In Canada, you must qualify for your rate with all lenders. Factors like equity in your home and personal credit will impact your final rate. When a deal is inked, some customers end up with slightly higher rates than our lowest advertised rates. These rates are not unique to True North Mortgage – nearly all mortgage brokers and rate comparison sites highlight the lowest available rate. Banks do something a bit different, which is worth understanding too.

Brokers & Rate Comparison Sites: "Lowest Available" or "Posted Rates"

Like other brokers and rate comparison sites, we have access to a mind-boggling array of mortgage options for our clients. This means we can't advertise all rates, all restrictions, for all clients. We promote our most popular, lowest priced and most sold mortgage products. Rest assured, we don't advertise "lost leader" rates. Good-credit clients, with the right down payment and proper timeline, are often able to take advantage of our lowest rates. We also post a realistic range to let clients know what to expect if there are some aspects that will result in a bump-up of rates. The most common reason we can't get a client's lowest posted rate is default insurance.

TNM was built on offering clients the most competitive rates in the market. We always work with clients to get the best possible rate available for their unique situation. There is no cost and no obligation to use True North Mortgage. Want to know your exact rate? Apply now and we'll help you find out.

Big Banks: "Posted Rates" vs "Discount Rates"

Unlike Brokers and rate comparison sites, Big Banks often advertise their rates differently, in that they usually have a "posted rate" and a "discounted rate." The posted rate will be quite high; this allows Banks to either advertise a much lower rate or negotiate directly with clients to let them feel like they got a great deal – but it's still probably much higher than what we are offering. Many customers get mortgages from their bank out of loyalty – and will simply sign any renewal document without negotiating. When up for renewal, it will likely be offered with the "posted rate." Consumer loyalty makes banks a lot of money this way. It gets worse – the "posted rate" can be factored into a refinance penalty, so even if you got a "deal," your options might be even worse if you need to refinance.

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Rules have changed. Everyone's rate is unique.

Canadian regulations have changed the way mortgages work. You must now qualify for your rate. Factors like equity in your home and personal credit will impact the rate.

Get Your Best Rate
Rates From
Payments as low as
1 Year Fixed
$1678 /mo
2 Year Fixed
$1678 /mo
3 Year Fixed
$1678 /mo
4 Year Fixed
$1678 /mo
5 Year Fixed
$1678 /mo
5 Year Variable
$1678 /mo
$1678 /mo

*Illustration purposes only. Use our Mortgage Calculator for accurate payments.