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#8716534 - 07/06/16 06:43 PM Re: Another mortgage thread...questions [Re: civic13]
SW20_MR2 Offline
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Registered: 08/27/01
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Loc: Markham, Ontario, Canada
You can always get a LOC separately from any bank. Not like it's difficult.
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#8716571 - 07/06/16 07:34 PM Re: Another mortgage thread...questions [Re: SW20_MR2]
Hatorade Offline
pheggit
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Registered: 11/05/99
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 Originally Posted By: SW20_MR2
You can always get a LOC separately from any bank. Not like it's difficult.


But won't that be higher than a HELOC?
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I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr

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#8716587 - 07/06/16 07:58 PM Re: Another mortgage thread...questions [Re: Hatorade]
Riskhe Business Offline
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Wowowowo td emailed me just saying new promotion is in and they are dropping rates. WOOOOOOHOOO

Looks like the Brexit drove down rates a lot so if you are in the middle of renewal this is a GREAT TIME \:D
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#8716620 - 07/06/16 08:35 PM Re: Another mortgage thread...questions [Re: Hatorade]
civic13 Offline
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 Originally Posted By: Hatorade
 Originally Posted By: SW20_MR2
You can always get a LOC separately from any bank. Not like it's difficult.


But won't that be higher than a HELOC?

That's what I was thinking. A HELOC will probably have lower interest rate correct?
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#8716728 - 07/06/16 09:48 PM Re: Another mortgage thread...questions [Re: Hatorade]
SW20_MR2 Offline
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Registered: 08/27/01
Posts: 5282
Loc: Markham, Ontario, Canada
It still is a HELOC.

 Originally Posted By: Hatorade


But won't that be higher than a HELOC?
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1991 MR2 Turbo aka "The Myth"...does it really exist?
2006 Mazda3 Sport aka "Reality"...it really does exist...

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#8757077 - 08/11/16 04:00 PM Re: Another mortgage thread...questions [Re: civic13]
Riskhe Business Offline
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Renewed directly with scotia 2 year fixed 1.97%
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#8757113 - 08/11/16 04:21 PM Re: Another mortgage thread...questions [Re: Riskhe Business]
Hatorade Offline
pheggit
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Registered: 11/05/99
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Loc: Toronto, ON
Nice.
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'07 997.1 GT3
'08 E90 M3
'11 E90 d
'02 Rota Grid - 195-55-16FR (RIP)
'04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi)
I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr

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#8760937 - 08/15/16 12:03 PM Re: Another mortgage thread...questions [Re: Hatorade]
spd-dmn Offline
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Registered: 11/24/04
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Lol are they selling fixed below variable now?

All rules out tha window
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#8760974 - 08/15/16 12:19 PM Re: Another mortgage thread...questions [Re: spd-dmn]
Riskhe Business Offline
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It's silly isn't it, but they are basically forcing everyone to fixed...maybe it's coming (the high rates) I don't know? This is the bank's way of saving face or delaying the inevitable.
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#8760988 - 08/15/16 12:23 PM Re: Another mortgage thread...questions [Re: Riskhe Business]
Hatorade Offline
pheggit
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Registered: 11/05/99
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Loc: Toronto, ON
Yup been 2yr fixed for a few years now. It's always been the lowest I can get.
_________________________

'07 997.1 GT3
'08 E90 M3
'11 E90 d
'02 Rota Grid - 195-55-16FR (RIP)
'04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi)
I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr

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#8761067 - 08/15/16 12:46 PM Re: Another mortgage thread...questions [Re: Riskhe Business]
Screamin' Type-R Offline
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Registered: 02/20/01
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 Originally Posted By: Risky Business
Renewed directly with scotia 2 year fixed 1.97%


nice. our 6-month early lock-in rate is due up in Sept. so i'll see what rbc can do. been doing 2yr fixed for awhile now...right now at 2.05%
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#8761297 - 08/15/16 02:13 PM Re: Another mortgage thread...questions [Re: Screamin' Type-R]
spd-dmn Offline
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Registered: 11/24/04
Posts: 2271
i think the real push is into shorter terms

2 is, or will be, the new 5
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#8776429 - 08/30/16 11:09 AM Re: Another mortgage thread...questions [Re: spd-dmn]
Senor Eduardo_82 Offline
miataist
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We've got a 3yr 2.14% offer available to staff now. So cheap, time to buy a Mississauga townhouse.
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#8776466 - 08/30/16 11:25 AM Re: Another mortgage thread...questions [Re: Senor Eduardo_82]
Riskhe Business Offline
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Registered: 05/17/10
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#8776473 - 08/30/16 11:29 AM Re: Another mortgage thread...questions [Re: SW20_MR2]
Big Tasty Offline
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Registered: 02/10/02
Posts: 19954
Loc: Toronto
 Originally Posted By: SW20_MR2
It still is a HELOC.

 Originally Posted By: Hatorade


But won't that be higher than a HELOC?


I haven't switched my accounts (all in rbc) to my mortgage bank (cibc) yet...been lazy. Debating who I should go with for LOC since my old one was closed off when we moved our mortgage.

Would be nice to have everything in one spot but come renewal, I will move the mortgage to whoever offers the best deal so moving everything else kinda seems pointless. Guess i could keep mortgage and LOC tied to same bank and keep my other stuff as is...or does it make any difference in the end?
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#8776478 - 08/30/16 11:32 AM Re: Another mortgage thread...questions [Re: Big Tasty]
Riskhe Business Offline
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There will be penalties probably
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#8776482 - 08/30/16 11:34 AM Re: Another mortgage thread...questions [Re: Riskhe Business]
Big Tasty Offline
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Registered: 02/10/02
Posts: 19954
Loc: Toronto
Penalties for what? I am looking to open a new LOC since last one was closed with my old mortgage when I bought my current place.
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#8776515 - 08/30/16 11:58 AM Re: Another mortgage thread...questions [Re: Big Tasty]
TheRealCSnapper Moderator Offline
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Registered: 12/05/02
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Loc: Toronto, Canada
make sure whoever you have your HELOC with is not registering a collateral charge loan (or whatever it's called) because there's a fee associated with those when you break it/close it.
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#8776810 - 08/30/16 02:39 PM Re: Another mortgage thread...questions [Re: TheRealCSnapper]
iamfob Offline
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Registered: 09/06/02
Posts: 24698
Loc: Out There
 Originally Posted By: TheRealCSnapper
make sure whoever you have your HELOC with is not registering a collateral charge loan (or whatever it's called) because there's a fee associated with those when you break it/close it.


TD and Scotiabank STEP are collateral mortgage registered against the title of the property
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