Posted on: 16-05-11 08:35:23
Hello Fellow Desi's
Beware from wrong people. Any one offering very low rate might be selling wrong thing. Don't just concentrate on rates. I just came to know from manager in bank about all this. how they offer such rates, whatever they are offering ,still they are taking more then double money from buyers pocket. He gave me good deal with all features. PM me if you like to contact him.
May be he can help you too.
I know Sudesh that he is prudent and dilligent in stuff he do or suggest. If he has suggested something here is for benefit of others does not mean he is inclined to trap people into it. I think this thread is going towards that message.
We all are sensible and we all take our own decision at our own free will. You like you take it and if you don't chew just throw it away.
Bank Managers are not that sweet as they sound to be. For me, atleast the information gives me a ball park to negotiate around.
Hi CD friends,
I agree with Desi # 1, , Sudesh Ji is indeed very senior CD on the forum and he has definitely guided members for their benefit based on his experiences.
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mor
Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.
Quote:
Originally posted by looklook
Beware of finer prints when you are getting mortgage at such a low interest , you might be not been able to shift after 5 years or pay a huge penalty to which equals to your early gains !!
cheers
Very valid point...well said. Thanks for the insight
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SS
Reiki Grand Master
P-1 is not exceptionally low to get worried about bank clauses..
P-1 was given for large mortgages and for ppl with extraordinary credit history before the interest collapsed , now the variable rates have returned back to what it was before..
Variable usually has a 3 months interest as penalty, dont know of any financial institution that does variable differently..
But yes it is wise to check before signing..
Hi friends,
I am being offered p-.85 , by TD bank.
Please share your experiences , on what better options are there in market,
I am interested in getting mortgage renewed for relatively smaller amortisation (10-12 yrs).
Also please state the standard charges associated with renewal of mortgages.
Do they also recover the home assessment fees from us?, how much is it normally?
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mor
Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.
The rate that is being offered to you (-.85) is the best as of today. Secondly, even if you go on amort. period of 30 years...it doesn't cost you anything extra to pay it back in 6 years. You can always pay back 15 % extra every year of your principal. It is better to have max amort..in case u may require it . Because to increase the amort period, u have to take approval again...so better to have full amort from beginning.
The appraisal fee is $250 and it is not charged at the time of renewal. If you are re-financing and the price has to be verified with the market than only it is made a requirement.
There is no other hidden charges for renewal of mortgages.
Please feel free to PM me for any other info on this
