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：

1。三年固定利率3.3%, cash back 2%;
$ f, T6 m$ Y% y7 |2。五年固定利率3.99%, cash back 2%.
; e7 D6 y' R8 S( r: H5 }3。按照银行网站，五年固定利率5.39%, cash back 5%

3 O5 a! V0 D- \  y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

- J8 u+ c" K7 R$ F" s. F$ p
cibc的人好像是这么给我推算的：

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%
$ I9 p/ |& K' }6 O2%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%
- B& S8 T) P" O  ^) r
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。

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.
( v) R4 D# M% S- H5 T7 C8 z  X# r4 N1.   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
! i7 {. w1 W! |* q( L. J" F
Option 1. After 3% cash back, your mortgage amount will become $400,000*0.97=$388,000 with 3.3% interest
  C$ i9 j: a8 g0 V: _) EIf you want to payoff your mortgage in 25 years. Monthly PMT $1896.44. The remaining balance is $356,393 after 3 years.

4 l' t7 I1 K. }' T! C4 G. s/ HOption 2. After  5% cash back, your mortgage amount will become
$400,000*0.95=$380,000 with 5.39% interest.
1 ^/ M, O: i- W7 l% hIf you want to payoff your mortagge in 25years. Monthly PMT 2295.21  The remaining balance will be $356,351.50 after 3 years
8 a" R* s7 z* e6 x
Basically, for the above options, after 3 years, the mortgage remaining balance is similiar.
9 |$ j( p% H1 `5 x0 [( y) SIf 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
) j2 [/ U4 m( a* s1 |2 x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：
/ M$ Y2 {4 G# m! B' S( {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

6 F" Q* l* M9 M. jThere 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
! _1 x" ?2 A) s. b
0 I) X1 F  v# ?7 y- JThere is no fee/cost to transfer your mortgage
+ ]0 i6 Y" N0 P1 }% XPierce.CIBC 发表于 2010-3-4 14:26

- S7 \# D5 _* H! \8 V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
! b/ \3 x  K5 b, d& X1 D3 C
+ _; i$ h6 e1 u! X+ |0 @. Q2 [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。

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.”
6 r0 E5 e- e2 k1 E6 O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？
& E  L& F8 ^( K5 ^- z0 f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 ...
caifan 发表于 2010-3-11 11:59

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
' |$ j; w% P$ o% o% h
3 t; i( ~# e1 E6 c7 ~4 U$ r
当您把mortgage转过来，cibc会给您mortgage注册，不需要花钱。

Pierce.CIBC

16# 诺言


是free money,直接打到您的银行帐号。