MORTGAGE RENEW问题

[师长]

请问FIXED RATE的在DUE DATE前多少天可以再去询价RENEW?离DUE DATE大约18个月。

我先前的那个RATE高啊，很想赶紧找一个低的PRE APPROVAL或LOCK住。

 

[oread]

通常在你mortgage的open period里就能随时更换mortgage了。一般五年mortgage，最后两年是open period；三年的则是最后一年。

 

[shusheng]

再有就是如果不是在open period里，那就只有Pay Panalty了。好象是三个月的利息?

 

[看你就烦]

如果你当初的 Rate 贼高，你可以去找你原来的 Agent 和/或贷款银行，要求作些调整。至于 Penalty 也是可以商量的。数月前，俺的调低了 0.4 个百分点就没被罚款。

 

[Sophia]

就是就是。我今年7月将一年前的5.45%五年的固定mortgage rate 调整为4.75%.没有early renewal fee.

 

[adpost]

最初由 Sophia 发布
就是就是。我今年7月将一年前的5.45%五年的固定mortgage rate 调整为4.75%.没有early renewal fee.

I heard that some lenders charge more for the break term penalty than others lenders. We would like to use variable rate prime-0.7 recently but not sure about whether it is a good plan. Any suggestion?

 

[Pear]

最初由 渐渐 发布
通常在你mortgage的open period里就能随时更换mortgage了。一般五年mortgage，最后两年是open period；三年的则是最后一年。

什么地方可以找到有关mortgage open period的说明？ 是银行规定的还是政府规定的？

 

[oread]

It should be on your mortage agreement. Contact your broker or your mortgage bank for details. Normally, for rate change less than .4%, there won't be any penalty. There are 2 methods for calculating prepayment (same for penalty), whichever is higher:

1: 3 months mortgage interest.
2: Rate differential.

 

[Pear]

最初由 渐渐 发布
It should be on your mortage agreement. Contact your broker or your mortgage bank for details. Normally, for rate change less than .4%, there won't be any penalty. There are 2 methods for calculating prepayment (same for penalty), whichever is higher:

1: 3 months mortgage interest.
2: Rate differential.

Thanks a lot.

 

[caimin]

最初由 渐渐 发布
通常在你mortgage的open period里就能随时更换mortgage了。一般五年mortgage，最后两年是open period；三年的则是最后一年。

Different banks have different polices. Most of the variable rate polices are open for the last two years for the five year term. But for almost all fixed five year term rate mortgage, the last two years are not fully open.

 

[caimin]

最初由 Sophia 发布
就是就是。我今年7月将一年前的5.45%五年的固定mortgage rate 调整为4.75%.没有early renewal fee.

At that time, you could easily get five year term rate at 4.5%, or 4 year term rate even lower. The interest difference charged was your early renewal "FEE".

If you consulted a broker, the broker would have told you which would be better for you, breaking your current mortgage or simple doing the early re-new.