- Joined
- Jul 25, 2017
- Messages
- 13
Hello,
I remember reading in "Real Estate Investing in Canada" that it is possible to negotiate a mortgage rate up to about 0.25%. Do you guys have any tips on how to go about negotiating the rate?
I am currently purchasing my second rental property and dealing with CIBC for the mortgage as they had the best terms/rates. Right now, I have 2.94% , 2 years fixed, locked in.
CIBC is telling me that, because it will be a rental property, they have to add 0.15% to the rate and, because I want a 30 year mortgage, they have to add another 0.10%. Should I fight back?
Thank you for sharing your thoughts.
I remember reading in "Real Estate Investing in Canada" that it is possible to negotiate a mortgage rate up to about 0.25%. Do you guys have any tips on how to go about negotiating the rate?
I am currently purchasing my second rental property and dealing with CIBC for the mortgage as they had the best terms/rates. Right now, I have 2.94% , 2 years fixed, locked in.
CIBC is telling me that, because it will be a rental property, they have to add 0.15% to the rate and, because I want a 30 year mortgage, they have to add another 0.10%. Should I fight back?
Thank you for sharing your thoughts.