19mfp6sjpjpTvm3M4uDbPFHGgXRSQKWsUu (3757) ·
"Take equity from home"
Sounds solid but just remember that's banker marketing,
aka "a loan".
1ANaz47Fa7v5r7xb533k6Qm5n98HatuCHB (1665) ·
I suppose so, under the impression i have to break the current mortgage contract, and rewrite it with a penalty. Talking to bank tomorrow, if that is the case may just use the line of credit for funding.
1ANaz47Fa7v5r7xb533k6Qm5n98HatuCHB (1665) ·
Talked with bank, i have a line of credit at 6.4% for 25k ... BUT, banker said we could take 40k at 2.4% and rewrite mortgage from 17 year to 20 year so we dont feel any financial changes, soo panels coming, pool scheduled and hvac coming friday.. 😎
1ANaz47Fa7v5r7xb533k6Qm5n98HatuCHB (1665) ·
ontario has energy rebates as well, so we will get back 8-10k of costs, which we can turn around and put back towards mortgage as a one time anniversary payment, so things are looking phenomenal, thank God
19mfp6sjpjpTvm3M4uDbPFHGgXRSQKWsUu (3757) ·
How nice of them to keep you paying 3 years longer 😂 But even though they just added on how much you owe them, it sounds like you'll get a nice return on your investment. The solar panels will definitely put money back in your pocket. Pay it off asap.
1ANaz47Fa7v5r7xb533k6Qm5n98HatuCHB (1665) ·
Yah, unfortunately nothing is ever free round these parts :( but 2.4% is much nicer than 6.4% .. we were planning to move to Nova Scotia, but put that on hold, so sprucing up the pad a bit and looking for vacant land by Wiarton, ON for future projects.
1ANaz47Fa7v5r7xb533k6Qm5n98HatuCHB (1665) ·
Furnace and AC bought, scheduled for June 10th installation, unfortunately no G rebates unless we do tankless water heater combo with new insulation in attic and 600$ inspection, so eff that - the price was okay anyways 8699.98$ installed / done deal