Real Estate

1.85% 5 Year Variable - The Mortgage Emporium

  • Last Updated:
  • Jul 22nd, 2015 2:31 pm
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5 replies
Sr. Member
Feb 21, 2010
886 posts
262 upvotes
Scarborough
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?
Banned
Jan 16, 2015
869 posts
86 upvotes
Toronto, ON
What happens after the 5th year, win the lottery?
Deal Guru
User avatar
Feb 2, 2014
10416 posts
3047 upvotes
Toronto
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
Kevin Somnauth, CFA
Principal Broker/Owner - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
[OP]
Sr. Member
User avatar
Jan 10, 2006
874 posts
63 upvotes
905
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?
Heatware
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Deal Addict
Jul 11, 2010
1283 posts
321 upvotes
Toronto
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,
Doug Boswell
intelliMortgage Inc. Brokerage #12326
FSRA #MO09002332

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