Mortage Rate

[jadeboy]

I just went to my Bank at CIBC and I was quaified for $400,000 the rate she gave me was 4.75% (which is currently prime) Open and Variable 5 years amortized 25 years. This is the best rate they give out.. does anyone know if I can get a better rate?

The HELOC was also the same rate at 4.75% or whatever is prime.

Down payment amount was 200,000.

[Penis McNickels]

Call up a few mortgage brokers and have them shop around for you. It's free for you, they get a commission from the lender.

[trevh]

3.9 here.

[01RedDX]

.

[Thaco]

with 1/2 the value of the house down, you better get a smokin rate

[Masked Bandit]

You should easily be able to get prime less a half or three quarters.

[jmc]

Should be able to get under prime, call some mortgage brokers.

[compton]

Shop around:

http://www.banking.pcfinancial.ca/a/...tgageRate.page

http://www.thebestrates.ca/

http://www.secureapp.com/mbpro/ama/rates.asp


If you are buying add-ons with your mortgage (insurance or whatever) just be sure to compare the total cost of what you are paying.

[el-nino]

i can help you. I'm a Mortgage Broker.PM me for contact info.

[Danish]

Hi,

I recently set up my mortgage through CIBC, same details: Open and Variable 5 years amortized 25 years. My down payment was 20% and the value of the mortgage was less; however I was able to get 60 points off of prime, so 4.15%.

[jadeboy]

Originally posted by Danish
Hi,

I recently set up my mortgage through CIBC, same details: Open and Variable 5 years amortized 25 years. My down payment was 20% and the value of the mortgage was less; however I was able to get 60 points off of prime, so 4.15%.

Was the 60 points off over 5 years or just the first 9 months?

[Danish]

5 Years, I think the better than prime mortage gives you a higher discount over the first 9 months then raises up.

[el-nino]

I can get the p-.6 for the 5 years.

[adDiction]

All banks give a 5 year open at prime thats not really a deal. Only the open part makes it seem like one. 5 year closed Variables are lower usually .5 off sometimes more from prime. If your are thinking of flipping the house prior to the 5 years most institutions have programs to re-imburse your penaties for staying with them. If you want to know more come see me at TD Canada Trust Country Hills Branch.

Shawn

[HRD2PLZ]

One of the mortgage brokers I work with is offering 4.05% variable open for 5 years through TD.

[rated_R]

Originally posted by HRD2PLZ
One of the mortgage brokers I work with is offering 4.05% variable open for 5 years through TD.

Mortgage broker here, I recently got that for one of my clients as well

[bspot]

3.9% here as well. Negotiated it myself with the bank. Fully open. Can pay it off any time with no penalty.

[ExtraSlow]

what's the lowest FIXED rate anyone seen offered lately? I'm half way through the five year term on a 4.49% fixed rate, and I'm wondering if I would be able to refinance lower and longer.

[jadeboy]

Originally posted by bspot
3.9% here as well. Negotiated it myself with the bank. Fully open. Can pay it off any time with no penalty.

When and how long ago, which bank? Was this Open and Variable? What was it prime - %?

[redx2nv]

3.3 here. variable.