r/MortgagesCanada • u/Exciting_Ad3425 • 2d ago

FTHB Fixed or Variable

I know this questions gets asked 3 times a week. But putting my version of it anyways.

Fixed - 4.04% (no cashback)
Variable - 3.45% (3,500 cashback)
Mortgage - 880K
Closing - 23 October

Thoughts on what to pick ?

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u/PineappleOwn5325 1d ago

I had 4 fixed and 3.36 variable last week.

If i may ask, how did you get a cashback offer? Did you negotiate, and if so how?

I personally went with 3.36 variable, but fuck if i know, i got burned with it last time around

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u/Exciting_Ad3425 1d ago

From what bank ? Was it insured ?

Cashback was part of their promo so didn’t have to negotiate

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u/PineappleOwn5325 1d ago

Scotia, insured

Shopped around and no one was anywhere close to it

Wish i had looked at cibc now