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Old 2011-04-15, 01:11 PM
MortgageGuy MortgageGuy is offline
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Default Long term rates

In general I would say that any long term rate hold(up to two years I am seeing) that is at a similiar rate as one being held for 4 months is a great deal. Add on cash back at that same rate and you should be happy as a pea in a pod. My only comment is that any cash back should be takin only in the very end. If you take it early or as a credit at the design center you have effectivley tied your self to the bank, and won't be able to change banks prior to closing(unless of course you give them their money back) if there are better rates available when you get to the 120 day mark. That is why T.D. loves Brick buck promotions and design center credits, it ties you down to them.
Dan

Quote:
Originally Posted by bigfootryan View Post
I've been offered the same type of thing through TD. 4.34% 5 year fixed (closed) with 1% cash back and we're planning on purchasing at the end of May and we'll be closing in August 2012. We filled out the paperwork with the TD rep, and the rate is guaranteed for up to 2 years.

Seemed legit to me... should I be concerned?
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