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[TD Bank] TD fixed rate 2.54% mortgage

  • Last Updated:
  • Jun 26th, 2020 9:44 pm
Deal Expert
Nov 16, 2004
17241 posts
4423 upvotes
Toronto
obad89 wrote: What’s the problem with collateral mortgages? I specifically asked for one when i bought my house. Couple of month ago i needed to refinance, it cost me 100$ for appraisal, that’sit. No other fees. With TD, not sure why all the hate for collateral mortgages.

Once your mortgage is up for renewal, the new lender pays all the transfer fees. And no one goes to a lawyer to transfer A mortgage, they use fct, which is around 600$, usually paid by the new lender
Google is your friend here. They are one of a few lenders who do this. It comes down to the entire mortgage amount being charged to you, even when you have far less than that left on the mortgage. Also, other lenders don't want the mortgage.
RedFlagDeals addict
Jr. Member
Sep 12, 2008
153 posts
33 upvotes
Brampton
Locked in at 2.04% for 5 years fixed non insured mortgage with HSBC this week...also got $2000 cash back, $500 for 25k deposit forn1 month and $350 referral bonus....good enough to cover my transfer fees from RBC....

2.04% was a special rates for new branch opening....i can ask the manager whats the promotional rates going on this week. Their webiste is advertising 1.99% 5 years fixed for insured mortgage...i think so far this is the best
Deal Addict
Jun 19, 2006
1964 posts
252 upvotes
Toronto
lilmikey wrote: IMG-20200415-WA0035.jpeg

I went variable few weeks back , great rates
1.45 mortgage
2.65 secured line for credit if needed to borrow
How did you get 1.45% on variable rate? Is it variable open or closed? I look at their site - https://www.td.com/ca/en/personal-banki ... age-rates/ and did not see anything that is near or below 2%. Please let me know.
Deal Addict
May 1, 2011
1719 posts
2192 upvotes
Halifax
albundy99999999 wrote: How did you get 1.45% on variable rate? Is it variable open or closed? I look at their site - https://www.td.com/ca/en/personal-banki ... age-rates/ and did not see anything that is near or below 2%. Please let me know.
time machine. likely signed or committed before BofC 1% rate drop. Many people are at 1.5% or below on variable, including me (bragging), who almost switched when fixed were lower than variable before covid.
Sr. Member
Feb 14, 2012
919 posts
595 upvotes
Toronto
All this talk about the bank takes "higher" risks, what a load of crap. They hold peoples money and can lend out multiple times the amount that they currently have. The rich get richer the poor get poorer. Hold peoples money and give the peanuts in return, then come back and lend to the next person at "higher" risks rates, right....
Deal Addict
Jun 19, 2006
1964 posts
252 upvotes
Toronto
How do you guys get less than 2% on standard/regular (not high-ratio) mortgage renewal for fixed or variable terms? I have checked Scotiabank/HSBC/CIBC and everything is 2.1% or higher on standard/regular mortgage renewal.
Deal Addict
Jun 19, 2006
1964 posts
252 upvotes
Toronto
tdracer wrote: time machine. likely signed or committed before BofC 1% rate drop. Many people are at 1.5% or below on variable, including me (bragging), who almost switched when fixed were lower than variable before covid.
I would thought it would be even lower after the covid started, but it doesn't appear so.
Member
Jun 30, 2009
231 posts
119 upvotes
lilmikey wrote: IMG-20200415-WA0035.jpeg

I went variable few weeks back , great rates
1.45 mortgage
2.65 secured line for credit if needed to borrow
albundy99999999 wrote: How did you get 1.45% on variable rate? Is it variable open or closed? I look at their site - https://www.td.com/ca/en/personal-banki ... age-rates/ and did not see anything that is near or below 2%. Please let me know.
Wow that's an awesome set of rates! Would like to know as well. Please update!
Deal Addict
May 1, 2011
1719 posts
2192 upvotes
Halifax
albundy99999999 wrote: I would thought it would be even lower after the covid started, but it doesn't appear so.
We took prime -0.95 when we renewed a year or so ago and didn't push due to financial constraints at the time.. Up until emergency rate cut it was easy to get prime -0.75 without a bit of work and afaik -1.15 for hard bargaiers and certain banks. Now they are offering prime -0.2 to 0.6. so while prime rate is lower discount to it is not as great. If I were renewing at this time I would consider locking in at 1.99.
Jr. Member
Jan 25, 2006
149 posts
9 upvotes
Montreal
hello everyone
i have been looking at this thread trying to find the answers to my questions. but, i think you are all more advanced than me.

i have never had a mortgage before and so don’t know what i should do to get one. from reading this thread i can see that there is a choice between fixed and variable. and that is basically for me to decide.

but, do i see a mortage broker, or the bank, bmo, that i have my banking and investment accounts?

is there any way to avoid costs, such as evaluation of house? lawyers fees? etc

the details of my situation are that i own half a duplex. the owner of the other half died and so now i must buy the other half and rent it or sell mine and move out.

i have never really needed credit and probably have a good credit rating.

anything else i should be thinking about?
thanks for any help
bob
Sr. Member
Dec 24, 2017
789 posts
672 upvotes
RBC offered me 2.39% 4 years fixed. Not sure if it's good or bad...
Jr. Member
Oct 15, 2018
183 posts
61 upvotes
Any idea what rates are available for cibc variable rates for uninsured deals, 30yrs amortization? New mortgage, not renewal
Deal Addict
Jun 19, 2006
1964 posts
252 upvotes
Toronto
tdracer wrote: We took prime -0.95 when we renewed a year or so ago and didn't push due to financial constraints at the time.. Up until emergency rate cut it was easy to get prime -0.75 without a bit of work and afaik -1.15 for hard bargaiers and certain banks. Now they are offering prime -0.2 to 0.6. so while prime rate is lower discount to it is not as great. If I were renewing at this time I would consider locking in at 1.99.
Thanks for that, not sure where I can get anything below 2% now without eating up the transfer fees or other fees myself.
Deal Addict
Nov 14, 2006
2009 posts
978 upvotes
GTA
albundy99999999 wrote: How did you get 1.45% on variable rate? Is it variable open or closed? I look at their site - https://www.td.com/ca/en/personal-banki ... age-rates/ and did not see anything that is near or below 2%. Please let me know.
tdracer wrote: time machine. likely signed or committed before BofC 1% rate drop. Many people are at 1.5% or below on variable, including me (bragging), who almost switched when fixed were lower than variable before covid.

Yes it was awhile ago for my primary residence, tried for my rental recently and got 2.40 so things have changed.

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