You might be able to get lower, is this for 25 or 30 years amortization?
I’ve sent you a private message regarding some rates.
Oct 26th, 2018 1:02 pm
Oct 26th, 2018 1:50 pm
For an insured purchase, you can get 3.09% 5-year fixed still.
Oct 26th, 2018 2:25 pm
Oct 26th, 2018 2:37 pm
Oct 26th, 2018 3:27 pm
Oct 26th, 2018 5:44 pm
Oct 26th, 2018 6:36 pm
Oct 26th, 2018 6:42 pm
You can do much better! I just sent you a private message.skwigglyline wrote: ↑Oct 26th, 2018 6:36 pmPutting 20% down on a house and getting offered a flex line from TD instead of a regular mortgage. Does it come out to about the same/average due to the rate hike?
Revolving portion is 4.15% (based on TD prime + 0.2) and term portion (based on TD prime -0.7) is 3.25%
5 year term - 30 years.
Oct 26th, 2018 7:28 pm
Based on the information provided, lowest rate would be 5 year fixed at 3.19% or variable at prime -1.20% (2.75%).
Oct 26th, 2018 7:33 pm
You are still too early to be shopping as the maximum rate hold with most lenders is 90 days. Looks like you are still sitting in that 20% equity position. If you were within the 90 day window now, the lowest rate would be 5 year fixed at 3.54% or variable at prime -1.05% (2.90%). Shorter term rates are actually higher.slovit wrote: ↑Oct 26th, 2018 3:27 pmLooking to renew my mortgage.
Mortgage owing: 535k (at the time of renewal)
Value of home: ~670k
Bought: Apr. 2017
Renewal date: Apr. 2019
Amortization period: 30 years
Current lender: Scotiabank
Is the mortgage CMHC insured?: No. I put 20% down payment at the time of purchase.
Yearly income: 150k (single income household)
Looking for 3 to 5 years variable (or fixed if rate is good). Can change amortization period, pay off some principal to get a better rate.
Oct 26th, 2018 10:18 pm
Oct 26th, 2018 11:12 pm
Oct 27th, 2018 6:25 am
Providing that you have at least 35% equity in the home, which you do by the numbers you have posted, lowest 5 year fixed rate would be 3.39% or prime -1.24% (2.71%).
Oct 27th, 2018 12:48 pm
Who’s is your current lender?
Oct 27th, 2018 6:24 pm