mortgage rate

qiuyi_01

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CMLS financial offers five yr fixed at 2.59%.

Anybody heard of CMLS? Is there any risk to use broker than bank?

Thanks
 

向问天

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这家我在用,没问题。
 

冷笑十声

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CMLS financial offers five yr fixed at 2.59%.

Anybody heard of CMLS? Is there any risk to use broker than bank?

Thanks
他借你钱,有什么担心的。最差是五年后不能续借而已,换一家即可。
 

向问天

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需要事先了解的2项:
容许多还钱吗?
提前终止罚多少?
 

qiuyi_01

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他借你钱,有什么担心的。最差是五年后不能续借而已,换一家即可。
My mortgage is now with RBC at a higher rate, I'm refinancing to have a better rate.

RBC is offering five yr fixed at 2.79%, if I stay with RBC, I don't need to pay discharge fee which is 376 dollars, I don't need to pay 560 legal fee from CMLS.

I just don't know if it's a good idea to switch from RBC to CMLS.
 

冷笑十声

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My mortgage is now with RBC at a higher rate, I'm refinancing to have a better rate.

RBC is offering five yr fixed at 2.79%, if I stay with RBC, I don't need to pay discharge fee which is 376 dollars, I don't need to pay 560 legal fee from CMLS.

I just don't know if it's a good idea to switch from RBC to CMLS.
depends how much mortgage you borrowed from RBC
 

向问天

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My mortgage is now with RBC at a higher rate, I'm refinancing to have a better rate.

RBC is offering five yr fixed at 2.79%, if I stay with RBC, I don't need to pay discharge fee which is 376 dollars, I don't need to pay 560 legal fee from CMLS.

I just don't know if it's a good idea to switch from RBC to CMLS.

每10万每年省$200.
Do your own math.
 

qiuyi_01

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每10万每年省$200.
Do your own math.
Isn't the mortgage rate compounded? It should save me a little bit more than $200 for every 100k/yr but I don't know how much it is.
My mortgage is about 200k, for five year, it will save me more than 2000 if I switch.
If I switch, I need to pay 376 discharge fee + 560 legal fee = 936.
Right now, I don't know if there will be an appraisal which will cost another 250. I don't think there will be a appraisal for my case.

So if there is no appraisal, I should switch.
 

向问天

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Isn't the mortgage rate compounded? It should save me a little bit more than $200 for every 100k/yr but I don't know how much it is.
My mortgage is about 200k, for five year, it will save me more than 2000 if I switch.
If I switch, I need to pay 376 discharge fee + 560 legal fee = 936.
Right now, I don't know if there will be an appraisal which will cost another 250. I don't think there will be a appraisal for my case.

So if there is no appraisal, I should switch.
是 Compounded, 但是同时你借的钱也越来越少。
抵消 Compound.
 

qiuyi_01

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是 Compounded, 但是同时你借的钱也越来越少。
抵消 Compound.
Thanks.
Just confirmed that there is no appraisal, so I will switch.
 

qiuyi_01

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需要事先了解的2项:
容许多还钱吗?
提前终止罚多少?
They allow 20% lump sum payment every year.
Did ask about penalty if pay off before 5 yr end.
 

向问天

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They allow 20% lump sum payment every year.
Did ask about penalty if pay off before 5 yr end.

一般罚三个月的利息。
 
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