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[Tangerine] Tangerine - 1.84% Posted Mortgage rate - 5Y Fixed, Uninsured for New or Moved mortgages

  • Last Updated:
  • Oct 20th, 2020 12:53 pm
Deal Addict
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Jul 16, 2012
1259 posts
779 upvotes
Vancouver, BC Canada
Dealgains wrote: I was able to get 1.79% for 5 year fixed and $3000 cashback with 20% down for 30 year amortization through my contact at BMO. The rates are lower with a 25 year amortization. Feel free to PM, if anyone needs the BMO agent's contact info.
Guessing $3K is only for large mortgage?
Newbie
Mar 6, 2018
31 posts
18 upvotes
canucks4life wrote: Guessing $3K is only for large mortgage?
It is tiered. Its $600 for 100k to 200k .. $1200 for 200k to 500k. 2k for 500k to 750k and 3k for 750k+
Sr. Member
User avatar
Jul 10, 2003
659 posts
387 upvotes
Toronto
And please note that Tangerine's Cash Back is Low ($500) but they are part of the "Fair Penalty Lenders" group so to break a FIXED mortgage after the 3rd year could be very inexpensive compared to other banks. IE: on a 5Y or 10Y fixed mortgage, after the 3rd year the fee to break the mortgage is 3 months interest, just like a variable mortgage.

For more info, please see:
Tangerine post :
tangerine-tangerine-1-84-posted-mortgag ... s-2403718/

Here’s a list of Canada’s most common fair-penalty lenders:
https://www.ratespy.com/fair-penalty-le ... s-05109252
OP posted the above in the Scotiabank eHome thread. Does anyone know how Tangerine calculates the mortgage penalty for breaking a Tangerine fixed mortgage?

From the Tangerine calculator, it seems to be the same as the Big6? Let me know what I'm missing!
https://www.tangerine.ca/en/calculators ... yment.html
Deal Addict
Jan 11, 2007
1435 posts
306 upvotes
Edmonton
Crazy hot rate.
Now looking back and rushed to get 2.64% with HSBC was a joke. Sigh.

thanks for posting OP.
Newbie
Apr 20, 2010
92 posts
11 upvotes
Etobicoke
Dealgains wrote: I was able to get 1.79% for 5 year fixed and $3000 cashback with 20% down for 30 year amortization through my contact at BMO. The rates are lower with a 25 year amortization. Feel free to PM, if anyone needs the BMO agent's contact info.
Is this on a house over a million? If yes, please pm contact info. Thanks.
Deal Fanatic
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Aug 24, 2016
7197 posts
7221 upvotes
The Prairies
I just renewed with BMO at 1.77%.
I guess I got a good deal!
[OP]
Jr. Member
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Aug 13, 2020
179 posts
508 upvotes
ironchefff wrote: OP posted the above in the Scotiabank eHome thread. Does anyone know how Tangerine calculates the mortgage penalty for breaking a Tangerine fixed mortgage?

From the Tangerine calculator, it seems to be the same as the Big6? Let me know what I'm missing!
https://www.tangerine.ca/en/calculators ... yment.html
I couldn't find anything online at all about this but my Tangerine rep told me that after 3 years on any fixed term, the penalty would be only 3 months of interest.

As per the contract Tangerine offered me :

(This is in the Prepayment Charges section, and does Not appear anywhere else)

The penalty you will be charged, calculated on the applicable amount, will be the
greater of:
a) three months interest, or
b) the interest rate differential, which is calculated by taking the difference in your mortgage’s Annual Interest Rate and the Interest Rate for a mortgage that is closest to the remainder of your mortgage term, multiplied by the outstanding balance for the time that is left on your
mortgage term, and calculated on the amount being prepaid.



I'll try to get something in writing and will report back.
Jr. Member
Dec 26, 2010
134 posts
44 upvotes
Simcoe County, Ontar…
coolintheshade wrote: I just renewed with BMO at 1.77%.
I guess I got a good deal!
Sweet. Last offer I got from them was 2% a couple of weeks ago. And I've seen 1.74 on here. Now I can get a lot closer to that, hopefully.
Deal Fanatic
Aug 25, 2005
5006 posts
1808 upvotes
Dealgains wrote: I was able to get 1.79% for 5 year fixed and $3000 cashback with 20% down for 30 year amortization through my contact at BMO. The rates are lower with a 25 year amortization. Feel free to PM, if anyone needs the BMO agent's contact info.
Could you pm me the contact?
Newbie
Sep 19, 2020
8 posts
31 upvotes
I was able to get 1.74% on 5 year fixed with 25 year amortization (was the same rate for 30 year) for a $1.2M mortgage with $2500 cashback at TD. I did have to pay the appraisal fee but that didn’t seem like a big deal considering the interest savings. I’d be happy to share his contact over PM. Apparently this is only available for mortgages of $1M+ but it wouldn’t hurt to ask anyways.
Newbie
Mar 6, 2018
31 posts
18 upvotes
BenK wrote: Could you pm me the contact?
Pmed you the info. It does not need to be a $1m + mortgage, mortgage amount only affects the cash back amount but not the rate. Might be even lower for higher amounts though. Depends on a case by case basis and whether it is owner occupied or an investment property aswell.
Member
Mar 3, 2017
384 posts
143 upvotes
Woodstock
Can anyone with knowledge as to how to MOVE your mortgage give me a shout in PMs? I bank with TD and have 2-3 years left on a 5 year fixed at like 2.89%. I don’t have a lot of knowledge about termination fees, etc., or if TD has some kind of loophole for moving a mortgage. Anyway, any help is very much appreciated! Thanks!
Member
Mar 28, 2010
234 posts
433 upvotes
vancouver
RWCantel wrote: Can anyone with knowledge as to how to MOVE your mortgage give me a shout in PMs? I bank with TD and have 2-3 years left on a 5 year fixed at like 2.89%. I don’t have a lot of knowledge about termination fees, etc., or if TD has some kind of loophole for moving a mortgage. Anyway, any help is very much appreciated! Thanks!
Pay the greater of ird or 3 month interest and move anywhere you like.

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