Topic: Good Mortgage Calculator

[marineboy]

I remember I was in high school when they changed to litres. The price was 17 cents a litre. I recall the price because I was trying to keep a 68' Galaxy fed at the time.

[safristi]

Marine BOY that woz inna Galaxy long long ago.......................now we have REAL KARS..............

[wing]

Ok it seems the tax man is the biggest winner in all cases so the only sensible method is to RRSP a chunk of money and take the "return" back and put down on the mortgage. 

I'm going to do that, even though the "return" isn't a return but a reduction in the amount I will be putting out I will just take that "extra" and plunk it on the mortgage.

A new car would be more fun though.

[wing]

My financial adviser did some number crunching and it was quite interesting.  Of course some of the data points used were guesstimates the numbers looked very realistic.  Interestingly enough putting money on the house and not the RRSP was only 1.2% better over a 25 year period.  So it's not a landslide win for the RRSP but it makes more sense in the short term so I'm going with it.

[Ex-airbalancer]

My financial adviser did some number crunching and it was quite interesting.  Of course some of the data points used were guesstimates the numbers looked very realistic.  Interestingly enough putting money on the house and not the RRSP was only 1.2% better over a 25 year period.  So it's not a landslide win for the RRSP but it makes more sense in the short term so I'm going with it.

But what happens if rates increase to 22% again

[tpl]

However you get there, being debt free is a GOOD THING.