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%;
# S3 V5 F& u" Y% q2。五年固定利率3.99%, cash back 2%.
5 Q- V$ f' k( G* u8 q( I9 `3。按照银行网站，五年固定利率5.39%, cash back 5%

另，做mortgage transfer, 而不是refinance, 银行可以支付lawyer's fee。
3 W! N# r5 {2 U) ?& n! e感觉选择3最值。各位高人有何高见？

caifan

% U* D& H+ o# P* P5 q, e
/ t- m8 Q3 I9 C) wcibc的人好像是这么给我推算的：

- x2 {$ m4 c% S. W( _5 \* l2 m2%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%
2%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%
0 S0 o0 r5 v0 y1 W/ [  P! o) `" W
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。

0 P" s+ S# n' L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 $400,000 mortgage to CIBC. He has 2 options.
1 I( H3 W7 U2 {+ ?- ^$ a" B1.   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

Option 1. After 3% cash back, your mortgage amount will become $400,000*0.97=$388,000 with 3.3% interest
- F$ f7 c6 H* t2 @: X' n3 jIf you want to payoff your mortgage in 25 years. Monthly PMT $1896.44. The remaining balance is $356,393 after 3 years.
. v. B! X& k3 S5 d3 L  }4 z8 G
Option 2. After  5% cash back, your mortgage amount will become
  `* S8 e0 O. V; M5 W$400,000*0.95=$380,000 with 5.39% interest.
) m" U* ^! e7 N' w3 O% g5 k: OIf you want to payoff your mortagge in 25years. Monthly PMT 2295.21  The remaining balance will be $356,351.50 after 3 years
& A1 @" M- v# B0 p( F* W& D' n# i! [
Basically, for the above options, after 3 years, the mortgage remaining balance is similiar.
If 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
% v. ]& J" r0 R$ r# E' f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
. Q7 j4 \! g$ j' h/ g; y% t
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
/ Z$ d$ G, u. j4 D2 e( M( q6 i" y
There 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

1 s% f0 b* E  G/ H# Y* B, dhttps://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。
. r0 G( W' ~0 K8 j% D
) N! [$ a5 ~7 m. Y) t+ s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.”
3 Z1 }( z; k7 ?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.”
( V+ F, t, Q3 Y4 a  B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 ...
: i9 c: x( @! j& A% m' Vcaifan 发表于 2010-3-11 11:59

6 O1 Z( e) Z0 x# t& _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


7 z6 l; A& `3 w) N当您把mortgage转过来，cibc会给您mortgage注册，不需要花钱。

Pierce.CIBC

16# 诺言

5 X7 `8 Q7 |2 f# [! ^
是free money,直接打到您的银行帐号。