Log In
Register
Topic RSS
Facebook
Twitter
Email this5:22 pm
September 24, 2018
Offline
Has anyone been able to get any super low rates for a LOC ?
Best I could get was 2.9% from TD for a home fully paid for. They acknowledged that high ratio mortgages have lower rates, but that was the lowest they would go.
Tangerine wouldn't confirm the 2.5% until I commited to doing it. However the fees to set up were variable and could be over $1000.
6:49 pm
April 15, 2015
Offline
I was offered a LOC last year from Tang.The present rate is 2.45%.It didn't cost me a cent .I had a LOC with CIBC tied to my home.I cancelled it as this LOC is not secured.Many times my savings account is minimal,waiting for a descent promo rate.
6:52 pm
October 21, 2013
Offline
...and then, if you sell the house or decide you don't need the LOC any more, there are more fees to discharge the lien.
Still, it's better than a reverse mortgage.
However, I've never had one so don't know about rates.
9:18 pm
September 24, 2018
Offline
I have had one with TD since 2000... works out well with my stock trading and other investments....
yep, tangerine wanted around $400 for LOC plus appx 600-900 for lawyer... so no way I was switching for 0.4%...
Just saw HSBC offer 0.99% for high ratio mortgage... damn !!!
Please write your comments in the forum.