Can Half a Percent Interest Really be THAT Big of a Deal???

The best way to show this is through an example. We'll say you had Broker Kyle offering you a rate of 5.5% and your bank offering you a rate of 6%. In this example, Your mortgage is for $200,000 and has 25 years of amortization left on it. If you went with your bank, you'd be paying a total over $186,500 in interest on the mortgage (across it's 25 year life). If you went with Broker Kyle, you'd be paying just under $168,500 in interest payments. That's a savings of well over $18,000! Can you imagine how nice a vacation you could go on with that money? Or upgrading your vehicleÉdoing reno's to your house...paying off some debt...the possibilities are endless.

Now, this example is only showing a half percent interest rate change. Most posted rates for banks are over 1.5% higher than our best rates! The difference only multiplies.

Can a half percent make that big a deal? We'll leave it at one word this time...YES!


Apply now for a Mortgage and Save!

Back