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 rates that are slightly higher than our lowest advertised rates. This is 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 - It's worth understanding too.

Brokers & Rate Comparison Sites - "Lowest Available", or "Posted Rates"

Like other brokers and rates 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 right timeline, can 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 bump up the rate. The most common reason we can't get a client 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. If you want to know your exact rate? Apply now and find out.

Big Banks "Posted Rates" vs "Discount Rates"

Unlike Brokers and rate comparison sites, Big Banks often advertise their rates differently: They usually have a "posted rate" and a "discounted rate". The posted rate will be absurdly 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. Lots of customers get mortgages from their bank out of loyalty – and will simply sign any renewal document without negotiating. When up for renewal, it's going to be offered with the "posted rate". Consumer loyalty makes banks a lot of money this way. It gets worse too – the "posted rate" can be factored into a refinance penalty, so even if you got a "deal", your options might be 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