Personal Finance

Which bank gave you the best mortgage or HELOC rate?

  • Last Updated:
  • Apr 19th, 2020 3:32 pm

Poll: Which bank is best for mortgages and HELOCs?

  • Total votes: 14. You have voted on this poll.
RBC
 
2
14%
TD
 
2
14%
BMO
 
1
7%
CIBC
 
1
7%
SCOTIA
 
1
7%
TANGERINE
 
2
14%
SIMPLII
 
0
0%
EQUITABLE
 
0
0%
DESJARDINS
 
1
7%
--OTHER--
 
4
29%
[OP]
Deal Addict
User avatar
Jul 13, 2014
3906 posts
1301 upvotes
Parry Sound

Which bank gave you the best mortgage or HELOC rate?

My renewal time is coming up soon and I'm looking to shop around this time.
This message has been approved by the Office of the Mayor of Toronto.
5 replies
Deal Expert
Aug 22, 2011
33069 posts
18889 upvotes
Ottawa
Big 5 are usually competitive at prime +.5
Deal Fanatic
Dec 11, 2008
9987 posts
1477 upvotes
We were shopping for HELOC only and Tangerine offered their Prime - 0.1%

We also got TD to give us Prime + 0% so we went with TD
Deal Fanatic
User avatar
Jan 6, 2002
5682 posts
5820 upvotes
Toronto
Unless you split poll between mortgage and HELOC, the answer is meaningless. And even then the answer is meaningless.

Tangerine is among best for HELOC and among worst for most mortages except they are among the best for rental property mortgages.
A glass of wine with you, sir, and the ladies I'll enjoy.
Revolutionary times must on occasion make do with considerable abridgements in order to accentuate the political line more strongly.
Deal Fanatic
User avatar
Feb 2, 2014
8124 posts
2279 upvotes
Toronto
MayorOfToronto wrote: My renewal time is coming up soon and I'm looking to shop around this time.
Prime -.25% 5-year variable (2.20%) on the mortgage with Prime +.45% on the HELOC is the best deal that I know of (for mortgage + HELOC products).

You can get Prime -.40% 5-year variable with no HELOC.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Member
User avatar
Jan 7, 2019
299 posts
278 upvotes
Switched in my mortgage to RBC from BMO. BMO was giving me prime -0.75% on mortgage, RBC gave me Prime -0.85%.

It's going to be a HELOC at RBC as well and I got prime +0% on the rate.
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