Recent content by Spartiatis

As mentioned above, Firstline and CIBC can use the $25k interest free loan towards your mortgage, whereby $25k of your mortgage interest is covered by the customized envelope. Its offered through Group Mortgages, which does not have a contract with DND, rather they have an arrangement with...

Lots of good advice, along with getting in contact with a mortgage professional before hand, its always a good idea to get started early on MLS and contact a real estate agent in your new location. Also, it is recommended highly that you use a lawyer on the IRP approved list. Cheers T

I work in the mortgage financing industry, specializing in IRP relocations; (DND/RCMP/GOC). I've been helping DND members with their relocations for the past 7 years, thus I'm very familiar with the IRP program and how to best use the funds in your financial worksheets towards your mortgage. I...

I just wanted to share some tips in regards to prepping yourself for upcoming HHT?, for some it might be a new process, while others are well versed in the whole process. Part of the process is arranging for financing for your new purchase in your new location: 1 - have your IRP meeting and...

That's an excellent feature for DND members to have 3 months interest penalty instead of IRP. Especially in a low rate environment, the IRP can be very high. Nix says it best, do your research, know all the options, and compare before you go commit to anything. T

Are you being posted? and do you have personalized and customized funds? These make a big difference in the final mortgage rate you would pay. In regards to the penalty, the greater of IRD or 3 months interest is standard at all banks on closed fixed-rate mortgages at all banks. Cheers, T

The best option (financially) in my opinion is to utilize your envelopes (personalized & customized) in the most tax effective way to lower your mortgage rate, without incurring a taxable benefit. Mortgage interest Buydown You would be able to use the funds in your personalized envelope towards...