mimilim

First of all
Prime is 3%
so prime -.05 means you are paying 2.95%..
not 2.35%

The rates that you are getting from your bank are bad.
You can get a fixed 4 year for 2.99%, or 5 year for 3.19%
5 year variable right now is about P-0.2, so 2.8%.

Talk to a broker.

mimilim

What are you talking about, man? My friend in Seattle bought a place down there. Not only was the fo ...
Lik 發表於 2011-10-29 09:25

    Lik:

I have never seen or heard a rate lower than 3% in the US, let alone for 25-30 year amortization.

I call BS on your friend unless you can provide more details. (which bank)

mimilim

I know of the industry but I am not a broker.  You can ask questions and I will try to answer them.

If you need a referral I can PM the broker I dealt with.

mimilim

@@
畦~ 原來 mortgage rates 依然係這麼平宜啊﹖

我係你呢就一定做 5 年 fixed closed。。。但係當然還要 ...
匿名 發表於 2011-11-16 13:47

fixed rate is at a historic low

mimilim

When I break a fixed closed mortgage, the usually penalty is 3 month interest or IRD.

If current in ...
Look4chrisng 發表於 2011-11-16 16:28

Yea they take higher of.  I think IRD is calcuated on the POST RATE at that time, not the actual mortgage rate you got for the mortgage.
By the way, with the variable discount rate so low right now, fix is looking very good if you know for sure you wont move or sell during the mortgage term.

mimilim

can you explain more details about this "有無打算比 10% lump sum"?

thanks
librazhy 發表於 2011-11-16 17:01

When you have a mortgage, many banks will allow you to do a prepayment annualy without penalty. Can range from 10-25% of the initial mortgage amount.

mimilim

回復 20# Look4chrisng


Post rate of when you got the mortgage and when you terminate.  The rate now is 5.29 (AKA Qualifying Rate). So even say if you get a mortgage for 3.29 your post rate is still 5.29