My wife co-owned a home with her family and having their mortgage at Bank A. we are now seeking for mortgage for new builder home , is it better to go with the same Bank A for better rate ?
co-owned home still has remaining 230K. When I tried with different banks they are considering the old remaining mortgage of 230K to our new total. However, Bank A is willing to give mortgage to the new home since they are accepting her retired dad will take care of the remaining 230K with his own pension income. So my question is there reason for shopping around or just settle with Bank A.
Bank A offering the following rates for new home :
Best Variable closed - 2.3% ( needed to qualify for 4.* % )
Fixed 5yr - 2.69%