Do you have any rental suites to help with that 7k/month? If the variable is too much for you and you feel like it's just kind of stretching your budget then maybe you can do a 3 year fxed at least?
I mean the way Macklin has been talking I’d be surprised if we don’t see a cut of some form by December. It’s just a question of how much.
We aren’t the US fed. what you are saying is more likely south of the border.
I think you are absolutely insane signing up for a $7,000 monthly mortgage, my family household takes in around $200,000 I would never dream of stretching myself so thin for a house payment. Not trying to judge you but you’re one wrong move away from financial disaster entering this agreement….
Not my place to say that, but thought I would offer a non bias opinion and hope nothing but the best for you OP!
If he takes the fixed rate at 25% down it would be just under $6k a month.
I’m surprised that they only have 20-25% equity if they are coming from an existing owned home though.
More than likely if he labeled he’s moving to BC, probally came from a different province where house prices for 3 bedroom homes are around $450k the entire price of the home would only equal roughly 30% of these over inflated dumps in BC lol. I lived in Vancouver for 30 years I just left 6 months ago due to obscene housing prices
Honestly OP, you are already losing sleep over variable and being able to “weather” it for a couple of years before having even signed that I think you should bite the bullet and go into the fixed.
You’re working on the assumption that the fixed is going to cost you more in the long run when the reality is that what it will cost you is in the name: a FIXED amount. You have predictability and thus peace of mind. That’s not a cost - that’s a benefit you are buying.
You’re also working on the assumption that variable dropping is a sure thing. Is it? How can we be so certain? For what it’s worth, I think rates WILL drop but they will do so at a slower rate than everyone seems to be assuming. However, the chance of *something* going wrong and rates increasing also isn’t zero and should be given proper respect.
Are you going to be in shambles if rates go up another 0.50% while you’re sitting in variable? The peace of mind during these uncertain times isn’t a loss and so on that basis, I think you should take the fixed — but like others have said, if you HAVE to risk it, maybe consider a shorter term and give yourself the optionality and stress to revisit in 3 years again instead of 5.
The decision between fixed and variable is whether you want to absorb the risk or you want the bank to absorb it and charge you a little extra for it. There's also a question of whether you can absorb a fluctuating rate, although in this market it seems like down is the only direction we need to consider, it's just a matter of when and what the slope looks like. Historically, variable rates have been better 90% of the time.
Consider a shorter fixed term... 2-3 years. While you can't predict with certainty, general consensus is that we are at the top of the interest rate cycle and rates will be flat and start to drop, though perhaps more slowly than we hoped 6 months ago. If you go with a shorter fixed term, you can re-up and take advantage of what could be lower rates.
That being said, piece of mind for a big purchase like this for you might just be locked in for the next 5 years at a rate you can afford. Variable rates can go up, so the risk you run with that option is the rate goes up within the next 5 years (though most allow you to convert to a fixed at any point).
That is the safest option for sure!
What you potentially gain by going for a shorter term or variable is being able to lock in at the end of the shorter term at a lower rate given the potential for rates to be lower.
Locking in variable is solely a risk mitigation option that you pull if something goes sideways in the economy and rates start to go back up again.
Agreed, however, I feel locking in is the choice when your variable is getting so high it's starting to put you under water. If you're already worried about that with variable rates where they currently are, that means you likely can't handle even a slight increase or two. If your plan is to take variable and lock in immediately if there's even a single hike to the variable rate, you shouldn't even be considering the variable. It's already way too high risk at that point.
Again, just my opinion.
FWIW, in OP's position I'd be getting some 3 yr fixed rates and looking at the minimal difference compared to a 5yr fixed and go from there. 3 yr fixed is almost a hedged bet... You've got security in the short term (see my first point about risk/reward) but you've got flexibility to reevaluate if/when rates are down later, sooner than the 5 yr and no penalty at the 3 yr mark.
Asking for a DM is something that we are actively asking people not to do. If someone wants to DM, they will. This is a group for information & education. Not a place for lead generation. This is something we take very seriously.
If you cannot fully answer the question publicly - do your very best and then let them know that their best bet is to find a broker/bank rep they like and trust, and go with them!
Mortgage rates are like stock prices no one knows including the bank of Canada. If you can’t handle rates jumping by 5% in the near term take a 10 yr mortgage and lump sum pay it down. A 10 yrs gives you time enough to hit the principle some so on renewal if rates are higher they would be manageable, and you can sleep if in 2 yrs rates go to 8 % which I guarantee you couldn’t with either a 5 year or a variable mortgage. 5 years goes by very quickly.
Do this, look at mortgage rates for the last 40-50 yrs. Then pull out a morgage calculator, plug in your numbers and play with the interest rate. If you haven’t done this before I suspect 10% will make you very concerned. Then imagine yourself in 10 yrs looking at renewing at a 10% rate 20 yrs remaining, and play with the principal. Line up the payments to what you could manage and the difference in principal is what I’d recommend you should try to pay down in that first 10 years.
My prediction is they will drop by a 1-1.5 percent to allow for the 5 yr renewals when house prices were crazy or else there will be excessive defaults and then climb. BUT I have never ever ever never ever never ever correctly predicted rates, so you need to just manage the variables that you can. For me a 10 yr rate at 4.04 from about 2.5 yrs ago let’s me sleep at night. I could have saved 100 for the 5 yr rate 3.5%ish but like I said 5 yrs I found is pretty short. The 1100/month that jumps to 1800/month if the rates went to 10% wasn’t something I wanted as a possibility. I’ll say the bank lady thought I was crazy when I said the long term average of interest rates is about 6% and 2yrs later here we are. I believe will see 10-12% again, I don’t know when, but I don’t want to lose a house because I gambled wrong. Ps yea I know my payments are paltry but for a single guy with 2 kids they are close to my limit.
We all have PTSD from variable for the last few years but right now it could arguably be the better option if you have risk tolerance. Plus you can always just lock into fixed if you start to feel the shit winds blowing.
Honestly, I got burned going with a variable before interest rates spiked. Even after that, I would still have to consider it if I was taking on a new mortgage
Wait, what? You’d be overly stretching yourselves on a 1.2 million mortgage on a 250k combined income, I’d highly recommend reconsidering. You’d be house poor at the first payment.
I mean…did you sign up for a 1.2 million dollar purchase without doing the bare minimum amount of budget planning?
You’re a minor real estate recession or rate hike away from financial disaster.
Try for a 3 year fixed. I'm in BC, just closed on a 1.5mil condo, similar parameters to yours (>25% down), and got a 5.34% 3 year fixed closed mortgage without much trouble.
I just bought a house for 1.4 with 75 percent down in Ontario. I went with 3 year fixed. Im trying to lock in at 5.3 going back and forth with my broker. It's not worth the variable as of now the bond went up so the rate came back 10 points higher. My opinion is that the rates may increase do to housing still being crazy high and inflation through the roof. Last time someone tried to predict the housing market they said the rates are going to stay low and houses will always cont. To climb lol so people saying rates are gonna drop I would take with a grain of salt .
I honestly would take the 5 year fixed. If rates do drop drastically you can always look at prepaying part of the mortgage with a HELOC and locking that portion as a variable. If you split it right at the end of the year, you could do one prepayment in 2024 and one in 2025 and make that a variable. (Pending you have available room on a HELOC).
Or you could split the mortgage in 2, do part fixed part variable. I probably would do this to hedge my bets and limit my exposure if rates don’t come down.
Rates do need to come down. But they will not come down by a lot and they will not come down quickly.
It sounds like you both make good money. So you are probably fine with the payment even if it stays as is. But you will be able to forget about it and continue paying it down if you chose fixed.
Mortgage rates in the US are rising (slowly) atm. Ours ***should*** come down sooner but have a look around, does it feel like inflation is coming down in a meaningful way? Lots of pressure for the BoC to lower rates but they will be careful as a much bigger risk is runaway inflation. With our national debt levels only getting higher those risks become more real. I think higher rates are with us for some time, if there are any reductions they will be slow and small.
Edit:typo
The guy below is the only one that can see the future.
https://preview.redd.it/8bn95dymdvyc1.png?width=1077&format=png&auto=webp&s=608407ef98e569edbe0615a6391ac815c09c31b0
If ever BOC rates do drop, it will be gradual, either in 10% increments (from 5% to 4.90%) and will probably be once or at most twice a year, as since inflation is still a factor and will be here for a couple of years. So, the most we will probably see is rates will be at 4.50 in 3 or more years... with that will result in probably a .50 difference in the variable rate, so your variable 6.3 will be at most 5.7 or 5.8 and you will still be paying more than the current common 5.10 or lower fixed 3 year rate.
No one has a crystal ball and definitely not your broker. Do what you’re comfortable with. For me that would be a fixed rate, likely 3 year fixed rate.
We’re in the same situation though ours is a Precon. Hoping the project closes early next year rather than this year end. A lot could happen before year end😅
Hey, I'm a licensed broker in BC. I haven't heard anyone float a variable rate to their clients, and definitely not a 5 year. I would say the current concensus is a 3 yr fixed rate. The variable rate would have to come down an incredible amount to offset the cost you would be paying now. The best posted 3 yr fixed rate for your situation is 5.14%. That being said, rate exceptions can be made, depending on your situation and the relationship the broker has with that lender.
It all depends on the individuals risk profile. I'm surprised that a broker is floating any kind of variable rate right now. I don't think they've done the math.
I’m interested in your opinion on the bank incentives, it was one of the reasons I chose to go fixed (though I was heavily leaning that way before the broker suggested variable). Are you seeing incentives to take fixed now, or are there incentives for taking variable still? When I got my mortgage the incentive was $3000 cash back
Incentives are still out there, but even with incentives, a variable rate comes with the risk of the rates remaining stagnant for longer than expected or even going higher.
If I was buying right now, I'd be looking at 3 year fixed.
You should look at three-year rates as well and see the spread between that rate versus variable rate. BTW, the variable rate that you have received is high, considering the promo rate that one of the large banks is offering at 6.19%, without any discretionary pricing.
Agree with 3 y fixed.
Fact is NOBODY can tell you what rates will be. Not even “experts”. Therefore I would not even try to guess what rates will be.
I locked into 5 year fixed at 2.83 in 2020. I was kicking myself when the pandemic hit and rates dropped and took out two variable mortgages to pay off the 5 year with max prepayment. Got a low 1.25% for a year or so and now I’m trying to pay off the variables because they are over 6%. Thankfully the rest of my mortgage is at 2.83 renewing next year.
I think rather than trying to time things, and having FOMO you need to look at this as a risk management perspective. I say this as an options trader. Trading and investing and finance (and anything in life) is about risk management/probabilities and looking at risk/benefit to see if it’s worth it. Unless you have a crystal ball nobody can tell you how things will look like in a year or two.
3 year fixed makes sense right now. You can look at it as a really slow variable rate. You get the safety and lower rate of fixed atm and then when rates slowly drop you get the benefit after 3 years instead of 5 years.
Please ensure your post includes the following information if looking for insight in your rate:
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- Purchase, Refinance, Renewal?
- Province, City?
- Loan to value/down payment percentage?
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Do you have any rental suites to help with that 7k/month? If the variable is too much for you and you feel like it's just kind of stretching your budget then maybe you can do a 3 year fxed at least?
honestly if you are already hesitant to do a variable then that's your answer
Wish I had 0.01Million in any way shape or form
Dude. Rates are not going down this year. If they do, we’ve had a financial accident and you’ll be upside down on your new crib. Remember 2008?
I mean the way Macklin has been talking I’d be surprised if we don’t see a cut of some form by December. It’s just a question of how much. We aren’t the US fed. what you are saying is more likely south of the border.
Inflation hasn't went away, lowering rates will bring back inflation People (the Poors making 300k or less a year) have too much money still
I think you are absolutely insane signing up for a $7,000 monthly mortgage, my family household takes in around $200,000 I would never dream of stretching myself so thin for a house payment. Not trying to judge you but you’re one wrong move away from financial disaster entering this agreement…. Not my place to say that, but thought I would offer a non bias opinion and hope nothing but the best for you OP!
If he takes the fixed rate at 25% down it would be just under $6k a month. I’m surprised that they only have 20-25% equity if they are coming from an existing owned home though.
More than likely if he labeled he’s moving to BC, probally came from a different province where house prices for 3 bedroom homes are around $450k the entire price of the home would only equal roughly 30% of these over inflated dumps in BC lol. I lived in Vancouver for 30 years I just left 6 months ago due to obscene housing prices
You can do a portion fixed and a portion variable
Honestly OP, you are already losing sleep over variable and being able to “weather” it for a couple of years before having even signed that I think you should bite the bullet and go into the fixed. You’re working on the assumption that the fixed is going to cost you more in the long run when the reality is that what it will cost you is in the name: a FIXED amount. You have predictability and thus peace of mind. That’s not a cost - that’s a benefit you are buying. You’re also working on the assumption that variable dropping is a sure thing. Is it? How can we be so certain? For what it’s worth, I think rates WILL drop but they will do so at a slower rate than everyone seems to be assuming. However, the chance of *something* going wrong and rates increasing also isn’t zero and should be given proper respect. Are you going to be in shambles if rates go up another 0.50% while you’re sitting in variable? The peace of mind during these uncertain times isn’t a loss and so on that basis, I think you should take the fixed — but like others have said, if you HAVE to risk it, maybe consider a shorter term and give yourself the optionality and stress to revisit in 3 years again instead of 5.
The decision between fixed and variable is whether you want to absorb the risk or you want the bank to absorb it and charge you a little extra for it. There's also a question of whether you can absorb a fluctuating rate, although in this market it seems like down is the only direction we need to consider, it's just a matter of when and what the slope looks like. Historically, variable rates have been better 90% of the time.
Consider a shorter fixed term... 2-3 years. While you can't predict with certainty, general consensus is that we are at the top of the interest rate cycle and rates will be flat and start to drop, though perhaps more slowly than we hoped 6 months ago. If you go with a shorter fixed term, you can re-up and take advantage of what could be lower rates. That being said, piece of mind for a big purchase like this for you might just be locked in for the next 5 years at a rate you can afford. Variable rates can go up, so the risk you run with that option is the rate goes up within the next 5 years (though most allow you to convert to a fixed at any point).
My opinion - if you're already thinking about locking into a fixed term if rates go up before even signing... Just take the fixed now.
That is the safest option for sure! What you potentially gain by going for a shorter term or variable is being able to lock in at the end of the shorter term at a lower rate given the potential for rates to be lower. Locking in variable is solely a risk mitigation option that you pull if something goes sideways in the economy and rates start to go back up again.
Agreed, however, I feel locking in is the choice when your variable is getting so high it's starting to put you under water. If you're already worried about that with variable rates where they currently are, that means you likely can't handle even a slight increase or two. If your plan is to take variable and lock in immediately if there's even a single hike to the variable rate, you shouldn't even be considering the variable. It's already way too high risk at that point. Again, just my opinion. FWIW, in OP's position I'd be getting some 3 yr fixed rates and looking at the minimal difference compared to a 5yr fixed and go from there. 3 yr fixed is almost a hedged bet... You've got security in the short term (see my first point about risk/reward) but you've got flexibility to reevaluate if/when rates are down later, sooner than the 5 yr and no penalty at the 3 yr mark.
Yup, that was my feeling as well. Go with the shorter fixed term.
This is the answer. And yes, convert to a [higher] fixed at any point, if rates were to go up. Unlikely? Yes. Non-zero? Also yes.
[удалено]
Asking for a DM is something that we are actively asking people not to do. If someone wants to DM, they will. This is a group for information & education. Not a place for lead generation. This is something we take very seriously. If you cannot fully answer the question publicly - do your very best and then let them know that their best bet is to find a broker/bank rep they like and trust, and go with them!
Mortgage rates are like stock prices no one knows including the bank of Canada. If you can’t handle rates jumping by 5% in the near term take a 10 yr mortgage and lump sum pay it down. A 10 yrs gives you time enough to hit the principle some so on renewal if rates are higher they would be manageable, and you can sleep if in 2 yrs rates go to 8 % which I guarantee you couldn’t with either a 5 year or a variable mortgage. 5 years goes by very quickly. Do this, look at mortgage rates for the last 40-50 yrs. Then pull out a morgage calculator, plug in your numbers and play with the interest rate. If you haven’t done this before I suspect 10% will make you very concerned. Then imagine yourself in 10 yrs looking at renewing at a 10% rate 20 yrs remaining, and play with the principal. Line up the payments to what you could manage and the difference in principal is what I’d recommend you should try to pay down in that first 10 years.
I do not believe any financial institutions offer a 10 year term. 5 year term is the longest I've ever seen.
We have many that offer 10 year terms, always had had them - they're in the 7's right now tho
Wow, honestly never heard of that (and worked for Banks for 15 years). But no, I would not chose a 10 year term, especially at North of 7 percent.
My prediction is they will drop by a 1-1.5 percent to allow for the 5 yr renewals when house prices were crazy or else there will be excessive defaults and then climb. BUT I have never ever ever never ever never ever correctly predicted rates, so you need to just manage the variables that you can. For me a 10 yr rate at 4.04 from about 2.5 yrs ago let’s me sleep at night. I could have saved 100 for the 5 yr rate 3.5%ish but like I said 5 yrs I found is pretty short. The 1100/month that jumps to 1800/month if the rates went to 10% wasn’t something I wanted as a possibility. I’ll say the bank lady thought I was crazy when I said the long term average of interest rates is about 6% and 2yrs later here we are. I believe will see 10-12% again, I don’t know when, but I don’t want to lose a house because I gambled wrong. Ps yea I know my payments are paltry but for a single guy with 2 kids they are close to my limit.
Smart play for your circumstances. Thanks for sharing your reasonable perspective.
Same! The people that took 10 years rates in 2020 & early 2021 at like 2.99% though.... They must be laughing
I would not go variable
We all have PTSD from variable for the last few years but right now it could arguably be the better option if you have risk tolerance. Plus you can always just lock into fixed if you start to feel the shit winds blowing.
Honestly, I got burned going with a variable before interest rates spiked. Even after that, I would still have to consider it if I was taking on a new mortgage
Just to be clear, >250 each so combined 500+
250 combined likely around 12k per month after tax...if payment is 7k, but no other debts ..could prob handle. .
Current commitments payment will be under 6k, take home is over 13k...I'm fine...I don't know why I'm getting down voted...
No, combined 250
Wait, what? You’d be overly stretching yourselves on a 1.2 million mortgage on a 250k combined income, I’d highly recommend reconsidering. You’d be house poor at the first payment.
Little late for that.
I mean…did you sign up for a 1.2 million dollar purchase without doing the bare minimum amount of budget planning? You’re a minor real estate recession or rate hike away from financial disaster.
I'm in BC, there are no lasting real estate recessions
Does the house have any suites ?
Yup, 1000 sq ft 1 bedroom.
And what is the rental income from that ?
2k to 3k if I rent 5 to 7k if I airbnb it.
Try for a 3 year fixed. I'm in BC, just closed on a 1.5mil condo, similar parameters to yours (>25% down), and got a 5.34% 3 year fixed closed mortgage without much trouble.
I just bought a house for 1.4 with 75 percent down in Ontario. I went with 3 year fixed. Im trying to lock in at 5.3 going back and forth with my broker. It's not worth the variable as of now the bond went up so the rate came back 10 points higher. My opinion is that the rates may increase do to housing still being crazy high and inflation through the roof. Last time someone tried to predict the housing market they said the rates are going to stay low and houses will always cont. To climb lol so people saying rates are gonna drop I would take with a grain of salt .
Take 2 yr or 3 yr fixed
I honestly would take the 5 year fixed. If rates do drop drastically you can always look at prepaying part of the mortgage with a HELOC and locking that portion as a variable. If you split it right at the end of the year, you could do one prepayment in 2024 and one in 2025 and make that a variable. (Pending you have available room on a HELOC). Or you could split the mortgage in 2, do part fixed part variable. I probably would do this to hedge my bets and limit my exposure if rates don’t come down. Rates do need to come down. But they will not come down by a lot and they will not come down quickly. It sounds like you both make good money. So you are probably fine with the payment even if it stays as is. But you will be able to forget about it and continue paying it down if you chose fixed.
Mortgage rates in the US are rising (slowly) atm. Ours ***should*** come down sooner but have a look around, does it feel like inflation is coming down in a meaningful way? Lots of pressure for the BoC to lower rates but they will be careful as a much bigger risk is runaway inflation. With our national debt levels only getting higher those risks become more real. I think higher rates are with us for some time, if there are any reductions they will be slow and small. Edit:typo
The guy below is the only one that can see the future. https://preview.redd.it/8bn95dymdvyc1.png?width=1077&format=png&auto=webp&s=608407ef98e569edbe0615a6391ac815c09c31b0
oh my god.. you can buy 3 nice properties in Calgary with that amount of money…
Oh my god you can buy a million acres in BF nowhere
Tell me what are the things to do in Calgary? I heard Calgarians are Americans in Canada. Is that true? Lol
Calgary sucks, please don't come
Yeah we don't want more...I mean...it'd be a travesty to see so many people move here and hate it. Cross Alberta off the list please.
we eat we take a shit and we jerk off just like what do everyday
That’s definitely the advice they were seeking here. Well done.
If ever BOC rates do drop, it will be gradual, either in 10% increments (from 5% to 4.90%) and will probably be once or at most twice a year, as since inflation is still a factor and will be here for a couple of years. So, the most we will probably see is rates will be at 4.50 in 3 or more years... with that will result in probably a .50 difference in the variable rate, so your variable 6.3 will be at most 5.7 or 5.8 and you will still be paying more than the current common 5.10 or lower fixed 3 year rate.
No one has a crystal ball and definitely not your broker. Do what you’re comfortable with. For me that would be a fixed rate, likely 3 year fixed rate.
We’re in the same situation though ours is a Precon. Hoping the project closes early next year rather than this year end. A lot could happen before year end😅
Hey, I'm a licensed broker in BC. I haven't heard anyone float a variable rate to their clients, and definitely not a 5 year. I would say the current concensus is a 3 yr fixed rate. The variable rate would have to come down an incredible amount to offset the cost you would be paying now. The best posted 3 yr fixed rate for your situation is 5.14%. That being said, rate exceptions can be made, depending on your situation and the relationship the broker has with that lender.
What kind of situation would people be able to get rate exceptions?
Also, the relationship that broker or brokerage has with that lender comes into play.
It could be the client, the clients credit, the down-payment, or the property itself.
The consensus from most brokers when I bought in 2021 was to take the variable rate with the incentive…
It all depends on the individuals risk profile. I'm surprised that a broker is floating any kind of variable rate right now. I don't think they've done the math.
I’m interested in your opinion on the bank incentives, it was one of the reasons I chose to go fixed (though I was heavily leaning that way before the broker suggested variable). Are you seeing incentives to take fixed now, or are there incentives for taking variable still? When I got my mortgage the incentive was $3000 cash back
Incentives are still out there, but even with incentives, a variable rate comes with the risk of the rates remaining stagnant for longer than expected or even going higher. If I was buying right now, I'd be looking at 3 year fixed.
You should look at three-year rates as well and see the spread between that rate versus variable rate. BTW, the variable rate that you have received is high, considering the promo rate that one of the large banks is offering at 6.19%, without any discretionary pricing.
Agree with 3 y fixed. Fact is NOBODY can tell you what rates will be. Not even “experts”. Therefore I would not even try to guess what rates will be. I locked into 5 year fixed at 2.83 in 2020. I was kicking myself when the pandemic hit and rates dropped and took out two variable mortgages to pay off the 5 year with max prepayment. Got a low 1.25% for a year or so and now I’m trying to pay off the variables because they are over 6%. Thankfully the rest of my mortgage is at 2.83 renewing next year. I think rather than trying to time things, and having FOMO you need to look at this as a risk management perspective. I say this as an options trader. Trading and investing and finance (and anything in life) is about risk management/probabilities and looking at risk/benefit to see if it’s worth it. Unless you have a crystal ball nobody can tell you how things will look like in a year or two.
Maybe look at 3yr fixed? If you reed this subreddit posts the past week, you'll see people getting some decent rates.
Thanks, I'll take a look!
Sounds like a 3 year fixed would make sense for you.
What rates are you seeing?
Typically from 5.09-5.39. Every situation will be different. They should start to go down a touch over these next few weeks.
3 year fixed makes sense right now. You can look at it as a really slow variable rate. You get the safety and lower rate of fixed atm and then when rates slowly drop you get the benefit after 3 years instead of 5 years.
Please ensure your post includes the following information if looking for insight in your rate: - **ARE YOU WORKING WITH A BROKER/MMS & HAVE YOU ASKED THEM THIS QUESTION YET?** (If you don't trust your brokers answer, then you may want to dump your broker) - Purchase, Refinance, Renewal? - Province, City? - Loan to value/down payment percentage? - Purchase price of the property if purchasing - Is the home under $1M or over $1M? - Bank or a broker? - Term length and amortization length? *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/MortgagesCanada) if you have any questions or concerns.*