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11-24-2020, 10:39 PM
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#16826 | I subscribe to Revscene
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Originally Posted by m4k4v4li a lot of banks are offering cash incentives to offset the penalties though
I only have 2 years left before renewal, is it worth it to re-finance ? | depends on your IRD and penalty that comes from it.
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11-25-2020, 08:11 PM
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#16827 | Old School RS
Join Date: May 2004 Location: Port Moody
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Originally Posted by m4k4v4li a lot of banks are offering cash incentives to offset the penalties though
I only have 2 years left before renewal, is it worth it to re-finance ? | It'll be different for every person. You have to do the math using your penalty, your rates, incentives offered, etc.
-Mark
__________________ I'm old now - boring street cars and sweet race cars. |
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11-25-2020, 08:49 PM
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#16828 | RS.net, helping ugly ppl have sex since 2001
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My fee is 12k. I’m working on renewing mine. With my rate of 3.04 and going to 1.74 I come out a little ahead.
Current plan is to pay of 20% of the mortgage before year end, then beg, borrow steal another 20% early January to knock that fee way down. Refinance and get all that money back. Works for me because the banks gave me an absolutely stupid line of credit over the summer which I keep on hand.
All this hassle and I come out way ahead. Worth it? That’s up to you. Lol.
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11-26-2020, 12:17 AM
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#16829 | Captain Happy Bubble is my Homeboy
Join Date: Jul 2009 Location: Vancouver, BC
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Originally Posted by hotjoint 1.49% 5 year fixed, non insured through a monoline (private) lender. Had to put 25% down on our $600,000 townhouse to get it though. I would never go with a big bank, they charge way too much if you have to break your mortgage for any reason and screw you when it comes times for renewals also majority of them have bonafide sales clauses in the policies as well. I give props to people that go with the big banks because you're throwing away money IMO when you can get a much lower rate through a private lender with way more options (prepayments, renewals, breaking the mortage, refinancing etc..)
I'm seeing 1.39% 5 year fixed being offered through the same lender now https://forums.redflagdeals.com/offi...thread-351105/
The brokers here on redflagdeals get you the lowest rates possible. They post replies and updates daily and are very easy to reach via PM. | I went with a broker off that thread as well. They were able to beat the rates I was getting from brokers here. Doing it all virtually was totally fine and I would do it again. In Sept, I was offered 5 years at prime - 0.85 which is what I took.
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11-26-2020, 12:14 PM
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#16830 | Rs has made me the man i am today!
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1.64-1.69% five year fixed or 1.65% five year variable. The fixed comes with $1000 cash back and variable comes with $3000 cash back
What do you guys think?
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11-26-2020, 12:35 PM
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#16831 | Orgasm Donor & Alatar owned my ass twice!
Join Date: Aug 2007 Location: Paradise, BC
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| Quote:
Originally Posted by Doubl3_H 1.64-1.69% five year fixed or 1.65% five year variable. The fixed comes with $1000 cash back and variable comes with $3000 cash back
What do you guys think? | I'd go for the variable + $3k cash back.
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11-26-2020, 12:39 PM
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#16832 | Pull Out Towing. Women rescued for free.
Join Date: Mar 2002 Location: Hongcouver
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Originally Posted by Doubl3_H 1.64-1.69% five year fixed or 1.65% five year variable. The fixed comes with $1000 cash back and variable comes with $3000 cash back
What do you guys think? | Do you get the option of locking in the variable rate if the rates start going up?
How big of a mortgage will you be borrowing?
__________________ Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off. Originally posted by The7even SumAznGuy > Billboa Originally posted by 1990TSI SumAznGuy> Internet > tinytrix Quote:
Originally Posted by tofu1413 and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all. | (11-0-0) Buy/Sell rating Christine Shitvic Pull Out Towing |
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11-26-2020, 12:50 PM
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#16833 | 14 dolla balla aint got nothing on me!
Join Date: Sep 2005 Location: Vancouver
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Originally Posted by headhunt3r I went with a broker off that thread as well. They were able to beat the rates I was getting from brokers here. Doing it all virtually was totally fine and I would do it again. In Sept, I was offered 5 years at prime - 0.85 which is what I took. | How do you go by contacting the private lenders on RFD?
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11-26-2020, 12:55 PM
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#16834 | private modder
Join Date: Feb 2002 Location: North Shore
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Are these rates being posted here (1.6 - 1.7% 5 yr fixed) based on 20% down and no insurance?
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11-26-2020, 01:16 PM
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#16835 | in the butt
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Originally Posted by vash13 How do you go by contacting the private lenders on RFD? | Press the message button?
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11-26-2020, 02:16 PM
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#16836 | Rs has made me the man i am today!
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Originally Posted by SumAznGuy Do you get the option of locking in the variable rate if the rates start going up?
How big of a mortgage will you be borrowing? | Haven't been discussed yet, got those numbers from the RFD forum.
Pm me if you want know more
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11-26-2020, 02:29 PM
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#16837 | Pull Out Towing. Women rescued for free.
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Originally Posted by Doubl3_H Haven't been discussed yet, got those numbers from the RFD forum.
Pm me if you want know more | It's ok, it's just something for you to consider.
But basically, look at your risk level and how much you plan on borrowing.
For example, the difference of $2000 cash back from Fixed and variable.
Over 25 years, that is very little but people see that first and fixate on it so it's really moot.
The difference is over the next 5 years, can you lock in the variable rate to a locked rate if the rates start going up after 2022/2023.
At what interest rate would it become unaffordable for you.
Currently, I don't expect to see interest rates climb until the pandemic is over but there isn't enough inflation that warrants super high interest rates.
Lastly, if you are borrowing a high amount, then the change in interest rates make a bigger difference. If the amount you borrow is low, then even a variable rate jumping to 2.0% isn't going to make you broke.
Hope this makes sense.
__________________ Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off. Originally posted by The7even SumAznGuy > Billboa Originally posted by 1990TSI SumAznGuy> Internet > tinytrix Quote:
Originally Posted by tofu1413 and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all. | (11-0-0) Buy/Sell rating Christine Shitvic Pull Out Towing |
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11-27-2020, 01:03 PM
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#16838 | i like gifs
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Friend just forwarded me a CIBC Black Friday special mortgage rate (lol)
4 years fixed @ 1.49% (Nov 27 - Dec 24)
I'll see if I can get more info and report back.
[edit] https://forums.redflagdeals.com/cibc...-1-49-2423776/
Deal is on until Xmas eve, so if you're looking to lock in the rate then you can ask your mortgage broker to have it approved by Dec 24th to give you a little bit of extra buffer time.
Last edited by Ch28; 12-03-2020 at 09:10 AM.
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11-27-2020, 03:51 PM
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#16839 | HELP ME PLS!!!
Join Date: Nov 2005 Location: vancouver
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TD was offering me 4 years fixed @1.64% back in september.
whats everyone take on 4years vs 5 year fixed term?
Last edited by lilaznviper; 11-27-2020 at 03:58 PM.
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11-30-2020, 09:48 PM
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#16840 | RS has made me the bitter person i am today!
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Heard rates dropped to 1.49% today.
In addition, does anyone have any good insight on the older Joyce condo units along Vanness Ave and Crowley Dr? Looking at some units in the upcoming weeks.
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Last edited by Gerbs; 11-30-2020 at 09:57 PM.
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11-30-2020, 10:17 PM
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#16841 | Pull Out Towing. Women rescued for free.
Join Date: Mar 2002 Location: Hongcouver
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Originally Posted by Gerbs Heard rates dropped to 1.49% today.
In addition, does anyone have any good insight on the older Joyce condo units along Vanness Ave and Crowley Dr? Looking at some units in the upcoming weeks. | Which buildings? I lived in that area for 4 years and looked at a bunch before buying.
__________________ Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off. Originally posted by The7even SumAznGuy > Billboa Originally posted by 1990TSI SumAznGuy> Internet > tinytrix Quote:
Originally Posted by tofu1413 and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all. | (11-0-0) Buy/Sell rating Christine Shitvic Pull Out Towing |
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11-30-2020, 10:50 PM
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#16842 | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
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Don't buy the ones right in front of the sky train tracks, sound travels upwards. Or anything not directly facing is ok. The ones closer to the tracks and station were older and more ghetto
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11-30-2020, 10:51 PM
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#16843 | RS has made me the bitter person i am today!
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O and you get complementary vis daily on Kingsway too got out of that hood
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12-01-2020, 09:44 AM
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#16844 | My homepage has been set to RS
Join Date: Mar 2004 Location: East Van
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When we were looking 3 years ago, our real estate agent didn't even want to take us into the Joyce area haha.
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12-01-2020, 10:01 AM
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#16845 | I have named my kids VIC and VLS
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I’ve been into almost all those buildings and I’d say the quality, type of people living in them, and the layouts are all over the map.
Parking is obviously a nightmare for visitors etc. However you have quite a bit in terms of restaurants and amenities within a short walk. Also decent parks and outdoor spaces.
It seems like almost all those buildings have the typical “mainlander” warnings however. Ie. signs posts all over the place about dogs pissing in elevators and common areas, people not sorting recycling etc. So if you’re looking at units I recommend going to common areas, parkades, storage areas, etc. And see what the state of these are and if there are warnings posted everywhere about people’s behaviour
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12-01-2020, 10:25 AM
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#16846 | Rs has made me the man i am today!
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| B.C. strata insurers to end 'best terms pricing' scheme by Jan. 1
So for those people who got royally screwed over from insurance rates jumping up 200%+ in some cases and resulting in their monthly fees doubling does that mean next year they'll see a major drop to what it was prior or possibly even lower since the best term pricing has been going on for X many years?
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12-01-2020, 10:37 AM
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#16847 | Orgasm Donor & Alatar owned my ass twice!
Join Date: Aug 2007 Location: Paradise, BC
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Originally Posted by stewie B.C. strata insurers to end 'best terms pricing' scheme by Jan. 1
So for those people who got royally screwed over from insurance rates jumping up 200%+ in some cases and resulting in their monthly fees doubling does that mean next year they'll see a major drop to what it was prior or possibly even lower since the best term pricing has been going on for X many years? | WTF?! Is that Best Terms Pricing basically a scam then? The broker charges the customer (the strata corp) the price of the highest bid, and then goes off to purchase something else!
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12-01-2020, 10:57 AM
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#16848 | Even when im right, revscene.net is still right!
Join Date: Jan 2005 Location: Vancouver
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Currently debating between 1.49% fixed over 4 years or 1.69% fixed over 5 years- both from CIBC w/ cashback (refinancing mortgage and transferring from HSBC to CIBC).
I calculated the break-even point for year 4 - 5 (excluding cash back, penalty, etc. so strictly mortgage) at 2.49%. But the mortgage rate at year 4 (renewal rate if I go w/ 4 year mortgage) could be vastly different (lower) than my mortgage rate at year 5.
Thoughts?
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12-01-2020, 11:47 AM
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#16849 | SFICC-03*
Join Date: Mar 2002 Location: richmond
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Originally Posted by Gerbs Heard rates dropped to 1.49% today.
In addition, does anyone have any good insight on the older Joyce condo units along Vanness Ave and Crowley Dr? Looking at some units in the upcoming weeks. | i lived at the centro at 3438 vanness ave up until last year.
its a super convenient spot because it's close to the skytrain and it's right on a bike path, and it's near enough to kingsway and boundary that going places is pretty easy. that's about all i liked about it though.
if you are talking about the same building or any of the buildings sharing the alleyway for the parkade, then i'd also say that the alleyway is a bit problematic since people constantly do pickups and dropoffs for the bus/skytrain there even though it's a no stopping zone.
overall it's a safe area but it's overcongested, especially now with more towers coming up and the recent addition of the bus loop. also theres no good walkable grocery.. just that one filipino market that is fine if all you need is like a bunch of cilantro or a can of tomatoes.
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12-01-2020, 11:58 AM
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#16850 | I have named my kids VIC and VLS
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Safeway is like a 10-15 minute walk from any of those buildings no?
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