Looking for a house in BC (Fraser Valley) - Half a million for what???

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Originally Posted by Slick Fork

Stay away from a 40 yr mortgage... you'll never pay the principal off. Payments might be a little cheaper, but that's FIFTEEN more years. Just my 2 cents!!

I second, stay away. I did a some quick calculations on MLS.
$450,000 over 25 years@6.0=$2879/mon $863700 total paid
$450,000 over 40 years@6.0=$2452/mon $1,176,960 total paid SCARRY!!!!!
Shaun