咨询：line of credit （home equity）和mortage 的优劣比较

[LifeIsBeautiful]

I have been shopping around, but the information i 've got is contradictory.

TD说 Home equity LINE　OF　CREDIT　好，　利率低.　可是我在想，如果卖房的时候，　Home equity LINE　OF　CREDIT还没还清，　怎么办？

 

[京华倦客]

secured line of credit, low interest, 但是对你的debt load有很淫荡的影响。。。

mortgage 就是个loan，每个月pay 点儿，老省心了。。。

-------------------------我是思维断裂层---------------------

secured line of credit, secured on the house, rate AT prime，所以随时，prime走它也走，它陪prime去喂狗。。。

mortgage，如果能弄variable的，大部分银行都是prime 减 0.60%，甚至更多，利息上高下立辨。。。

------------------------我去接了杯水---------------

最主要的是，看你需要怎么用。。。

renovation，不知道要花多少钱，当然line of credit比较好。。。

如果是mortgage剩了不到五年，尽量push你的rep让他给你个小于5年的variable mortgage，省interest省下来的钱，就请我下馆子吧。。。

-----------------说不下去了，总结一下----------------------------

基本上，interest 上来看，Secured Line of Credit @ prime (4.75%), Variable Mortgage @ prime - 0.60% (4.15%) 两个利率要变一块儿变，摽着膀子变。。。

Flexibility Secured Line Of Credit，用多少，收多少interest。。。用太多了，还不及还可以弄个mortgage把它填了。。。

Mortgage low weekly/biweekly/monthly payment，省心，但是一次只能整那么多，多了还得补交手续费、挂号费、文件处理费、停车费、交通费、早餐甜圈圈费、计划生育费、超生游击费。。。

总而言之，因人而异。。。

具体咋办，多看几家最好。。。

我，在Merivale上Loblaws的那个President's Choice Financial，欢迎光临。。。

因为，那里人很少。。。

您有可能在pavilion里找不到我。。。

不用着急，我肯定是在门口逮小鸟。。。

 

[LifeIsBeautiful]

哈哈，你太牛了！ 我一下就清楚了。太谢谢了。如果你是做这一行的，请给我悄悄话，俺给你联系。

secured line of credit, low interest, 但是对你的debt load有很淫荡的影响。。。

mortgage 就是个loan，每个月pay 点儿，老省心了。。。

-------------------------我是思维断裂层---------------------

secured line of credit, secured on the house, rate AT prime，所以随时，prime走它也走，它陪prime去喂狗。。。

mortgage，如果能弄variable的，大部分银行都是prime 减 0.60%，甚至更多，利息上高下立辨。。。

------------------------我去接了杯水---------------

最主要的是，看你需要怎么用。。。

renovation，不知道要花多少钱，当然line of credit比较好。。。

如果是mortgage剩了不到五年，尽量push你的rep让他给你个小于5年的variable mortgage，省interest省下来的钱，就请我下馆子吧。。。

-----------------说不下去了，总结一下----------------------------

基本上，interest 上来看，Secured Line of Credit @ prime (4.75%), Variable Mortgage @ prime - 0.60% (4.15%) 两个利率要变一块儿变，摽着膀子变。。。

Flexibility Secured Line Of Credit，用多少，收多少interest。。。用太多了，还不及还可以弄个mortgage把它填了。。。

Mortgage low weekly/biweekly/monthly payment，省心，但是一次只能整那么多，多了还得补交手续费、挂号费、文件处理费、停车费、交通费、早餐甜圈圈费、计划生育费、超生游击费。。。

总而言之，因人而异。。。

具体咋办，多看几家最好。。。

我，在Merivale上Loblaws的那个President's Choice Financial，欢迎光临。。。

因为，那里人很少。。。

您有可能在pavilion里找不到我。。。

不用着急，我肯定是在门口逮小鸟。。。

 

[bsecurity]

Good answers!

 

[耳朵]

赞5个

secured line of credit, low interest, 但是对你的debt load有很淫荡的影响。。。

mortgage 就是个loan，每个月pay 点儿，老省心了。。。

-------------------------我是思维断裂层---------------------

secured line of credit, secured on the house, rate AT prime，所以随时，prime走它也走，它陪prime去喂狗。。。

mortgage，如果能弄variable的，大部分银行都是prime 减 0.60%，甚至更多，利息上高下立辨。。。

------------------------我去接了杯水---------------

最主要的是，看你需要怎么用。。。

renovation，不知道要花多少钱，当然line of credit比较好。。。

如果是mortgage剩了不到五年，尽量push你的rep让他给你个小于5年的variable mortgage，省interest省下来的钱，就请我下馆子吧。。。

-----------------说不下去了，总结一下----------------------------

基本上，interest 上来看，Secured Line of Credit @ prime (4.75%), Variable Mortgage @ prime - 0.60% (4.15%) 两个利率要变一块儿变，摽着膀子变。。。

Flexibility Secured Line Of Credit，用多少，收多少interest。。。用太多了，还不及还可以弄个mortgage把它填了。。。

Mortgage low weekly/biweekly/monthly payment，省心，但是一次只能整那么多，多了还得补交手续费、挂号费、文件处理费、停车费、交通费、早餐甜圈圈费、计划生育费、超生游击费。。。

总而言之，因人而异。。。

具体咋办，多看几家最好。。。

我，在Merivale上Loblaws的那个President's Choice Financial，欢迎光临。。。

因为，那里人很少。。。

您有可能在pavilion里找不到我。。。

不用着急，我肯定是在门口逮小鸟。。。

 

[LifeIsBeautiful]

赞5+5个

 

[京华倦客]

其实，那些broker也不能真地说是故作玄虚，这个能贷多少钱也是比较侧重于：1。还贷能力，也就是说工资、信用度、抵押等等；2。Loan to Value Ratio，你贷的mortgage和房子价值的比例。80%一下可以免CMHC（保护银行的机构）保险。最高的一般银行都能给贷95%。

所以说，最重要的还是要看你要什么。听你这意思是要买新房子，想先有个大概price range 然后再去看房子？

-----------如果 是，请按1；不是 请按 2-------

如果是的话，那就跟他们说你也不确定要什么样的房子，就是想看看靠你（和你家人）的信用度、工资、能抵押的东西 能贷多少mortgage，那些broker应该也是能够给你找个好deal的。

除了mortgage broker以外，我只听说scotia这个夏天在很疯狂的卖mortgage。我们5年fixed rate是5.64%，他们最低的我听人说有过4.92% 最不济也是5.20% 如果适合我们银行的mortgage 一样flexible的话，那简直是无法拒绝。

----------下面是闲话----------

我一个客户闲聊的时候跟我说，Scotia, TD 还有一个什么银行开通了一项新服务，叫做 Income Damming。

就是怎么着的先给mortgage----> 然后拿这个有mortgage的房子办一个secured line of credit (@ prime 4.75)-------〉然后用这个line of credit的钱去投资一个锁定七年，保证年息在8%的investment account--------〉再然后用这个利息pay off mortgage。

据说这个income damming 可以把一个25年的mortgage 用七年的时间全部pay 完。

神奇啊。。。

所以我十分诚恳的建议你去TD 和 Scotia 问问。。。

我也在催我父母去问。。。

不过他们很懒。。。

-------------------------我觉得我写的还成--------

 

[LifeIsBeautiful]

打倒这句话，虽然是大实话。
建议大家都读读。真是大实话啊

-------------------------我觉得我写的还成--------[/quote]

 

[mortgagegopher]

----------下面是闲话----------

我一个客户闲聊的时候跟我说，Scotia, TD 还有一个什么银行开通了一项新服务，叫做 Income Damming。

就是怎么着的先给mortgage----> 然后拿这个有mortgage的房子办一个secured line of credit (@ prime 4.75)-------〉然后用这个line of credit的钱去投资一个锁定七年，保证年息在8%的investment account--------〉再然后用这个利息pay off mortgage。

据说这个income damming 可以把一个25年的mortgage 用七年的时间全部pay 完。

神奇啊。。。

It is the Smith Manoeuvre investment approach. (The Smith Manoeuvre - is your mortgage tax deductible? )

The whole idea is about good debt and bad debt in Canada.
- Good debt: e.g. a loan borrow to invest, and the interest payment is tax deductable.
- Bad debt: e.g. a mortgage loan for a personal home, and the interest payment is not tax deductable.

In brieft, the approach is to borrow money for income generating investment. (i.e. not target for capital gain because of the taxation rule). The interest paid for the loan to invest in income generating investment is tax deductable (Line 221 in personal tax return). So, you get the tax refund of the amount of investment interest that you paid last year. Then, you pay back the mortgage balance using the tax refund.

People usually borrow the investment loan in term of home equity line of credit (HELOC). i.e. lower interest rate. So, the more mortgage principle is paid, the more amount of HELOC is available for investment. With some financial institutes' special mortgage/borrowing plans, the HELOC credit limit is increased every time (i.e. week, 2-weeks, month) you paid back the mortgage principle.

From my understanding, this approach may affect a personal credit score in Canada because of the huge amount of HELOC loan shown in the credit report.

It may not be good for certain people when it comes to mortgage renewal time. It is because banks and other financial institutes are not usually considered the income generating investment (e.g. payout from income trust or the dividend from bank stocks) as a stable income.

 

[京华倦客]

It is the Smith Manoeuvre investment approach. (The Smith Manoeuvre - is your mortgage tax deductible? )

The whole idea is about good debt and bad debt in Canada.
- Good debt: e.g. a loan borrow to invest, and the interest payment is tax deductable.
- Bad debt: e.g. a mortgage loan for a personal home, and the interest payment is not tax deductable.

In brieft, the approach is to borrow money for income generating investment. (i.e. not target for capital gain because of the taxation rule). The interest paid for the loan to invest in income generating investment is tax deductable. So, you get the tax refund of the "investment interest" deductable. Then, you pay back the mortgage balance using the tax refund.

People usually borrow the investment loan in term of home equity line of credit (HELOC). So, the more mortgage principle is paid, the more amount of HELOC is available for investment. i.e. with some financial institutes' mortgage/borrowing plan, the HELOC credit limit is increased every time (i.e. week, 2-weeks, month) you paid back the mortgage principle.

From my understanding, this approach may affect a personal credit score in Canada because of the huge amount of HELOC loan as shown in the credit report.

It may be good for some people (i.e. with stable income or having a government job). It may not be good for other people when it comes to mortgage renewal time.

这下清楚多了，我也就是道听途说