Is 8 months too early to get a rate hold for my mortgage renewal? I think the standard is 60-120 days max.
I would like to break my mortgage 7-year term, at year #5, due in Feb 2013. (Mortgage Rate is 5.22%, HELOC rate is 3.16%)
The penalty fee will only be 3 month interest at that time, instead of IRD.
I will be looking for a portable & assumable mortgage, and HELOC ~of $30K
We got our house built in 2008 for $455K. It was appraised by our lender (National Bank) for $435K.
This year's municipal appraisal for our house is $405K.
On Feb. 2013, we will owe $263K on our house, and $0K on our HELOC.
Im thinking of dealing with Multi-Pret, as they are one of the more popular mortgage broker here in Quebec.
Also considering "Dominion Lending Centre", but they have opened their offices in Quebec, only a year ago.
Is RateSupermarket.ca the ideal place to find lenders?
As of today, Dominion Lending Centre offers 2.90% on 5 year variable term in Quebec.
True North Mortgage offers 3.08% on 5 year closed term.