North Dakota Nesties
Dear Community,

Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.

If you have questions about this, please email help@theknot.com.

Thank you.

Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.

Re: Canadian Ladies

  • ok, as the (now ex) banker, I can give you the 411.

    The banks offer the option of the cash-back, as an option instead of a rate discount. How that works, is that they give you a certain amount, and in return you cannot negotiate the rate, or if the amount is less, you can negotiate a little.

    This came in as an option for newcomers, and/or new couples.

    The catch: If you decide to sell / payout your mortgage / switch banks, you have to pay a penalty plus a pro-rated portion of your cash-back.

    I am a bigger fan of getting the rate discount - because it translates to less dollars out of my pocket at the end of the day.

    Does this explain it? 


    ?
  • Yep, thank you. Car dealerships do this in the US.
  • Just because I'm curious, are Canadian mortgage rates similar to US?
  • You can kind of do this with US mortgages as well.  You can buy 'points' to get a lower rate.
  • imagesiba1119:
    You can kind of do this with US mortgages as well.  You can buy 'points' to get a lower rate.
    True, I didn't of that. But I've never heard of it in the reverse.
  • Those girls were pretty rude. I understand, as an American, thinking that too good to be be true, but honestly... then to again react negatively to her when she proved herself right. Good grief. lol.
  • imageFutureMrs.McC:
    Just because I'm curious, are Canadian mortgage rates similar to US?

    Usually the answer to that is yes.

    But now with the new Economy we are a bit higher. 


    ?
  • Ugh- my mortgage is up for renewal this October..don't remind me...I need to lock in at a good rate before the rise again..
Sign In or Register to comment.
Choose Another Board
Search Boards