1.85% 5 Year Variable - The Mortgage Emporium

Is there any restriction to get 1.85 rate? Like insured mortgages only or 2-3% penalty on outstanding amount if you break from the 5 year term?

What happens after the 5th year, win the lottery?

You can get as low as 1.80% 5-year variable from one lender. A lot of lenders are offering 1.85% right now.

Sundin wrote: ↑Anyone deal with these guys? Looking at purchasing a condo and it's the lowest variable rate I've seen. Comparable rates at 1.9%, are they a better option? Any feedback would be appreciated.

http://www.ratehub.ca/best-mortgage-rat ... r/variable

CdnRealEstateGuy wrote: ↑You can get as low as 1.80% 5-year variable from one lender. A lot of lenders are offering 1.85% right now.

The 1.79% rate through Butler Mortgage only has prepayment options of 20% of regular vs. 100% through Emporium. I understand the rate difference, but there's flexibility to pay the mortgage faster with Emporium no?

Sundin wrote: ↑Anyone deal with these guys? Looking at purchasing a condo and it's the lowest variable rate I've seen. Comparable rates at 1.9%, are they a better option? Any feedback would be appreciated.

http://www.ratehub.ca/best-mortgage-rat ... r/variable

You want to find out if it is high ratio only and is this rate the contract rate or the effective rate - ie: there is a cashback component,