Variable Mortgage Rates

[Sherwoodparkcondos]

Hi,
I`m looking to hear from people who are in the fortunate position to get fully discounted rates from the banks on their rentals. I`d like to hear what people are getting on 5yr open variables and closed variables.
One of the mortgage professionals I work with (Scotia) are offering .75 below prime on closed variables.
CIBC is offering .35 below prime on an open variable.

Thanks

 

[NeilUttamsingh]

QUOTE (Sherwoodparkcondos @ Nov 17 2010, 11:31 PM) Hi,
I`m looking to hear from people who are in the fortunate position to get fully discounted rates from the banks on their rentals. I`d like to hear what people are getting on 5yr open variables and closed variables.
One of the mortgage professionals I work with (Scotia) are offering .75 below prime on closed variables.
CIBC is offering .35 below prime on an open variable.

Thanks

Hi Sherwoodparkcondos,

You are correct with Scotia`s rate. They are offering prime minus .75.
I do believe that CIBC is currently offering the same.
Mtg Brokers, please confirm.

Regards,
Neil.

 

[willy]

I just signed a mortgage with RBC for Prime -0.65.

 

[kboughen]

Quoting interest rates without knowing applicant details requires some guess work with respect to; income, liabilities, credit score, credit history, liquid assets, net worth, property type, portfolio performance, ownership structure (corp/personal), occupancy status (owner occupied/rental), required LTV………….

Generally speaking, both Scotia and CIBC have P-.75 available today.

 

[DaveL]

I just closed on a deal last week and got P-.75 through FirstLine