So… elephant in the room…
What’s wrong with your credit?
So… elephant in the room…
What’s wrong with your credit?
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
I have no idea what you're trying to do.This quote is hidden because you are ignoring this member. Show Quote
Just get the "SPECIAL RATE" then, and then port the mortgage to the new house. What's the problem?
Nothing is wrong with it. Why do you ask?This quote is hidden because you are ignoring this member. Show Quote
Special rates are for purchases and switches. Not renewals. Apparently. And I'm trying to renew and sell my house and buy a new one. I guess you didn't read the last two pages of this thread?This quote is hidden because you are ignoring this member. Show Quote
Looking around
Wondering what became
Of what I once knew
Those rates you are quoting sound like “go away” quotes to me
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
No one with good credit pays those posted rates. They are all negotiable.
My Tesla referral link: https://ts.la/moon14483
Tesla new owner FAQ: https://forums.beyond.ca/threads/411...37#post4928237
RBC posted rate is 6.79% on a 5 year fixed so...... ????This quote is hidden because you are ignoring this member. Show Quote
Looking around
Wondering what became
Of what I once knew
And yet they are quoting you numbers above that, when they offer everyone and their dog discounts to those rates.This quote is hidden because you are ignoring this member. Show Quote
But sounds you you have it all figured out. Sign on for 9.8% no water off my back.
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
Yes they do. They sign the paperwork after selecting an option on the form and send it back to the bank instead of going into the bank to talk to them. This is why, the last time I renewed, the mortgage specialist said it was always beeter to come in rather than sign an option and send it back. Many people don't come in is what she said.This quote is hidden because you are ignoring this member. Show Quote
- - - Updated - - -
What in the flying fuck are you talking about? I feel like I'm in a Reddit thread. They offered me 6.19% on a 5 year fixed. That's lower than 6.79 the last time I checked.This quote is hidden because you are ignoring this member. Show Quote
Looking around
Wondering what became
Of what I once knew
Okay, so switch your mortgage to RBC and then sell your house and buy another house. What exactly is the problem?This quote is hidden because you are ignoring this member. Show Quote
For context, I just recently signed a renewal at 5.35% 5-year fixed with a major bank. They originally offered me 5.50% and I got them down a little bit (though not as low as I had hoped).This quote is hidden because you are ignoring this member. Show Quote
You need to sit down with someone to go over your finances and situation (ie: not fucking Beyond) and come up with a game plan. You need to factor in any penalties, porting ability and rates.
Your decision will not come from this thread I promise you that.
Last edited by msommers; 02-07-2024 at 05:15 PM.
Ultracrepidarian
did you contact the beyond specialists who do this for a living vs asking just the beyond awakening wonders
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
Hey we're better than Reddit.This quote is hidden because you are ignoring this member. Show Quote
Hey, there we go. An idea to ponder.This quote is hidden because you are ignoring this member. Show Quote
I was more or less asking for some guidance as I have not done anything whatsoever regarding this stuff. Most people here are more levelheaded and have good ideas. There has been good discussion here tho and I'll take these ideas with me moving forward. Thank you for posting your rate as well. I'm going to try and negotiate a better rate and see what happens. I'll meet up with servus, RBC and a broker after. Just need to get going on this.This quote is hidden because you are ignoring this member. Show Quote
Looking around
Wondering what became
Of what I once knew
Guidance:
“Go talk to someone who has the full story”
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
I am. I was hoping to be armed with more "facts and data" before going in.This quote is hidden because you are ignoring this member. Show Quote
Looking around
Wondering what became
Of what I once knew
Yes, the difference in the two is purely interest so you’re comparing the holding costs correctly.This quote is hidden because you are ignoring this member. Show Quote
If you leave for RBC, it’s a switch. If it’s cheaper, go for it… but be warned that if you port and need to increase the mortgage size… you might not have the best rate vs getting a brand new mortgage when you buy.
For the record, 9.xx% is a good open rate… opens are not cheap, there is no discount for anyone, they don’t want you in an open. It’s true cost of capital for them.
This quote is hidden because you are ignoring this member. Show Quote
This is a good angle and may be (IMO) the deciding factor in porting. Good catch. Insured mortgages get better rates and to renew, port and use the cash to "top up" would probably leave OP in the best overall position.
@ercchry
Got some stuff going with RBC this morning to see what they'd be doing. She said essentially what you said; get a new mortgage. Best course of action is to just select the open mortgage with Servus and start a new one with RBC, if I'm interested in being with RBC. Going thru those motions to see what the rate would be right now.
Looking around
Wondering what became
Of what I once knew
Not sure if RBC does 180 day rate holds for preapprovals, but would be a good backup in case the BOC does something stupid, but the rate won’t be great, chances are the market rates for live deals closer to possession of the new place will be way better… might require moving to a different lender all together though at that point, not 100% sure how RBC works as they’re not in the broker channel but usually a lender allows 1 rate adjustment before close.
Yup. She did mention that as well. They can do a rate adjustment. Will keep that in mind tho. Thanks!This quote is hidden because you are ignoring this member. Show Quote
Looking around
Wondering what became
Of what I once knew