Quote:
Originally Posted by BrownDrake
This is a forum full of opinions, find yourself a bank manager or executive you really trust and ask him/her some questions.
I won't get into my personal experiences with who and where but it has also happened to me, I knew going in it would, and played out exactly like I expected. I put 60% down, when I wouldn't listen to my banker, they actually brought in a financial planner for me, spreadsheets an all showing how much more sense it made to go with 10% down and CMHC, invest my other 50% for 8% returns, while only paying 3.5% on my mortgage.
And I could really care less if you believe what I'm telling you.
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You sure showed them! Assuming a $500,000 house that 5% spread on your down payment over the last 5 years would have earned you almost $70,000. Subtract the $10,000 or whatever CMHC fees are and you're still up $60k. Please explain how you came out on top here...
Edit:
And yes, this is a forum full of opinions. In my opinion in this low rate environment you can do very well by maximizing your mortgage. That is of course if you actually save/invest the difference...