Which deal to go with
The mortgage for my condo is up for renewal. I can either go with (current provider) RMG for a renewal at 3.45 for a 5yr variable or switch to TD for a 3 yr variable at 3.61 but with a $1600 cashback. My mortgage is $109,000.
The guy at rmg said I would be saving $4000 over the term going with them instead of TD even with the cashback. But I do not understand how. From my own calculations and asking Gemini I would be saving with the TD offer.
Could anyone provide some guidance.
Thanks
u/sausagezon — 6 days ago