Real Estate

The Official Mortgage Rates Thread

Member
Nov 24, 2019
215 posts
329 upvotes
Saskatoon
So we bought a house July 2, signed a 3 year fixed, 30 year amortization at 2.19%. 350k purchase price with 20% down. I see Tangerine's own 5 year fixed rate is down to 1.99 now, and rates from everyone else are down as well. Looking at maybe a blend and extend with Tangerine, or curious what broker rates would be available if we broke the mortgage and switched this early. Tangerine's penalty calculator says it would cost us $1520 to break so wondering if we'd be further ahead or not. Thanks
Deal Addict
User avatar
Jan 31, 2018
3027 posts
560 upvotes
k.moz wrote: -What is the purchase price? $555,547.00
-How much is the down payment? 10% ($55,554.70)
-Where it the property located? Winnipeg, MB
-When is the closing date? September 14, 2020
-Will the property be owner-occupied or a rental? Owner-occupied.

We are looking for a 5-year fixed mortgage. We have been approved by TrueNorthMortgages with THINK Financial and offered 1.84%, but it seems like there are lower rates available.

Please feel free to send me a message or reply on the forum!
You can get 10pts lower 1.74% available on a high ratio deals

Phil
Phil Cragg
Mortgage Agent
Mortgage Outlet Inc Broker License #12628
Deal Addict
User avatar
Jan 31, 2018
3027 posts
560 upvotes
JasonW51824 wrote: Currently with RBC and need options for renewing my mortgage in early 2021.

-How much is the mortgage owing? 468,000
-Roughly, what is the current market value of the property? 850,000
-Which city is the property located in? Vaughan, ON
-Is the property owner-occupied or a rental? Owner occupied
-Who is your current lender? 3.49 % RBC 2 yr Fixed
-Do you have a HELOC tied to the mortgage? Yes w/ no balance
-Is the mortgage CMHC insured? No
-When did you buy the property? March 2019
-When is your renewal date? March 2021
Max rate hold is 120 days

current rates are as low as 1.74% 5 yr fixed

Keep your eye on the forum for updated rates early November when you can lock in

Phil
Phil Cragg
Mortgage Agent
Mortgage Outlet Inc Broker License #12628
Deal Addict
User avatar
Jan 31, 2018
3027 posts
560 upvotes
moneysaver20 wrote: Looking for renewal options, TIA!

-How much is the mortgage owing? $830,000
-Roughly, what is the current market value of the property? $1.45M
-Which city is the property located in? Burnaby, BC
-Is the property owner-occupied or a rental? Owner occuped
-Who is your current lender? CIBC
-Do you have a HELOC tied to the mortgage? Yes, but unused
-Is the mortgage CMHC insured? No
-When did you buy the property? June 2015
-When is your renewal date? October 5. 2020
You can get 1.74% 5 yr fixed and 1.60% 5 yr variable

Phil
Phil Cragg
Mortgage Agent
Mortgage Outlet Inc Broker License #12628
Newbie
Aug 19, 2007
12 posts
Edmonton
Hi,

Looking for mortgage renewal -

-How much is the mortgage owing? 356,888
-Roughly, what is the current market value of the property? 900k-1mil
-Which city is the property located in?Toronto
-Is the property owner-occupied or a rental?owner-occupied
-Who is your current lender?BMO
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? Yes
-When did you buy the property? Sep 2010
-When is your renewal date? - Oct 1, 2020

What rates can I expect for renewal?

Thanks
Member
Aug 17, 2018
354 posts
685 upvotes
Hey all,

- What is the purchase price? $1025000
- How much is the down payment? 20%+
- Where it the property located? Thornbury, ON
- When is the closing date? October, 28 2020 - need to fulfil clause by end of next week
- Will the property be owner-occupied or a rental? Owner-occupied.

Looking for quotes on a mortgage, both variable and fixed with 20/20 options, fully featured.
Newbie
Sep 6, 2017
5 posts
7 upvotes
For a purchase of a property:

-What is the purchase price?
1.1m
-How much is the down payment?
450k
-Where it the property located?
Vaughan/maple
-When is the closing date?
2 months
-Will the property be owner-occupied or a rental?
Own

Please also suggest brokers or banks I can reach out to? Names/numbers?

Thank you!b
Jr. Member
Dec 4, 2011
102 posts
3 upvotes
Toronto
A friend of mine is going through a separation and is interested in buying out her partner and becoming the sole owner of their principle residence.

Property Value: $900K
Current Mortgages: Nil
Desired outcome: Max mortgage in order to pay off partner at $450K and have cash left over for home improvements
Location: Caledon area
House type: detached on acreage

If my friend has good credit but doesn’t have sufficient income on paper to qualify, are there any stated income or equity-based programs where she can qualify for a mortgage of 65% LTV?
Newbie
Jul 28, 2020
5 posts
3 upvotes
Hi All,

My True North rep is providing me a quote for 1.71% fixed with mortgage renewal costs covered. Is there anybody getting a better offer on fixed insured mortgage?
Details are below:
-Penalty is around ~$3550.
-How much is the mortgage owing? $570k
-Roughly, what is the current market value of the property? $730k
-Which city is the property located in? Brampton
-Is the property owner-occupied or a rental? Owner occupied
-Who is your current lender? 2.49% Paradigm Quest, 5 yr fixed, 25 yr amt
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? Yes
-When did you buy the property? Jul 2017

Thanks
Jr. Member
Feb 26, 2018
106 posts
69 upvotes
A question, I'm moving and buying for 825k, have 350k down and my current broker is offering 1.99 5 year fixed, 25 amortization. I see some better rates online and wonder what to do. Do I ask the guy if he can get the lender to match online rates? Is that something a broker has the sway to get done? I'm not in a hurry to walk as he came recommended and has been in constant contact and supportive during the buying process. I'd hate for him to have done all that work and lose the business.
Newbie
Sep 26, 2009
9 posts
32 upvotes
Guelph
Hello! My mortgage with FirstNational is up for renewal. They are offering 2.19% 5 year fixed and Prime -0.40% 5 year variable.

-How much is the mortgage owing? $295,000
-Roughly, what is the current market value of the property? $600,000
-Which city is the property located in? Guelph, ON
-Is the property owner-occupied or a rental? Owner-occupied
-Who is your current lender? FirstNational
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? No
-When did you buy the property? October 2015
-When is your renewal date? October 2020
Newbie
Jul 17, 2018
48 posts
28 upvotes
SaskCanesFan wrote: So we bought a house July 2, signed a 3 year fixed, 30 year amortization at 2.19%. 350k purchase price with 20% down. I see Tangerine's own 5 year fixed rate is down to 1.99 now, and rates from everyone else are down as well. Looking at maybe a blend and extend with Tangerine, or curious what broker rates would be available if we broke the mortgage and switched this early. Tangerine's penalty calculator says it would cost us $1520 to break so wondering if we'd be further ahead or not. Thanks
Blend and extend to 5 years would result in a blended rate of 2.10%. Based on my calculations and the rates you listed.
Sr. Member
User avatar
Jun 24, 2020
892 posts
163 upvotes
g3.7 wrote: Hi,

Looking for mortgage renewal -

-How much is the mortgage owing? 356,888
-Roughly, what is the current market value of the property? 900k-1mil
-Which city is the property located in?Toronto
-Is the property owner-occupied or a rental?owner-occupied
-Who is your current lender?BMO
-Do you have a HELOC tied to the mortgage? No
-Is the mortgage CMHC insured? Yes
-When did you buy the property? Sep 2010
-When is your renewal date? - Oct 1, 2020

What rates can I expect for renewal?

Thanks
Thanks. Your eligible for 1.74% five year fixed or 1.60% five year variable with legal and appraisal covered to switch.
Sr. Member
User avatar
Jun 24, 2020
892 posts
163 upvotes
JanZ95915 wrote: Hey all,

- What is the purchase price? $1025000
- How much is the down payment? 20%+
- Where it the property located? Thornbury, ON
- When is the closing date? October, 28 2020 - need to fulfil clause by end of next week
- Will the property be owner-occupied or a rental? Owner-occupied.

Looking for quotes on a mortgage, both variable and fixed with 20/20 options, fully featured.


You can get 1.95% five year fixed or 1.85% five year variable for full featured mortgages.
Sr. Member
User avatar
Jun 24, 2020
892 posts
163 upvotes
itshere01 wrote: For a purchase of a property:

-What is the purchase price?
1.1m
-How much is the down payment?
450k
-Where it the property located?
Vaughan/maple
-When is the closing date?
2 months
-Will the property be owner-occupied or a rental?
Own

Please also suggest brokers or banks I can reach out to? Names/numbers?

Thank you!b

1.95% five year fixed or 1.85% five year variable is available in your case. Reach out to any of the brokers that post here if your interested in a rate hold.

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)