Share Interest Rate

[icewine10]

My new home's closing date is Nov. 2010, as most of the lenders only hold the best rate for 120 days, therefore I haven't lock the rate yet. Is there anyone whose closing date around the same time? If you happend to get a good rate from the banks, could you share with us? Many thanks.

 

[苦逼热狗]

如果builder用的银行跟你做pre-approval mortgage的银行是同一个的话，一般都可以hold住1年

 

[icewine10]

They did give me a rate, it's not that good, it's 4.5 for 5 fixed. Ottawa Carleton Mortgage said they can give me 4.24 for 5 fixed, but they ask me to wait till July to contact them. I am sure interest will go up a lot by July.

如果builder用的银行跟你做pre-approval mortgage的银行是同一个的话，一般都可以hold住1年

 

[jmm]

so, you should take 4.5% then

 

[David89]

You can lock the 4.5% with that bank, and you can seek better deal with other banks. And at anytime, you still have the option to use a variable rate (Prime - 0.x).

 

[WXH]

I got 3.3% at TD, 3 year fixed, hold to March 15. 2012

 

[icewine10]

WXH,

Could you email me your TD contact info? 3.3% for 3 year fixed is a very good rate. My email lobster_y@yahoo.com. Thanks for your helpful info.

Icewine10

I got 3.3% at TD, 3 year fixed, hold to March 15. 2012

 

[westwitch]

Can I get the TD contact info too? Thanks a lot!

 

[dragonman]

Does this include the cash back? You may get even lower rate without the cash back.

 

[WXH]

Tel: 613-783-6200 ext 247

I first held it 3 year fixed @3.2 for purchasing a Minto home in March. TD offers special for Minto home purcahse. In later April, I discussed with them because I am not to purcahse a Minto house but with another builder. TD agreed the 3 year fixed @3.3.

 

[jmm]

that's very very good rate, but no more, because after April 1, all the bank increase the rate, good luck.

 

[icewine10]

I just got the rate from TD today:

1 Year Fixed @ 2.90% -3 Year Fixed @ 3.95% *comes with a 1% cashback
-5 Year Fixed @ 5.10% *also comes with the cashback


should I choose 1 year fixed @2.9% (NO cash back) or 3 year fixed @ 3.95% with 1% cashback, kindly please have your comments. Thanks.

that's very very good rate, but no more, because after April 1, all the bank increase the rate, good luck.

 

[jmm]

if you want to have short term rate, why you don't go to variable rate, p-0.5, even better. but you have qualitfied for the post rate first @ 6.15% if you take one year or 3 years, how about when term up, don't forgert the first couple years you only pay interest, no touch principal much yet, then you have to renegotiate, maybe got higher rate then. find mortgage borker or agent, let them shopping the rate for you might be better choice! i asked my broker, she said the TD 5 years she can find is 4.44% for 5 years no cash back.

 

[icewine10]

where did you find your broker? 4.44% is a pretty good deal, how long can this rate hold for? my closing date is Nov. 3, 2010. Can you qqh me your broker contact info?

if you want to have short term rate, why you don't go to variable rate, p-0.5, even better. but you have qualitfied for the post rate first @ 6.15% if you take one year or 3 years, how about when term up, don't forgert the first couple years you only pay interest, no touch principal much yet, then you have to renegotiate, maybe got higher rate then. find mortgage borker or agent, let them shopping the rate for you might be better choice! i asked my broker, she said the TD 5 years she can find is 4.44% for 5 years no cash back.

 

[jmm]

my broker is Jennifer Xie 613-8518807