Hi, Guest
In the big scheme of things:
"BMO Bank of Montreal says homebuyers could save an average of $2,500 in insurance premiums, based on an average home price of $300,000."
and over the course of a 25 year mortgage it's not a big deal but every little bit helps I guess. Over the course of the past 8 years my house has appretiated more than that each month.
If I were in the market I wouldn't hold off to get a 25% or even 20% downpayment, go for it as soon as you have 10% together would be my recomendation especially with the interest situation.
I was considering a second property myself in the west end just last year.
"BMO Bank of Montreal says homebuyers could save an average of $2,500 in insurance premiums, based on an average home price of $300,000."
and over the course of a 25 year mortgage it's not a big deal but every little bit helps I guess. Over the course of the past 8 years my house has appretiated more than that each month.
If I were in the market I wouldn't hold off to get a 25% or even 20% downpayment, go for it as soon as you have 10% together would be my recomendation especially with the interest situation.
I was considering a second property myself in the west end just last year.
2001 Focus ZTS 2004 WRX
"I'm just here for the camping"
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TEAM P.I.T.A. FTW!
"I'm just here for the camping"
http://www.facebook.com/profile.php?id=687620231
TEAM P.I.T.A. FTW!