https://www.vancity.com/Rates/Mortgages/
https://www.vancity.com/Rates/?xcid=hp_pod_memberpreferredrates
Yah, but those links don't say anything about the variable rates, ie. what is "X" for their prime minus X variable rate mortgages.
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
Yah, but those links don't say anything about the variable rates, ie. what is "X" for their prime minus X variable rate mortgages.
i was just in vancity the other day shopping rates. prime minus .5 is pretty standard if you ask for it, prime minus .7 is usually do-able. their posted is prime minus .3
We don't know what our limits are, so to start something with the idea of being limited actually ends up limiting us.
Ellen Langer
yeah well fuck you all, i have prime -1.85 at the bank of mom.
How much are your transaction fees though?
How much are your transaction fees though?
ha!
not high, just lots of them though.
We don't know what our limits are, so to start something with the idea of being limited actually ends up limiting us.
Ellen Langer
i was just in vancity the other day shopping rates. prime minus .5 is pretty standard if you ask for it, prime minus .7 is usually do-able. their posted is prime minus .3
Best I could get from Vancity was -0.4 on a builder's mtg. Which for such a product I thought was pretty good. 3 months interest to bust out on completion, which is probably what I'll do and seek -0.8 or thereabouts. -0.86 is the lowest advertised right now http://www.ratehub.ca/best-mortgage-rates/5-year/variable
Best I could get from Vancity was -0.4 on a builder's mtg. Which for such a product I thought was pretty good. 3 months interest to bust out on completion, which is probably what I'll do and seek -0.8 or thereabouts. -0.86 is the lowest advertised right now http://www.ratehub.ca/best-mortgage-rates/5-year/variable
those mtgs are thru brokers and the lender is emcap which is a good company, but that particular product of -.85 has some nasty terms.
- the only way you can get out is if you sell or die
- besides standard penalties, there is also a 2.75% admin fee if do you get out
- while you can switch to a fixed rate if need be, the rates available won't be that great
it has some upsides, but also some risks.
when shopping for a mortgage the rate is not the only thing to consider, look at all the terms of the mtg before deciding who to give your business too. if you're wanting to pay your mtg off fast, things like the allowable amount of prepayments or yearly lump sums can mean years or even a decade or more off the length of your mtg.
and by the way, i'm not a mortgage broker, i just play one on the internet.
We don't know what our limits are, so to start something with the idea of being limited actually ends up limiting us.
Ellen Langer
i was just in vancity the other day shopping rates. prime minus .5 is pretty standard if you ask for it, prime minus .7 is usually do-able. their posted is prime minus .3
My guess is that the numbers vary up or down depending on what the mortgage market is like at the time you renew.
those mtgs are thru brokers and the lender is emcap which is a good company, but that particular product of -.85 has some nasty terms.
- the only way you can get out is if you sell or die
- besides standard penalties, there is also a 2.75 admin fee if you get out
- whil you can switched to a fixed rate if need be, the rates available won't be that greatit has some upsides, but also some risks. the rate is not the only thing to consider, look at all the terms of the mtg before deciding who to give your business too. if you're wanting to pay your mtg off fast, things like the allowable amount of prepayments or yearly lump sums can mean years or even a decade off the length of your mtg.
and by the way, i'm not a mortgage broker, i just play one on the internet.
Good to know, thank you.
Forum jump:
