Re:Renting is Throwing Money Away, Right? (2015)
by refurb on Monday April 23, 2018 @11:08AM
(#16904047)
There is in Canada! Mortgages have 5-year terms, but 30 year amortization. When you renew at the end of your 5-year term, the mortgage company can ask for an appraisal and ask you to cough up enough money to maintain 80% loan-to-value.
That's even if you keep the exact same mortgage and bank.
That's even if you keep the exact same mortgage and bank.