 20 years.
The big news is the $25,000 check I am holding in my hands, since
property value has gone up.
The bad news - higher monthly payment. But still a good deal, all in all.
No news on a raise for me, but I’ll keep you posted.
It’s always a good week here in Palm Springs. 80 degrees today and the pool was perfect. Except for the influx of rowdy spring breakers into town, I am in heaven.
, but our house is only worth about 110k of your Canadian dollars. We won’t be paying it off in five years either, although we have made a few small overpayments (flexible mortgages are brilliant).
As long as the interest rate doesn’t go through the roof, I’m very safe. It is also lockable with no notice and no penalty.