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Old 2011-05-02, 03:30 PM
33Kennedy 33Kennedy is offline
Regular User
Join Date: Sep 2010
Location: Richmond
Posts: 80

Hi Dan,

Just wanted your opinion in regards to the Manulife One mortgage...We had initially decide to go with it, but now are not sure...and we are having a hard time finding someone who has experiece with both, the Manulife One and a conventional mortgage...Are you familiar with the Manulife product?? Here's what we were thinking, the variable rate with the broker is at 2.25, and with Manulife it's at 3.50. What I am not understanding is that with the conventional mortgage our payment seems to be higher per month than with the Manulife One..for example if the payment is 1800 with the broker, and only 1600 with Manulife then the we could pay the extra 200 every month directly on the principle, or this is what we are being told by the Manulife rep?? I'm not sure if I am confused or if this in infact how the Manulife One would work, is there a similar conventional mortgage set up like this, it seems that the way the Manulife One is structured, is different than the conventional mortgage ?? We are a first time buyers and a month away from closing on our new builder home... and trying to wrap our head around all this....Thanks for any info..
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