Danes Get 20-Year 0% Mortgages

Re:Danes Get 20-Year 0% Mortgages by BunsanSpace on Tuesday January 05, 2021 @04:17PM (#25651200)

Thank god Canada created the CMHC which would insure loans and allow you a down payment as low as 5% for first time buyers.

ironically because the loans where insured they offered lower interest rates on these loans, which meant they costed almost the same as 20% uninsured loans (you paid the insurance premium on-top of your mortgage payment).

even if you have a 20% down it made more sense to put 5% down and put the rest into the index funds or a HISA.

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Re:Danes Get 20-Year 0% Mortgages by tathougies on Tuesday January 05, 2021 @04:52PM (#25651656)

In the USA, first-time homebuyers can put 3.5% down with an FHA loan, but they have to pay insurance until they reach 20% equity.

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Re:Danes Get 20-Year 0% Mortgages by sneeze-slayer on Tuesday January 05, 2021 @06:43PM (#25652902)

Anyone can do that, not just first time purchasers.

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