How does Prime (2.85%) -.65 = 2.2% sound??? (as of Feb 26th '15)
DO THE MATH - Take your outstanding balance on your mortgage and multiply by 379.20 per $100,000. to get a monthly payment.
EXAMPLE: You owe $240,000 ($379.20 X $2.4 = $ $910.08 per month)
Pay every 2 weeks $455.04 (accelerated bi-weekly) and save $10,581.60 in interest over the 30 year amortization of your mortgage.
Add any other debts - PLC or CC debt etc. to your mortgage and REDUCE MONTHLY DEBT.
REMEMBER. You are spending after tax money on your mortgage. If you can save on interest and shorten the life of your mortgage then you have more to spend on other things. You'll be less house-poor.
Call me 604 230-9392 for a No Obligation 2nd Opinion.
