Real Estate

The Official Mortgage Rates Thread

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Dec 1, 2015
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Etobicoke, ON
Most lenders only have 5y variable, and a few (maybe 2 lenders) have 3y variable. Your best bet (if going variable) would be the 5y, and you should be able to get a 2.21% (P-1.24%). Keep in mind that even though you dont have a Heloc, you almost certainly have a collateral charge, since your mortgage is with TD. That means you would have to pay around $800.00 in legal fees.
litebrite wrote: Current mortgage is up for renewal on July 1, 2018. It was a 4-yr fixed rate at 2.77% with TD.

Condo in Vancouver, BC

Original purchase price: $385K
2017 assessed property value: $564K
Mortgage remaining: $188 000
- Had 20% downpayment initially
- No HELOC attached currently
- Primary residence

Interested to see what fixed and variable rates I'm able to get for 3, 4, 5 years. I'm leaning towards a variable rate this time around, but would definitely go fixed if it's attractive!
Andre Oliveira - Mortgage Agent at Valuemortgage
2018 Top 20 National - Mortgage Intelligence
FSCO # 10428
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jean-philippe wrote: These rates looks interesting, what bank is it?

Looking to finance 80% on 600,000$ value in QC.
It is a construction/major Reno project passing from a 300k value to 600k+ after gutting out main floor and adding a second floor + garage.

Current MTG balance is 155,000$ house valued @ 300k

Cost of renos is 325,000$

Estimated value after renos to be at least 600k.

Currently with Scotiabank on a STEP (equity access program). Low ratio MTG.

Looking for lowest fixed and lowest variable rates with possibility to do multiple advances.

Thanks

JP
Unfortunately those rates aren't for 80% LTV. But you still might be able to get something better than the banks.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
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any good mortgage brokers in greater vancouver area i can meet in person?
Deal Addict
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Dec 1, 2015
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Not sure if there are any here, but so that you know the approval process is done entirely online. If I was assisting my neighbor next door with his mortgage, all the paperwork would be collected via email/fax and the application would be done online anyways. Pretty much all lenders now have online platforms for brokers/agents to upload documents, through secure servers, so there is absolutely no *need* to meet face to face.
helphelp911 wrote: any good mortgage brokers in greater vancouver area i can meet in person?
Andre Oliveira - Mortgage Agent at Valuemortgage
2018 Top 20 National - Mortgage Intelligence
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Dec 22, 2007
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Kingston
My broker offered me 5-year fixed @ 3.19% from CMLS Financial. 3.39 posted - 0.2 discount - 0.06 buy-down. I am putting 5% down on a 470k house.

Is that a good rate or should I be shopping around? He insists that CMLS's penalties (should I break the mortgage and switch to a lower rate) and other conditions are better than True North or other companies that might potentially offer a lower rate.

Please advise. Thanks!
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crimsontwo wrote: My broker offered me 5-year fixed @ 3.19% from CMLS Financial. 3.39 posted - 0.2 discount - 0.06 buy-down. I am putting 5% down on a 470k house.

Is that a good rate or should I be shopping around? He insists that CMLS's penalties (should I break the mortgage and switch to a lower rate) and other conditions are better than True North or other companies that might potentially offer a lower rate.

Please advise. Thanks!
You have much better options out there you should be shopping around !

There are several lenders offering rates below what they have quoted you see below:

Best rate is 2.94% 5 yr fixed 120 day hold 20/20 prepayment non restrictive products same penalties you would have with CMLS

Reach out to any of the brokers that regularly post on the forum to assist

Phil
Phil Cragg
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Mortgage Outlet Inc Broker License #12628
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crimsontwo wrote: My broker offered me 5-year fixed @ 3.19% from CMLS Financial. 3.39 posted - 0.2 discount - 0.06 buy-down. I am putting 5% down on a 470k house.

Is that a good rate or should I be shopping around? He insists that CMLS's penalties (should I break the mortgage and switch to a lower rate) and other conditions are better than True North or other companies that might potentially offer a lower rate.

Please advise. Thanks!
True North is a broker, not a lender. Not sure why your broker would say that.

His rates aren't competitive. As Phil mentioned, brokers on this thread can get you 2.94% 5-year fixed.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
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davka wrote: looking for 1.45-1.5 mln mortgage for property in pickering with closing on april 27.
please pm me
I sent you a message but you can get 3.19-3.29% ona 5 year fixed rate and a variable rate of p-75 or p-80

You’ll also get back roughly 2000$ cash back!
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Dec 22, 2007
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Kingston
rateconnect wrote: Best rate is 2.94% 5 yr fixed 120 day hold 20/20 prepayment non restrictive products same penalties you would have with CMLS

Reach out to any of the brokers that regularly post on the forum to assist
Thanks. Which lender offers that rate on the same conditions?
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crimsontwo wrote: Thanks. Which lender offers that rate on the same conditions?
sent info
Phil Cragg
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Sep 24, 2017
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Calgary, AB
valuemortgage wrote: BTW - for uninsured deals, the 5y rate just dropped to 2.99%. This is for client who have not already been approved by the same lender.
Which lender is that? I couldn’t find anyone offering that rate?
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Dec 1, 2015
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Check your inbox.
Tamizhan wrote: Which lender is that? I couldn’t find anyone offering that rate?
Andre Oliveira - Mortgage Agent at Valuemortgage
2018 Top 20 National - Mortgage Intelligence
FSCO # 10428
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Dec 23, 2011
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Hi, just want to get some tips from the PRO.

Our mortgage is due for renewal this December. Can we switch right now, or we have to wait till December before we can switch?

We are planning to start shopping for best rate right now, but I dont think anyone can hold the rate for us till December.

Could anyone give us any tips on how to properly approach our situation.

Thanks in advance.

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