Offer from bank on Mortgage renewal


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Aurn   
Member since: Jan 07
Posts: 76
Location:

Post ID: #PID Posted on: 07-04-09 23:23:51

Hi,

My mortgagee renewal is due on August, 2009. My current bank offered me
3.90% fixed for five years. Bank also offer me, I can start this rate from May instead of August and without any plenty.

Pls. let me guide how this rate is and should I accept this offer?


Thanks



vikshr   
Member since: Aug 07
Posts: 157
Location:

Post ID: #PID Posted on: 08-04-09 12:13:09


Sounds like a good deal to me....

Do you mind telling which bank it is ?


-----------------------------------------------------------------
Vik


niteshk   
Member since: Mar 07
Posts: 5
Location: Mississauga, ON

Post ID: #PID Posted on: 08-04-09 12:50:52

Hi Aurn,

We are currently offering 3.85% on a 5 yr fixed. PM me if you are interested and I will forward you the details.

Regards,
Nitesh Kumar



Ritzok   
Member since: Jan 05
Posts: 28
Location:

Post ID: #PID Posted on: 08-04-09 13:01:49

Hi Arun,

If you have good credit score/payment history, there are lenders who can offer you around 3.70%. Please, look at other places, there are lots of deals out there.

Ritzok



Aurn   
Member since: Jan 07
Posts: 76
Location:

Post ID: #PID Posted on: 08-04-09 14:06:53

Thanks for the reply.

vikshr, bank is BMO.



vikshr   
Member since: Aug 07
Posts: 157
Location:

Post ID: #PID Posted on: 08-04-09 14:43:11

Quote:
Originally posted by Aurn

Thanks for the reply.

vikshr, bank is BMO.




Thanks Aurn...
Before switching dont forget your bank is absorbing penalty in this 3.90% offer.... if you switch bank, you may get 3.85% but you will be paying penalty ....

As for 3.70%, we would appreciate specific info please (i.e. which bank?)... I just had a conversation with a reputed and experienced mortgage broker and the best he could do was 3.84% for 5yr fixed....






-----------------------------------------------------------------
Vik


Ritzok   
Member since: Jan 05
Posts: 28
Location:

Post ID: #PID Posted on: 08-04-09 15:22:45

Here is link for 3.69% rate and I just spoke to TD and they are ready to beat even this rate.

http://www.mortgagesmadeeasy.com/

Cheers,





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