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Old 04-08-2014, 01:02 PM   #21
MillerTime GFG
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Hi MG,

I can do a pre-approval on a 5 year term @ 3.09% fixed, or variable at prime - 0.5 (2.50% currently). Once the deal goes live (you've found a home), you would get the lesser of the pre-approved rate or whatever their best rate is once the deal is live.

On fully live deals, I can do as low as 2.84%, or prime minus 0.65%. Pre-approvals do not mean you have to stay with that lender once the deal goes live, but it does guarantee that rate up to 120 days.

Feel free to shoot me an email at gregmiller@mysmartcap.com if you'd like to set something up to get the process started. As you can see, rates are really low right now.

Thanks,
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Old 04-23-2014, 11:34 AM   #22
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nm

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Old 04-24-2014, 11:20 AM   #23
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Hi, what the going line of credit rate right now?
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Old 04-24-2014, 01:12 PM   #24
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You're generally looking at Prime plus a half for LOC's. Prime is currently at 3%, so they're sitting at 3.5%. If by chance you're an Engineer, you could get it at prime with one of my lenders.
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Old 05-02-2014, 09:27 AM   #25
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Tightening CMHC regulations a trend towards privatization?

http://business.financialpost.com/20...privatization/

Thoughts?
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Old 05-07-2014, 01:28 PM   #26
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Old 05-07-2014, 04:43 PM   #27
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Old 05-22-2014, 03:01 PM   #28
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Old 05-23-2014, 10:19 AM   #29
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Right after I posted the above yesterday I received an email for a 5 year prime - 0.60% (2.40%)!

PM/email for questions or inquiries.

Greg
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Old 05-28-2014, 11:38 AM   #30
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With rates where they are today, you may want to consider getting an evaluation to see if it makes sense to refinance into a lower rate now. Essentially you'd be 'topping up' your term and locking in a rate for another 5 years either in a variable or a fixed rate, which as you'll see in previous posts are extremely low.

I'm happy to do a free evaluation for anyone. Send me a PM or email; information I'll need:
- Current value of home (estimated)
- Mortgage balance remaining
- Current rate (fixed/variable %) and your renewal date
- Current lender/bank

Also, if anyone wants to sit down to go over some options, all we'd need is 15-20 minutes either at my office or a neutral site.

Greg
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Old 06-12-2014, 12:37 PM   #31
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I've had a few people ask me about a 10 year fixed mortgage lately. If anyone's curious, the best 10 year rate I have right now is at 4.34%.

While not for everyone, if you're comfortable with your payment at that rate, it's not necessarily a bad option. The ultimate safe play! Keep in mind that utilizing prepayment privileges can reduce your effective annual interest rate as well.

Current 5 year rates at 2.97% for fixed and 2.40% for variable (prime - 0.60%). I can actually do better on both of those, but they come with some restrictions. *Ask for details*
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Old 06-18-2014, 03:41 PM   #32
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I'm sure most people are aware that mortgage restrictions are becoming, well...more restrictive. The 'A' market (ie. the ones with the best rates) is constantly shrinking. The good news is that lenders are reacting, as more and more of them are expanding their 'B' markets.

Just hearing 'B lender' scares a lot of people off, but there are actually some great options out there, with rates that are still historically low. You can get a mortgage still in the upper 3% area with a B lender.

So what does a B client look like?
- Business for self:
- Writing down your income for tax purposes
- Newly self employed (ie. don't have 2 year's provable income, etc.)
- Credit issues/low beacon score
- Large purchase price, unusual property type

There's a lot of different situations and big banks don't have options for the majority of them, or at all. Feel free to send me a message if you have any questions or if you think you fit in any of the above scenarios. Generally my plan is to place clients in the shortest term necessary on the B side to transition into the A side (1 or 2 year terms). The B market is where things are going with the restrictions becoming tighter and tighter.

Greg

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Old 07-08-2014, 12:45 PM   #33
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I have a couple lenders offering a "free refinance program". These lenders will pay for legal and appraisal, which will generally cost in the $800-$1000 range on a refinance. Of course, they don't pay for the penalty associated with breaking your current mortgage, but with the way rates are right now, it can still be well worth it.

I'd be happy to sit down with anyone and provide a no-obligation assessment of whether or not it makes sense to refinance.

Greg
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Old 07-08-2014, 02:31 PM   #34
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Just wanted to give a thumbs up for Greg who helped us with our Construction Mortgage recently after dealing with some shoddy mortgage specialists at ATB. Greg definitely puts the time and effort in answering all of our questions and concerns. I would be happy to recommend him to all my friends and family for future mortgage/financing requirements without hesitation! Look forward to working with him on future renewals
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Old 07-08-2014, 03:08 PM   #35
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Thanks Fuji, it was great working with you! Always happy to outperform one of the 'big banks' along the way too.
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Old 07-16-2014, 01:32 PM   #36
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Rate special gone.
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Old 07-17-2014, 09:20 AM   #37
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Any thoughts on the discount on prime for a variable mortgage at the moment?
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Old 07-17-2014, 09:44 AM   #38
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Quote:
Originally Posted by GP_Matt View Post
Any thoughts on the discount on prime for a variable mortgage at the moment?
Variable rates are very low right now and I'm still a huge believer that there's a lot of value in them, even with most thinking rates are due to go up in mid-2016. Right now I can do a prime - 0.65% (2.35%).

Have you been a fixed guy generally?
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Old 07-17-2014, 09:55 AM   #39
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Quote:
Originally Posted by MillerTime GFG View Post
Variable rates are very low right now and I'm still a huge believer that there's a lot of value in them, even with most thinking rates are due to go up in mid-2016. Right now I can do a prime - 0.65% (2.35%).

Have you been a fixed guy generally?
Aside from my first five year term, I have always had variable and been happy with it.

I have a prime minus 0.7 right now that I am happy with and it is good for another 15 months or so. However I am moving cities and in typical fashion I will probably spend more on the new house.

Do you know if I am stuck dealing with my current bank for the mortgage and trying for some sort of blend and enlarge/extend deal on the new mortgage?

The penalty to break is 3 months interest which isn't the end of the world but I would prefer to avoid it of course.
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Old 07-17-2014, 10:16 AM   #40
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Quote:
Originally Posted by GP_Matt View Post
Aside from my first five year term, I have always had variable and been happy with it.

I have a prime minus 0.7 right now that I am happy with and it is good for another 15 months or so. However I am moving cities and in typical fashion I will probably spend more on the new house.

Do you know if I am stuck dealing with my current bank for the mortgage and trying for some sort of blend and enlarge/extend deal on the new mortgage?

The penalty to break is 3 months interest which isn't the end of the world but I would prefer to avoid it of course.
PM'd
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