Is my bank being dishonest an mortgage break penalties
I got it in may 2018. Its up
After talking to agents on here they have 1.89 for 5 fixed. So i emailed my bank to find out what the penalty would be (because the contract does not show it) and was told an amount that does not make any sense.
I get the 3 month interest but bring penalized for having a 30 year?
“when your mortgage is amortized longer than 25 years and also when the property is valued at more than 1 million there is a .20% premium added to the mortgage rate to mitigate the risk of the longer term and if the market had a down shift in value. “
Anyone else experience this?