Your True North Mortgage Rate Guarantee

It's pretty simple. If you find a better rate, we'll beat it — or give you $500.

We're obsessed with getting your best rate possible on your primary residence in Canada. How do we do that? With our unified, unbeatable service and volume discount to save you thousands (over $3000 on average).

True North Mortgage - Rate Guarantee

How your best-rate guarantee works:

  1. Apply for a True North Mortgage — fill out your easy online application, start an online chat, give us a call, or stop by one of our convenient store locations.
  2. Get Approved. We'll give you the best mortgage rate through our simple pre-approval process. You'll need to qualify for your rate as per federal stress-test guidelines.
  3. Shop Around. Take up to seven days to shop for a lower rate (for which you qualify) on a similar mortgage from any lender or broker in Canada.
  4. Save Money. If you find a lower qualifying rate on a similar* rate mortgage, we'll beat it or give you $500 - it's a no brainer!

* A similar rate mortgage must be for a primary home, same property, term, and loan amount, with the same or lower closing costs.

To receive your competitive rate adjustment, either email or deliver to True North Mortgage a copy of the competitor's Good Faith Estimate and documentation of the property, rate, term, loan amount and closing costs. Documentation must be dated as the same date of, or no more than seven days later than, the original True North Mortgage application. Good Faith Estimate or approvals and other documentation must be received by True North Mortgage within seven days of your original True North Mortgage application.

Try out our helpful Save & Compare calculator to see how our rates compare, and how your numbers may line up.

Our volume approach may save you thousands over the life of your mortgage. Get your best qualifying rate, through us.

Get your best rate, save a pile of cash.

Rate Guarantee program rules

At True North Mortgage, our whole purpose for living is to be able to offer you a better mortgage at your best-possible rate. In fact, we'll provide you with the best mortgage rate that you qualify for on a similar mortgage of any licensed lender, or pay you $500.

What does 'similar mortgage' mean? The mortgage must be for a primary home, term and mortgage loan amount with the same or lower closing costs. To receive a competitive mortgage rate adjustment, either email or deliver to True North Mortgage a copy of the competitor's Good Faith Estimate and documentation of the property, mortgage rate, term, mortgage loan amount and closing costs. Documentation must be dated as the same date as, or no more than seven days later than, the original True North Mortgage application. Good Faith Estimate and other documentation must be received by True North Mortgage within seven days of your original True North Mortgage application.

Eligibility details

The Guarantee applies to True North Mortgage fixed-rate mortgage applications. When compared to another lender's Firm Offer (as defined below), our mortgage will have a lower interest rate, or we will either beat the other lender's rate (that you qualify for) or pay you $500.

Our mortgage and the competitor's mortgage must be on a primary residence with the same term, discount points, loan amount, and have same or lower costs. The Guarantee does not apply to cash back or effective rate offers from competitors. The Guarantee applies to first lien products only, and does not apply to second lien products. As well, the Guarantee only applies to properties within True North Mortgage’s designated lending areas.

How does our rate guarantee work?

You must apply with True North Mortgage first, and qualify for your rate as per recent federal stress test guidelines. You then have seven calendar days to return to us proof of a lower rate (that you also qualify for) on a similar mortgage (same primary property, term, loan amount and same or lower costs) (the "Firm Offer"). To receive the competitive rate adjustment, you must deliver to True North Mortgage the competitive mortgage Good Faith Estimate and proof of product similarity within seven calendar days of the original True North Mortgage application. Competitor Good Faith Estimate and proof of product similarity must be dated the same or no more than seven days later than the original True North Mortgage application. True North Mortgage reserves the right to verify that the other lender's offer is accurate.

If True North Mortgage is unable to provide you with the lower qualifying mortgage rate and you close the loan with the competing lender on the quoted terms, True North Mortgage will pay you $500. To be eligible for the $500, you must mail to True North Mortgage a certified copy of the Mortgage Settlement Statement. The documents must be accurate and disclose that the loan closed on the terms and conditions, including rate lock expiration period, as previously disclosed in the Good Faith Estimate and proof of product similarity. True North Mortgage, in its sole discretion, will make all determinations of eligibility and qualification for payment of this Guarantee. The Guarantee is subject to revision or revocation by True North Mortgage at any time without notice. True North Mortgage is not responsible for system failures, communication problems or connection and server problems, natural or man-made, failed, incomplete or delayed transmissions, technical malfunctions of telephone networks, computer equipment, system or software, computer time and date stamp mechanism, or any combination thereof, or other unforeseeable events beyond the control of True North Mortgage.

True North Mortgage's own mortgage rate cannot be considered a competitive rate during the seven day guarantee period. Lowest Rate Guarantee excludes all subordinated-lien loans.

It seems like our clients are very happy about saving all the money — with thousands of 5-star client reviews. Talk to us today to get your better mortgage at your best rate — it's literally a no-brainer.