| HawthorneVillager.com http://www.hawthornevillager.com/phpbb/ |
|
| 5 Year Fixed mortgage rate special below 3% http://www.hawthornevillager.com/phpbb/viewtopic.php?f=3&t=43846 |
Page 1 of 1 |
| Author: | PaulMeredith [ Thu Jan 12, 2012 4:26 pm ] |
| Post subject: | 5 Year Fixed mortgage rate special below 3% |
I figured it would come sooner or later, but the day has come when I can actually offer it. I have a 5 year fixed special for 2.99% for Hawthorn Village members (our regular rate is 3.15%). This is a 30 day quick close special with a limited prepayment privilege of 5%. I also have some great rates available with closings up to 120 days as well as shorter term mortgage rate specials. Send me an email at paulm@citycan.com or give me a call for more info. |
|
| Author: | PaulMeredith [ Fri Jan 13, 2012 6:23 am ] |
| Post subject: | Re: 5 Year Fixed mortgage rate special below 3% |
minibree wrote: PM sent Hi Minibree... I didn't receive the PM. Can you please resend or even better, email me at paulm@citycan.com. Thanks! |
|
| Author: | OneUnited [ Fri Jan 13, 2012 8:07 am ] |
| Post subject: | Re: 5 Year Fixed mortgage rate special below 3% |
Wouldn't what BMO announced yesterday be a better option based on the payment terms? I know there is more to it than that and dependent on each client etc. but letting people know about this one: http://www.canadianmortgagetrends.com/c ... ecord.html |
|
| Author: | PaulMeredith [ Fri Jan 13, 2012 9:18 am ] |
| Post subject: | Re: 5 Year Fixed mortgage rate special below 3% |
Yes and no. Let's compare the two. BMO's mortgage has a rate hold up to 90 days, compared with 30 days on the one I am promoting. Definitely a plus for them, but if you have a mortgage closing within 30 days, or looking at refinancing, it is irrelevant. BMO's is FULLY closed for the full 5 years. Meaning, you cannot pay the mortgage off in full, or refinance (outside BMO) during this period). Mine is fully closed for the first 3 years only. This is a big one considering the the majority refinances after 3 years. Limited prepayment privilege of 10% on BMO vs. 5% on mine. BMO gets the edge on this one as well, but is really only a factor if you plan on making large lump sum payments toward your mortgage each year. Most don't exercise their prepayment options. Even with 5%, that is still $15,000 per year on a $300,000 mortgage. BMO has a limited amortization of 25 years, where as the one I am promoting you can go up to 30 years. There you have the full comparison of the differences between the two. The BMO mortgage may be more suited to some people, and mine may be more suited to others. It really depends on your situation. |
|
| Author: | OneUnited [ Sat Jan 14, 2012 2:32 am ] |
| Post subject: | Re: 5 Year Fixed mortgage rate special below 3% |
Paul, Thank you for the comparison, all parts are valid. Will depend on each person's situation. |
|
| Page 1 of 1 | All times are UTC - 5 hours |
| Powered by phpBB® Forum Software © phpBB Group https://www.phpbb.com/ |
|