Quote:
Originally Posted by Liquid_o2
Thanks guys. I brought up variable, but it didn't really seem to be considered. Penalty for fixed mortgage at First National is only 3 months interest - which is why he is recommending it.
I don't think it is bad, but my gut is telling me that I may be getting rushed for a commission rather than what is in my best interest long term.
I will definitely look around some more and even contact TD myself to see what they are willing to do for me if I stick with them.
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Cause that's open fixed which is usually 3 months interest penalty. Closed fix would be the killer IRD OR 3 months penalty whichever is greater
And yeah if he's really pushy on it, that lender is probably giving him the biggest commission out of all the other ones.
I'm always curious what commission these brokers get/charge lenders. I've been told before that it gets tacked onto the borrowers mortgage but I don't know how true that is. Something for me to ask around and find out I guess