Proof that our rates are lower.
Want proof that our rates are lower?
Recently, one of Canada's three large mortgage insurers shared rates data with us on completed mortgages. The data allowed us to see exactly how we stack up against the competition.
We couldn't be prouder of the striking results. On average, our rates are 0.15% below the competition. On a $300,000 mortgage, that results in saving of $450 per year, after-tax.
These numbers are a direct comparison between THINK Financial and the rest of the market. THINK Financial is our exclusive lending arm. In 2016, it was created by True North Mortgage to allow us to offer even lower rates. The majority of our deals are now funded by THINK. The only way to get a THINK Mortgage is through us.
Since the Federal Government adjusted the mortgage rules in 2016, rates needed to tailor to each mortgage situation. Factors like credit score, property price and downpayment ratio can impact the final rate. These additional factors make it harder for consumers to look at posted rates and be confident they are comparing apples-to-apples.
As brokers, we knew that THINK rates were better, but it's nice to have 3rd party evidence to back it up.
2018 Q3 |
2018 Q4 |
2019 Q1 |
2019 Q2 |
2019 Q3 |
|
True North |
3.27% |
3.44% |
3.32% |
2.84% |
2.57% |
Everyone Else |
3.47% |
3.59% |
3.38% |
2.99% |
2.77% |
0.20% |
0.15% |
0.07% |
0.15% |
0.20% |
5 Year
-
Fixed
Term from
1.59%
Apply for your TrueRate in minutes.
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
Mortgage
Size
Size
Term
Rates From
Payments as low as
1 Year
Fixed
2.14%
$1678
/mo
2 Year
Fixed
1.84%
$1678
/mo
3 Year
Fixed
1.84%
$1678
/mo
4 Year
Fixed
1.89%
$1678
/mo
5 Year
Fixed
1.59%
$1678
/mo
5 Year
Variable
1.55%
$1678
/mo
HELOC
Open
2.95%
$1678
/mo
*Illustration purposes only. Use our Mortgage Calculator for accurate payments
-
If you don’t meet the requirements of our lowest advertised rate, don’t worry we still have you covered with great low rate options! The above range represents realistic rates if you don’t meet the outlined criteria. Factors like equity in your home, credit rating, and other variables will impact your final rate and True North Mortgage is committed to providing you with the best rate regardless of these factors.
Additional premiums may apply to rentals, extended amortizations, non-standard properties and alternative lending options.