we owe 125000
looking for variable 5 year.
it is our third home, 2 paid off.
our credit scores are around 800 or higher.
no other debt.
Feb 9th, 2019 11:14 am
Feb 9th, 2019 12:27 pm
Is this for a mortgage renewal or to buy the home?
Feb 9th, 2019 1:31 pm
Feb 9th, 2019 4:36 pm
Feb 9th, 2019 4:47 pm
Feb 9th, 2019 5:20 pm
2.80% (Prime 1.15%) 5-year variable is the best rate. You can also get 3.29% 5-year fixed.
Feb 9th, 2019 5:23 pm
Ok, my plan is to put in 20% down for my rental property and should allows me to get HELOC.
Feb 9th, 2019 6:12 pm
Your lowest 5 year variable would be prime -1.15% (2.80%) or lowest 5 year fixed would be 3.39%).
Feb 9th, 2019 7:55 pm
Feb 9th, 2019 9:11 pm
Best rates below
Feb 9th, 2019 9:14 pm
Due to the remaining mortgage you may want to go back to the current bank and negotiate lower rates.boondoggle wrote: ↑ Looking for some advice.
Renewing mortgage by end of this summer, with 90K remaining on original mortgage amount. 5 years and 4 months remaining amortization period.
Have been paying off in 5 year fixed increments as SO is afraid of variation in rates. As they say, a happy wife is... better than an angry wife.
Current bank sent out a renewal offer this week at 3.79 for 5 year fixed renewal.
Are bank renewal offers worth the paper they print them on, or should we look elsewhere?
Would we be smarter going variable at this poiint?
Not a mortgage whiz here, so any advice welcome.
Feb 9th, 2019 9:21 pm
Feb 9th, 2019 9:28 pm
You should reach out to any of the brokers posting regularly to do a full analysis for you.JennyC243 wrote: ↑ Hi.
Hoping to find out if this will work before making an offer
purchase price: 520 to 530k
downpayment: 20 to 22%
owner occupied, principal residence
closing expected May 2019
has a rental unit currently bringing in 1600 (got it 6 months ago so tenant still has 6 more under lease)
mortgage 1200 + 200 strata
no other debt
Thank you in advance.
Feb 9th, 2019 9:30 pm
See what they offer on the variable and quote some of the rates you have seen on the forum / online to see if they will match
Feb 10th, 2019 1:17 pm