Quote:
Originally posted by investpro
Quote:
Originally posted by vimpatel
One of my clients just closed on his house and we got a rate of 4.95% fixed rate through a mortgage broker friend of mine.
Would you please be so kind as to share the name of the institution with the rest of the forum?
Please note I am not doubting your word- I just wish to know the name of the institution.
Thanks,
His client must have locked the rates earlier through the broker even though the closing was done very recently.
I was also offering 4.94% for a 5 year term till 10 days ago and if some one had locked that rate then he could close the deal till mid may 2007.
This rate was being offered by a credit union and till today their rate is 5.04% for 5 year term and I have sent 3 deals to them yesterday for my clients which means the rate is locked for them till end of May, 2007.
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
Location: carl sagan's universe
Posted on: 01-02-07 12:06:52
Thx Pramod.
Actually I called up several contacts yesterday and there are indeed a couple of institutions still offering 4.9% . I have not done any mortgage deals for the last 2 months as I was heavily swamped with the RESP season in Dec and am currently swamped with RRSP, but I have in the last several days been contacted for mortgages and am picking up the threads.
But thx anyway.
Repeating your question here Investpro..can you share with the forum the name of the lender-bank/ broker. I am in the market and such info. would be really helpful.
arcrave,
Well due to stiff competition mortgage broker can buy done the rate to offer 4.9% fixed rate.
-Mercury
So I had a meeting with my broker last evening, She is offering me prime - .95 for 6 months and then it would be 5.6%. Its variable with 3 year term reviewed quarterly ( as opposed to 8 times a year ).
I was pre-approved ( before the rate increase i.e in dec ) for 5.09 ( 5 year fixed ). I asked for other details and basically she is saying that i can pay up to 20%/month over my regular payment and 54K/per year on top of that 20%. I am thinking of opting for variable ?? wondering if this is a good deal ? anything I am missing and should be careful about ??
Thanks
Location: carl sagan's universe
Posted on: 03-02-07 15:20:46
Quote:
Originally posted by arcrave
Repeating your question here Investpro..can you share with the forum the name of the lender-bank/ broker. I am in the market and such info. would be really helpful.
Hi,
Since the question was posed of JRF first, perhaps we should let him/her have the honor of giving us the name of his/her lending institution.
Should JRF not give an answer in 48 hours, I will def PM you at least one name of a leanding (purposely misspelt to denote leading and lending) institution still offering 4.9%.
If you feel like having fun and wish to tax the brain a little over the weekend, here's a hint: Think of Stephane Dion's message: Green.
Location: carl sagan's universe
Posted on: 03-02-07 15:22:05
Quote:
Originally posted by arcrave
So I had a meeting with my broker last evening, She is offering me prime - .95 for 6 months and then it would be 5.6%. Its variable with 3 year term reviewed quarterly ( as opposed to 8 times a year ).
I was pre-approved ( before the rate increase i.e in dec ) for 5.09 ( 5 year fixed ). I asked for other details and basically she is saying that i can pay up to 20%/month over my regular payment and 54K/per year on top of that 20%. I am thinking of opting for variable ?? wondering if this is a good deal ? anything I am missing and should be careful about ??
Thanks
Not to offend you, but if I read you right, you've got a raw deal.
