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[Scotiabank] New 4 year fixed special 2.79%

  • Last Updated:
  • Aug 11th, 2019 7:15 pm
Newbie
User avatar
Sep 26, 2005
95 posts
11 upvotes
Toronto
I signed up at TD at 3.01% for 5 years but I have till June 15th to get a better rate so I'll be keeping an eye out for this. In case anyone is wondering, renewal with a HELOC account with P +0.5
Sr. Member
May 12, 2003
801 posts
236 upvotes
I can confirm that my broker has told me the same. Don't have the details yet.
Member
Aug 28, 2016
225 posts
399 upvotes
I never do mortgages with the big five. They basically have a good rates sometimes and but are a scam when it comes to contract penalties. Predatory in my opinion. Deal with First National or other reputable lending companies.
Newbie
Apr 11, 2005
66 posts
25 upvotes
just called 1-877-268-4228 & got
2Y Fix 3.07
3Y Fix 2.91
4Y Fix 2.79
5Y Fix 2.94
Newbie
User avatar
Oct 6, 2014
74 posts
26 upvotes
Vancouver, BC
How about TrueNorth Mortgage rates

5 Years Fixed Mortgages - Closed

2.99%
30 year amortization and refinances available
15% lump sum payments allowed
15% increase to regular payments

2.69%
High Ratio Only
20%/20% pre-payment options
Must close in 90 days
Bona-fide Sales Clause
Member
Oct 21, 2013
221 posts
83 upvotes
Ottawa
aviator_13 wrote: Variable or fixed?
Thats higher than what I have been seeing from even the big banks over the last couple of weeks (actively looking for a mortgage).

You can probably do better.

Fixed, 5 year. I felt the same way but I have been dealing with this broker for a while and I feel terrible to leave or something a this point since our house was delayed continually and she has to do the paperwork 3x in a row now for the sale.
Deal Addict
Jun 3, 2009
4931 posts
944 upvotes
Montreal
Mike2258 wrote: I never do mortgages with the big five. They basically have a good rates sometimes and but are a scam when it comes to contract penalties. Predatory in my opinion. Deal with First National or other reputable lending companies.
What type of penalties were you referring to? I want to do business with a reputable lender that will allow me to pay off the mortgage before term. Thanks a lot.
Deal Fanatic
User avatar
Sep 13, 2003
9923 posts
1659 upvotes
When "renewing" a mortgage, is it also possible to refinance? Like say before if someone had $300,000 left, and now have $50,000 left or something. To lower the monthly payments can that $50,000 be amortized again at 25 years, thus lowering monthly payments? Can we do that during renewal time?
One blind human - a tragedy
Ten blind humans - a disaster
One million blind humans - a statistic
Newbie
Nov 9, 2015
25 posts
22 upvotes
north bay, on
aquariaguy wrote: When "renewing" a mortgage, is it also possible to refinance? Like say before if someone had $300,000 left, and now have $50,000 left or something. To lower the monthly payments can that $50,000 be amortized again at 25 years, thus lowering monthly payments? Can we do that during renewal time?
Yes.
Deal Addict
Apr 12, 2007
2048 posts
1077 upvotes
Ottawa
aquariaguy wrote: When "renewing" a mortgage, is it also possible to refinance? Like say before if someone had $300,000 left, and now have $50,000 left or something. To lower the monthly payments can that $50,000 be amortized again at 25 years, thus lowering monthly payments? Can we do that during renewal time?
Changing amortization != refinance. Upon renewal you can change your amortization period.
Refinance would be if you want to increase the amount of the loan.
Newbie
Oct 11, 2018
13 posts
12 upvotes
Any confirmation of this? Was approved by Scotia a couple weeks ago and would love to have some sort of documentation to bring to ask them about this.
Sr. Member
Feb 27, 2009
788 posts
435 upvotes
yarou1000 wrote: Any confirmation of this? Was approved by Scotia a couple weeks ago and would love to have some sort of documentation to bring to ask them about this.
Confirmed, booked today
Deal Addict
User avatar
Jul 6, 2010
3064 posts
831 upvotes
Toronto
True North Mortgage offered me 2.74% 5 year fixed for a renewal, non high ratio. Hopefully we'll see the other big banks match scotia as well.
Newbie
Oct 11, 2018
13 posts
12 upvotes
yellman wrote: Confirmed, booked today
Great thanks - I'm also wondering if this is only available directly through Scotia or if a broker who works with Scotia should be able to get this rate for me as well?

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