Time Running Out - 1.74% Fixed Mortgage Rate

[TimLacroix]

Hi everyone -

I am surprised this rate is still available considering where ALL other lenders are for the past 3-4 weeks. This 1.74% 5-year fixed rate is not going to last.

If you are purchasing or renewing your mortgage and would like to know if this meets your needs, please call 403-648-1541 / PM or email [email protected]

Some details:

• 60 day closing (from submission)
• High Ratio
• Great prepayment privileges (20-20%)
• No Sale Clause
• Portable

***Won't last iong. Thought it would be gone by now.

[Twin_Cam_Turbo]

I wish we could qualify for this, no chance I’m going to be able to buy in that timeline.

[ExtraSlow]

Maybe you can do a rate hold? Call your local broker and find out. Even if you can't hold this rate, it's always worth having a hold on some kind of rate. Really no downside.

[Twin_Cam_Turbo]

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Maybe you can do a rate hold? Call your local broker and find out.

I have a rate hold that expires next month from earlier in the year. Hopefully conditions waive next week on my condo so I can confirm possession for May 31 and start looking seriously June 1st. I realize now I can’t qualify anyway because I’m putting ~50% down on the next place so I’m stuck with shittier rates anyway.

[TimLacroix]

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I wish we could qualify for this, no chance I’m going to be able to buy in that timeline.

The 60 days starts from submission so assuming this rate sticks around, you may still get it depending on your purchase timing... plans? Feel free to call and we can chat... or PM and I will call you?

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This quote is hidden because you are ignoring this member. Show Quote

Maybe you can do a rate hold? Call your local broker and find out. Even if you can't hold this rate, it's always worth having a hold on some kind of rate. Really no downside.

This quote is hidden because you are ignoring this member. Show Quote

I have a rate hold that expires next month from earlier in the year. Hopefully conditions waive next week on my condo so I can confirm possession for May 31 and start looking seriously June 1st. I realize now I can’t qualify anyway because I’m putting ~50% down on the next place so I’m stuck with shittier rates anyway.

There are still some rates available for you under 2%... feel free to reach out if you would like to chat / PM.

[Twin_Cam_Turbo]

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The 60 days starts from submission so assuming this rate sticks around, you may still get it depending on your purchase timing... plans? Feel free to call and we can chat... or PM and I will call you?

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There are still some rates available for you under 2%... feel free to reach out if you would like to chat / PM.

Thanks i may contact you depending on how waiving conditions go on my place the next few days.

[pheoxs]

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Thanks i may contact you depending on how waiving conditions go on my place the next few days.

You could also start shopping now and make an offer contingent on your sale going through too. That's somewhat common for real estate purchases. You'd just put your time for conditions to be a bit after the place you are selling.

[Twin_Cam_Turbo]

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You could also start shopping now and make an offer contingent on your sale going through too. That's somewhat common for real estate purchases. You'd just put your time for conditions to be a bit after the place you are selling.

Neither myself or my girlfriend have time to even shop right now anyway. The lender already told us we aren’t pre approved until the sale of my place goes through which could complicate things anyway.

[TimLacroix]

Bump - 1.74% still available.

[TimLacroix]

Bump - 1.74% is still available on High Ratio mortgages for Purchase and Switches (less than 20% down payment).

[TimLacroix]

Bump... bond market is up over past couple of days which will put pressure on this promotion. Call / PM for details or if it applies to you.

[Mitsu3000gt]

Are any mortgage companies offering to pay the break fee if you switch before renewal time?

[TimLacroix]

No, lenders do not pay for break/ penalty fees. The way some lenders can absorb the fees is to increase interest rate to ensure they are paid back for covering the fees. Some lenders offer cashback programs to cover the break fees as well... which again come at higher rates to ensure they are paid back - basically there are no free lunch.

Another note is that most if not all lenders will allow you to capitalize (include) up to $3,000 of the penalty into the new mortgage for an early renewal/ switch. Feel free to reach out if you would like us to analyze your current mortgage.