Mortgage Broker

[Chuck&Marisa]

Can anyone recommend a good mortgage broker. Seems the broker we had been working with is MIA. We made an appointment with another broker for tomorrow but I was wondering if anyone here could suggest someone before we go for our appointment. Thanks!

[sloaner123]

Go to BMO and see mortgage specialist Fil Viera-Lee. I just got a 3.65% fixed 5 year with full 20% pay down privileges for the term of the mortgage. It's time to lock in at these unprecidentedly low rates as prime will be 4.25% in 12-14 months and it can only go higher. A variable at prime minus half can be tempting but look up the prime rate in Canada for the last 15 years and you'll see a 3.65% mortgage will beat a prime minus half every year except during the recession we just exited (late 2008 to early 2010). But don't believe me because you should be doing this research yourself. Use the Bank of Canada website as a reference for doing your research and take a look at the inflation-control target versus the operational guide. In January inflation was at 1.9% and things have picked up greatly since then. When that 1.9% becomes a 2.0% prime rate goes up. Make an informed decision.

[K.C.]

BMO and RBC seem to be in super aggressive mode lately. Competition among Canadian banks ... it's a miracle! ... but read the fine print just to be safe. BMO doesn't use brokers.

I'd check out the brokers too but give BMO and RBC a try. They seem hungry to get market share. Remember you have to know how to negotiate with banks and getting numbers from a broker will make it much easier.

[fugee]

not to toot my own horn but i have great service and great rates...check them out below.


If you let me know when you close, purchase price and mortgage needed i can give you a quote

cheers,
mat

[fugee]

Actually here are some new updated rates as the one in my other post were outdated.

5 year - 3.45% for High ratio - 30 day close - 5%/5%
5 year - 3.50% for conventional closing within 30 days. 5%-5%
5 year - 3.54% high ratio - 30 days - 15%/15%
5 year - 3.59% for High ratio - 90 days - 15%-15%
5 year - 3.69% for 120day close (conventional/high ratio) 20%-25%

3 year variable - 1.75% for 60 day close
5 year variable - 1.75% for 120 days close

A few "no claw back cash back".
5 Year closes 120 days - 30 days
4.09% 1.60% cash back - 2%
3.99% 1.40% cash back - 1.60%
3.89% 0.80% cash back - 1.20%
3.79% 0.40% cash back - 0.80%

If you want to know more about a product please don't hesitate to drop me a line.

[Rupen]

Hi Sloaner,

Could you post the details of branch/ Contact No. of BMO where I can contact Fill Viera_Lee.

[Alex&Vanessa]

we went with Mathieu known as fugee on the forum and I highly recommend him top notch and seamless service

[fugee]

Thanks guys!

[sloaner123]

She is the mobile mortgage specialist for BMO in the Cambridge area. Her number is 519-497-3745.