AVOID National Bank, TD and Tangerine ladies and gentlemen.
Mortgage Agent and Real Estate Sales Representative
Dec 7th, 2017 1:40 pm
Dec 7th, 2017 1:43 pm
Dec 7th, 2017 2:29 pm
Dec 7th, 2017 2:51 pm
And just another think if you’re interested in a heloc you can get a 5 year fixed rate for 2.9-2.99% and 1000-1500$ cash back!
Dec 7th, 2017 3:02 pm
Dec 7th, 2017 5:01 pm
Dec 7th, 2017 6:31 pm
How do you know the 'final' word ? Only when the new lender what to really do the switch ?valuemortgage wrote: ↑Dec 7th, 2017 1:22 pmThey know quite well.. they just pretend they dont know, or intentionally provide evasive answers. When a client "confronts" those banks with collateral charges (like TD, National Bank, Tangerine) asking if they have one, that means the client just found out elsewhere and will now be upset. So, the bank employee will avoid a direct answer, or provide a vague answer to avoid the situation.
Every week, someone from RFD contacts me (and other brokers) with a "Hi. I have a conventional mortgage with TD and want to switch lenders... my mortgage is not a collateral.. it is a conventional..." And 11 out of 10 times the deal goes nowhere because no matter what TD tells them, they have a collateral charge and eventually find out about it. Sometimes the next day, other times about 1 week from closing.
Dec 7th, 2017 6:42 pm
Dec 7th, 2017 7:40 pm
Dec 7th, 2017 9:06 pm
Best rate available to you is 2.01% 5-year variable. It’s about $3,000 to break your existing mortgage and you’ll be saving 39bps per year for the remaining 3 years. Interest savings will exceed the penalty, so might make sense to switch.mosaic99 wrote: ↑Dec 7th, 2017 7:40 pmHi,
Looking for some opinions and suggestions.
I'm currently on 5 year variable 2.40% and still have 3 more years left. Property is in BC, purchase price is 750k, current mortgage is 470K. Should I break the term and switch to a better rate or stay with the current one? What better rate could I get if switch? fix and variable. 3 and 5 year.
Thanks a lot
Dec 7th, 2017 9:49 pm
Can you guys share your 5 year variable rates from big banks?
Dec 7th, 2017 11:36 pm
You need to ask yourself if it’s worth paying the extra $$$ just to stay with CIBC. To me, that’s doesn’t make sense at that rate.ruchir wrote: ↑Dec 7th, 2017 9:49 pmCan you guys share your 5 year variable rates from big banks?
I have been offered P-0.45% 5 year variable by CIBC. That’s the best they can do. I just want to stick with CIBC as I have other products with them. But it will be nice to know what other big banks are offering. Maybe be I can get them to knock off couple of basis points.
Dec 8th, 2017 6:10 am
I have a readvanceable HELOC attached to the mortgage and I use both for investments. So in that sense I am limited by that. I need both, not just the mortgage. Do you know any brokers offering both?
Dec 8th, 2017 9:59 am
Is the P-1.25% only for insured mortgages?
Dec 8th, 2017 10:27 am
Yes, we can all offer that.