This is a major bank mortgage.
Rate based on a $300,000 loan amount. Lower rates are available for larger mortgages and vice versa.
Rate shown is an effective rate including cash back. The contract rate, upon which the payment is based, is 1.79%. You then receive an upfront cash rebate equalling the 4-year interest cost savings of a 0.06% additional rate discount, for a 1.73% effective rate. Payment shown is an effective payment for comparison purposes. The actual payment is very slightly more. Note that using the cash rebate to pay down your mortgage provides an immediate benefit by paying down your mortgage faster. Cash rebates are paid by intelliMortgage Inc. on or before the 19th day of the month following your closing date.
The APR equals the rate shown, assuming a sample transfer transaction with no legal and appraisal fees. Cash rebates are paid to you by intelliMortgage on or before the 19th day following your month of closing. Collateral registration permits refinancing with no legal fees, on approved credit. No transfers at maturity. Allow 30 days to process transfers. Includes flexible skip-a-payment and payment vacation features. OAC. Visit intellimortgage.com to build your own custom mortgage today!