SHOULD YOU GO WITH A SHORT OR LONG-TERM MORTGAGE?

Should you go with a short or long-term mortgage?

 

 

Q…….Should you go with a short or long-term mortgage?

from Zoocasa ASK the PROs

A…..Robert Ede

Sept 12/2010

Rates are very close to the all-time low and will be low for 6-12 months before creeping up very slowly

NB Bank Prime s/be 4%+ CPI inflation

Take a variable prime less 0.5% to 0.9%

Take a 25 yr ammortization but make payment equal to what you would have been paying on a 5yr fixed.

You’ll be amazed in 3yrs when you see how far ahead you’ll be in principal repayments

 

 

posted by Robert Ede | 8:32 PM | 0 comments links to this post 

I was wondering what the commission rate is for an outside agent bringing in a client?

 

 

Q……My brother wants to buy a new house in about a month or so and I was wondering what the commission rate is for an outside agent bringing in a client?

from Zoocasa ASK the Pros

A……; Imprecisely worded question, but generally (90+% of the time)the Buyer does not directly pay the Registrant for bring in an offer.

Fees to acquire a property could range from 0.5% to 3.5%

Typically (but by no means the only way) a Buyer contracts for a registrants services and that contract outlines the fees and allows for two contingencies a) agreed min fees paid thru the Seller’s rep or b) in the event min fee from Seller is insufficient, how the ‘topping up’ will occur.

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One thought on “SHOULD YOU GO WITH A SHORT OR LONG-TERM MORTGAGE?

  1. Pingback: 40+ “nobody ever explained it like that” Answers to Realty Questions (from my Nov 19/13 Post) —a revived tradition #UncleBobExplains | unclebobexplains

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