Thanks. The need for the increase to be a refinance, and at a higher rate, would be a reason to stay with RBC. With my last renewal that was not the case, likely because it is set up under their Homeline product.ahlaker wrote: ↑ Most good rates are only available for up to 120 days so you have to wait a week or two. Also - if you are increasing the loan amount you’ll have a “refinance” and the rates will be larger. Last point: some lenders have minimum amortizations but I think generally 10 years should be OK.
That said rates (5-year fixed) would be 2.59% for a switch and 2.69% for a refinance. You could also add a HELOC separately after the switch (goto motusbank and you can get p+0.05% ish on your HELOC).
Good luck!
I should note that I may be using the term amortization wrong. I have ~10 years left on my mortgage and I want it to stay the same (retirement goals).