Morgage rate + good time to buy???

[ate-star]

I got a fixed 5 year term interest rate at 5.04 this weekend and this rate can be hold for one year. Is it a good deal or any room to negotiate. Thanks a lot!

BTW, the house price has gone up crazy in the past few months. Do you have any prediction about the future price. Can I wait to buy next spring and the price stays the same as now.

Thank you very much!

 

[dkwan]

a fixed 5 year 5.04 is not a bad choice, but you might qualify for a better rate but you dont know.

Questions:

1) Is it a new home? or changing your Mortgage?
2) What is the amount of your mortgage?
3) What is the monthly payment?
4) What is the amortization year?
5) Biweekly payment? or Monthly payment?

Those questions are very important. reply and answer you more!

 

[imported_test]

Could you please share with us where you got such good mortgage deal? thanks,

 

[ate-star]

最初由 dkwan 发布
a fixed 5 year 5.04 is not a bad choice, but you might qualify for a better rate but you dont know.

How would be qualified for the best rate? When I said to them I know someone who got 4.8 from you recently, they said that was a couple weeks ago. It is bank of Montreal.

Questions:

1) Is it a new home? or changing your Mortgage?

I have 3 year mortgage with bmo and my term will be ending this Oct. I want to sell the current house and buy other one. Consequently, not only continue to borrow but even a bigger amount if I'm still with them.

2) What is the amount of your mortgage?
The perspective amount is between 180K and 200K.

3) What is the monthly payment?
around $1000-1200 depending on the rate.

4) What is the amortization year?
25 years.

5) Biweekly payment? or Monthly payment?
Biweekly.

Those questions are very important. reply and answer you more!

I think they should have offered a more better rate than this.

Thanks very much, I appreciated it.

 

[zhuzhu]

hi,

What the bank do is *do or die*, they will never look for a better rate for you because they only work for his/her bank.

At many times, you are qualify for a better rate if your credit rating is good/very good if your rating is very good.. but how the bank works is, if your credit rating is good, they give you the mortgage. If the rating is not good, they will just decline it and period.

So, find a broker that will help you to the maximum. She can get as low as 4.95% for 5 years.

Her name is Vivyen, number is 8681603. She is very very good.

Hope the best!~

 

[GreenShadow]

The best rate I got for 5-year fixed is 4.94% recently.

 

[nova]

Here's my rate got from TD last week:
5 year fixed: 4.95%
3 year fixed: 4.35%

TD also offer the credit line for partial mortgage with the variable rate (prime, 3.75%). No limitation and penalty. I think this is the best way to pay your mortgage.

 

[笑傲江湖]

最初由 nova 发布
Here's my rate got from TD last week:
5 year fixed: 4.95%
3 year fixed: 4.35%

TD also offer the credit line for partial mortgage with the variable rate (prime, 3.75%). No limitation and penalty. I think this is the best way to pay your mortgage.

Which branch did you go? and what is the personal banker's name you talked with?

Thanks Nova.

 

[nova]

最初由 xyz139 发布


Which branch did you go? and what is the personal banker's name you talked with?

Thanks Nova.

check your QQH

 

[swc]

最初由 nova 发布
Here's my rate got from TD last week:
5 year fixed: 4.95%
3 year fixed: 4.35%

TD also offer the credit line for partial mortgage with the variable rate (prime, 3.75%). No limitation and penalty. I think this is the best way to pay your mortgage.

Could you please tell me the information about the branch and the personal banker you deal with?
Thanks a lot.

 

[donghy]

最初由 nova 发布
Here's my rate got from TD last week:
5 year fixed: 4.95%
3 year fixed: 4.35%

TD also offer the credit line for partial mortgage with the variable rate (prime, 3.75%). No limitation and penalty. I think this is the best way to pay your mortgage.

I hope to know the branch and the personal banker too.
Thank you very much.

 

[nova]

It's TD Bashore Branch. Anyone should be fine. But today I was told I got the good rate because I have a good credit record and I also have an account in TD. So I can't guarantee you could get the same rate. Another thing I would like to share is you could apply for the "line credit" for your mortgage. You can lock part of it and leave rest for open. This way you could take the advantage of low interest rate now (the prime is 3.75). And yet you can prevent the open rate goes to too high.

 

[donghy]

最初由 nova 发布
It's TD Bashore Branch. Anyone should be fine. But today I was told I got the good rate because I have a good credit record and I also have an account in TD. So I can't guarantee you could get the same rate. Another thing I would like to share is you could apply for the "line credit" for your mortgage. You can lock part of it and leave rest for open. This way you could take the advantage of low interest rate now (the prime is 3.75). And yet you can prevent the open rate goes to too high.

Thanks for your information. It will be very useful.