2018 Top 20 National - Mortgage Intelligence
FSCO # 10428
Nov 11th, 2017 8:41 am
Nov 11th, 2017 9:17 pm
On the to-do list this week! Ugh, I dislike the inconsistency of meeting with branch employees. The only reason I have a Scotia mortgage is because it happened to be the best deal at the time, when set up by mortgage broker. They were so thorough and helpful, and Scotia was the opposite.CdnRealEstateGuy wrote: ↑ You're welcome.
You really don't have a choice if you're doing this by the book. If you have a mortgage on a property and want to do major renovations on it, lender will put you under a construction financing program. You will get money for the work which is released in installments.
Again, talk to Scotia since your mortgage is with them. They have an excellent program.
Nov 12th, 2017 8:56 am
Nov 12th, 2017 10:50 am
Nov 12th, 2017 11:07 am
Nov 12th, 2017 11:14 am
Nov 12th, 2017 11:30 am
Can you post some?
Nov 12th, 2017 11:58 am
Nov 12th, 2017 8:50 pm
Nov 12th, 2017 9:04 pm
Nov 12th, 2017 10:55 pm
Nov 12th, 2017 10:57 pm
Nov 13th, 2017 2:18 am
Nov 13th, 2017 12:23 pm
Hello,davidbluee wrote: ↑ Hi,
My mortgage is coming up for renewal at the end of May 2018. Received an early renewal letter from the bank, offered 3.31 5yrs fixed and 2.94 2yrs fixed.
I need suggestions from the experts here. How are the rates? What should I do? Talk to my financial advisor and negotiate a better deal? OR wait until the renewal due date is close so the bank will provide a better deal? Or just take this offer to lock the “early renewal rate”?
Mortgage Balance: $312K Remaining
Lender: Scotiabank (STEP)
Payment Frequency: Monthly
Amortization: 30 years (25.5 remaining)
Down payment: 35%
Renewal Date: end of May 2018
Current rate: 2.79% 5yrs fixed
I am a little confused, if I accept this deal, does that mean I am paying the new mortgage interest rate staring from next month? Or the new rate starts from June 2018 when my current mortgage term reaches maturity？My current rate is only 2.79%.
Thanks very much!
Nov 13th, 2017 1:05 pm
I don't think anyone replied to this post couple of months ago or I missed it. I'm less than 4 weeks away and have to get this taken care of. RBC emailed me on Oct. 6th a quote of 3.29% for 5 year fixed which sounds like their posted rate and I'm guessing not very good...djpositivek wrote: ↑ We're up for renewal on Dec. 10th with RBC Homeline plan. Don't really need the homeline anymore, balance is 0 on the credit line but could keep it depending.
Approx. 6 years remaining in total and ~$82,000 left. We've been doing 5 year fixed and probably looking at that again. Haven't yet received anything from RBC about renewal however I expect I won't be getting the best rates from them without haggling/matching other offers.
What's the best rates we could expect? Not against going with a Broker, but have been with RBC since purchase.