Fixed Mortgage or Variable Mortgage
We are about to close on our new construction home, and we have the following rates and don’t quite know which one to go ahead with.
House -714k
RbC- 20% down fixed 3 year rate at 3.99%.
Scotia-3.89% fixed for 15% down and 4.11% fixed for 20% down. Variable rate of 3.4% for 15% down and 3.65 for 20% down.
MCAN-3.5% variable - 10% down deposit.
CIbc-3.89% fixed - 15% down deposit.
Family income is 200k at the moment but will exponentially increase in 2 years time once partner is done with Residency training
u/CourageMean2332 — 10 days ago