请教高人：CIBC Mortgage Cash Back Offer是不是很好？

caifan

刚刚打电话给CIBC问 cash back offer的详情，大致如下：

9 W/ T& F5 B4 `  Y/ m9 U/ K1。三年固定利率3.3%, cash back 2%;
6 @6 j2 h8 b# z2 b' S$ d0 H% M2 T2。五年固定利率3.99%, cash back 2%.
" b6 K! A3 |  ]- u! `3。按照银行网站，五年固定利率5.39%, cash back 5%

6 o% I8 P/ E+ v- Z7 A( F另，做mortgage transfer, 而不是refinance, 银行可以支付lawyer's fee。
感觉选择3最值。各位高人有何高见？

caifan

& w- y7 M1 Y+ u
& ^- y+ s; l& d: y9 j9 E  Ccibc的人好像是这么给我推算的：
% G! t& P. Z+ T& I
2%现金返还三年期，相当于每年2/3=0.67%的折扣，3.3-0.67=实际利率2.63%
8 Y2 R' J: u# K2 d+ W& a+ D2 Z2%现金返还五年期，相当于每年2/5=0.4%的折扣，3.99-0.4=实际利率3.59%

按他的算法，5%现金返还五年期，相当于每年5/5=1%的折扣，5.39-1=实际利率4.39%，不是特别好。
6 t" h; ]( Q5 E2 k
+ ~1 _# d# @8 Y  x我觉得他的算法不精确，好像是假定你会把cash back花掉。如果把cash back马上用于还贷，整个的贷款额就降低了，所以cash back越高越好。

Pierce.CIBC

Let's say a customer wants to transfer $400,000 mortgage to CIBC. He has 2 options.
1.   3-year closed mortage with 3.3% and 3% cash back.
2.   5-year closed mortgage with posted rate 5.39% and 5% cash back
2 z3 d: W: c5 R1 P! G) T) q
Option 1. After 3% cash back, your mortgage amount will become $400,000*0.97=$388,000 with 3.3% interest
$ c5 Z3 w, m1 O/ j) iIf you want to payoff your mortgage in 25 years. Monthly PMT $1896.44. The remaining balance is $356,393 after 3 years.

) M; o9 o  V4 q1 WOption 2. After  5% cash back, your mortgage amount will become
; U0 W# y0 h' T) }- ?$400,000*0.95=$380,000 with 5.39% interest.
6 G6 N0 o0 K# G3 m* a: N1 H$ [If you want to payoff your mortagge in 25years. Monthly PMT 2295.21  The remaining balance will be $356,351.50 after 3 years

Basically, for the above options, after 3 years, the mortgage remaining balance is similiar.
" b1 }7 U0 S: E. r0 B4 K# w) tIf you choose the 2% cash back with 3.3%, every month you save about $398.77 monthly payment for 3 years.  Total roughly saving ($398.77*12*3=$14,355)

诺言

能确认一下把mortgage从别的银行转到CIBC，CIBC负担全部律师的费用吗？

caifan

3# Pierce.CIBC
谢谢回复！我后来用网上的贷款计算器算了一下，五年选择5%的返还和5.39% 的posted rate确实不划算，主要因为5.39实在太高了。

caifan

用网上的贷款计算器计算，五年固定利率3.99%, cash back 2%比起现在单纯的五年固定利率3.59%要划算一些。

Rapala

问一个问题，如果是投资房，cashback算收入要交税吗？

caifan

银行网站说：
The Cash back amount is tax free as long as the funds are not used to earn income from a business or property.

Pierce.CIBC

4# 诺言
7 y7 o' `2 z& z$ V1 Y- d- I
2 ?- R; c( g- ?There is no fee/cost to transfer your mortgage

tyyjohn

任何时间都可以转吗？  还是要等5年满了才能转？

诺言

4# 诺言

8 E% o8 ^; I+ h: x+ jThere is no fee/cost to transfer your mortgage
Pierce.CIBC 发表于 2010-3-4 14:26

但是Title上面的mortgagee不是需要改吗？这个过程不需要律师吗？

Pierce.CIBC

CIBC got free AD from Globe&Mail
7 |+ h* ]& L3 ^
. F$ o  ]: X  P& ^https://secure.globeadvisor.com/ ... /cnw/20100305/C7106

caifan

据我的重新计算，五年固定3.99% 加上2 % 现金返还大致相当于3.50%，这是相当不错的了。
3 p% }& i: R6 r) C
& q1 R( N& P) P居然有一位mortgage broker能给这个rate，但是prepayment是5%，不是我想要的 10%。

诺言

“In addition, there are no transfer-in fees for clients to move their mortgage to CIBC.”
; j; E: `$ ~/ S* `这句话并没有解答new mortgage是否需要律师involve去land title office注册的问题啊？

caifan

“In addition, there are no transfer-in fees for clients to move their mortgage to CIBC.”
这句话并没有解答new mortgage是否需要律师involve去land title office注册的问题啊？
诺言 发表于 2010-3-11 11:41

这个我也问清楚了。我的mortgage broker读了fine print，说你想让银行代付律师和登记费，就得放弃现金返还，当然没有人会那样做。为此他可以另外给我一些现金返还，足够支付相关费用。他说这部分现金返还是他本人用自己积累的点数支付的，与cibc的offer无关。

诺言

这个我也问清楚了。我的mortgage broker读了fine print，说你想让银行代付律师和登记费，就得放弃现金返还，当然没有人会那样做。为此他可以另外给我一些现金返还，足够支付相关费用。他说这部分现金返还是他本人用 ...
' p. E. V+ _4 j+ ?caifan 发表于 2010-3-11 11:59

: s# u; S0 k# @* v5 D: p9 P1 }1 u0 v是实实在在的现金返还吗？我看一直没正面回答，感觉有点问题。

Pierce.CIBC

14# 诺言
0 E6 M$ U6 [  x/ u
0 Z4 i/ @1 v, X9 h3 v1 ]$ H
% q' s4 ^+ o5 y! @当您把mortgage转过来，cibc会给您mortgage注册，不需要花钱。

Pierce.CIBC

16# 诺言


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