Mortgage in Toronto
Добавлено: 08 сен 2008, 10:50
My bank offers these rates - is there are a place for better rates?
Renewal options:
- Better than Prime - this is a 5 year variable mortgage. For the 1st 9 months, the rate is prime less 1.01% or 3.74%. After 9 months, the rate is prime less 0.25%. Current prime is 4.75%. This mortgage can be converted into fixed rate anytime with a minimum term of 3 years. You are also allowed to prepay up to 15% per year.
- Variable rate flexible 5 year mortgage. This is based on prime less 0.60%. You are allowed to prepay up to 20% per year. Also convertible to fixed rate mortgage with minimum term of 3 years.
- Year fixed rate mortgage - Current 5 year fixed is 5.35%.
Renewal options:
- Better than Prime - this is a 5 year variable mortgage. For the 1st 9 months, the rate is prime less 1.01% or 3.74%. After 9 months, the rate is prime less 0.25%. Current prime is 4.75%. This mortgage can be converted into fixed rate anytime with a minimum term of 3 years. You are also allowed to prepay up to 15% per year.
- Variable rate flexible 5 year mortgage. This is based on prime less 0.60%. You are allowed to prepay up to 20% per year. Also convertible to fixed rate mortgage with minimum term of 3 years.
- Year fixed rate mortgage - Current 5 year fixed is 5.35%.