The Problem Of Money

Ugh. Ok, things are moving nice and quickly, in a way I guess. The house inspection is going to happen this afternoon, and I met with the mortgage broker last night. My current stress out is getting money out of somewhere (a stone maybe?) to to make the 10% down instead of 5%, so I can get an interest rate of 3% instead of 5%. If I can’t, it’s not huge I guess, but it’d be nice. Even still having some extra liquid cash to buy things like a new fridge, flooring, and so on.

My calls to the two banks have encountered two similarities…

  • “where are you getting your mortgage” / “well we can match any rate you get” / “<whine><whine>”. Apparently being a loyal customer for the last 25 years but deciding to go with someone else for my mortgage really pisses people off.
  • “your RRSPs are locked in and you have to pay a fee to withdraw them early”
  • “to give you a print out of your account statement will cost $35 because you have a non-statement account” (I don’t have monthly statements sent to me… this was the one that blew my mind.

And they talk about the “big banks” being cold and impersonal! Might be time to take my eggs out of many baskets and put them all in one and just never deal with anyone different ever again.

I am considering either just going with the 5% down (which I can scrape up somewhere) or taking a short term loan out to cover the amount up to 10%. Though the fees to taking money out of my RRSP early are still less than what I’d pay in interest on the loan ($200-300). Of course it all has to be done RIGHT NOW as well. Yay.

Mucho thanks to all who replied to my last post with congrats encouragement and advice by the way.

UPDATE: Apparently people are stupid. I guess my Mutual Funds, of which I have many thanks to a double-dipping incident a couple of years back (too lazy to find link to rant), don’t come up as RRSP. The RRSPs I do have are locked in, but the mutal funds I have aren’t. So I have an appointment to see someone about getting those dealt with this afternoon. Huge thanks out to my man Gary M over at Envisions Young St. branch in Chilliwack for helping me out.

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