June 22, 2007
Posted June 29, 2007 12:00 pm.
This article is more than 5 years old.
Monster Mortgage
Dave Currie from Monster Mortgage answered a viewer’s question about the apparent discrepancy between the monthly mortgage payments she saw advertised on television and what she’s being asked to pay. The viewer is paying $1,100 a month on a $190,000 mortgage, while the $200,000 mortgage she saw on TV was talking about monthly payments of $600. Currie explained that the difference likely comes down to the amortization period. The viewer has a 25-year mortgage, but if she were to stretch that to 35-45 years, as is common in the U.S., she could be paying less per month.
http://www.monstermortgage.ca/
Daniel Ellenberg
Daniel Ellenberg answered a viewer’s question about where to buy a one-bedroom with parking condo in Toronto for about $200,000 by suggesting they broaden their horizons to include not just the downtown but east and west of the city. He suggests looking in Scarborough, in the east, and near Windermere and the Queensway in the west.
Tridel
Scott McLellan from Tridel talked about the fact that more condos are being sold. “We’re seeing new condos pop up in areas that are traditionally single family areas. Now Durham, Peel, Mississauga, and in the 416, new condos are sprouting up, not single family homes anymore.”
